The holder of an Australian State sponsored business visa is entitled to remain in Australia as a permanent resident for a period of up to 5 years for the purpose of owning a new or existing business.
This visa was designed to allow immigrants to set up businesses in Australia, thereby contributing to its economic development.
Although this could in some degree be compared to the Australian Skilled Migrant Work Visa, the State sponsored business visa has a lot more view towards the permanency of the holders stay in Australia.
If an immigrants business is generating revenue and they are successful, it is of benefit to the country as a whole, and the State sponsored business visa is a method for the Australian government to both allow these companies to stay and also to ensure that the business owners who have set up in Australia are running an economically viable operation.
Immigrants who have entered the country on a lesser Australian work visa may eventually be able to apply for the State sponsored business visa if they have spent their time building and running their own business.
It is not possible to enter Australia for the first time on a State sponsored business visa as there are several conditions which have to be met and several applications which need to be made prior to this visa being granted.
How Would I Get One? Say you enter Australia on an Australian work visa such as an Australian Skilled Migrant Work Visa, end up starting your own business and then realize the terms of your visa are up.
This is the point at which you can evaluate whether or not you would be eligible to upgrade your Australian Skilled Migrant Work Visa to a State sponsored business visa.
Indeed, the visa on which you are in Australia at the time of your application is very important to your chances of obtaining a State sponsored business visa - only holders of certain kinds of provisional work visas are eligible to apply.
As mentioned before, several applications are necessary for this visa - you will need to apply to the state authority in order to apply for their sponsorship before you can even begin applying for the visa, and it is also necessary to obtain police clearances and medical checks for the visa itself.
The net worth and performance of your business will also be judged as part of your visa application, your annual turnover scrutinized.
For further information on obtaining a State sponsored business visa, it is recommended that you visit the Australian governments website on this subject, as an exact list of the factors which may govern your application are available here.
What Are The Benefits Of This Visa? Should your State sponsored visa application be granted, your old Australian work visa will be upgraded.
On a State sponsored business visa, you will be allowed to live in Australia as a permanent resident for up to 5 years.
You can include your family on your application, or even sponsor them to join you afterwards and have them join you in Australia, where they will have full rights to work or study.
Although you and your family will have access to the Australian national healthcare system, you will not be eligible for either social security or family assistance benefits.
Once you have lived in Australia as a permanent resident for a period of 3 years, you become eligible to apply for permanent residency - you will be able to become an Australian citizen and obtain an Australian passport, as well as register for the social security and family assistance benefits as mentioned earlier.