As of 1 March 2003 a new Business Migration program applies. The new program replaces all existing business migration categories, and consists primarily of a two-stage application process. At the first stage business migrants can apply for a provisional visa. Once granted the provisional visa, business migrants have 4 years within which to satisfy all the requirements of the business skills (residence) visa and apply for permanent residence.

Applicants applying for any of the business skills visas, be it at the provisional or permanent residence stage, can apply for State/Territory government sponsorship. If such sponsorship is obtained, the requirements are significantly lower than under the un-sponsored categories.

The categories under the Business Skills Heading are:

Business Owners: Owners or part owners of a business.
Senior Executives: senior executive employees of major businesses;
Investors: investors/business people willing to invest in Australia;
Business Employees/ Managers: Senior managers with at least 4 years continuous employment. 
Business Talent

A Senior Executive must first apply for one of the following provisional visa categories:

Senior Executive (Provisional) visa; or

State Territory Sponsored Senior Executive (Provisional) visa
Upon successfully applying for one for the above provisional visas, a 4 year visa will be granted. A Senior Executive can then apply for one of the following permanent visa categories upon meeting all the requirements:

Business Owner (Residence) visa; or

State Territory Sponsored Business Owner (Residence) visa
Senior Executive (Provisional) visa

To make an application for the Senior Executive (Provisional) visa, you will need to show that you:

have an overall successful business career;

are employed in one of the top 3 levels of management of a major business;

have significant business and personal assets ($A500,000);

have sufficient net assets to settle in Australia;

have a commitment to maintain an ownership interest in a business in Australia and direct and continuous involvement in management of that business;

have no history of unacceptable business activities;

are less than 45 years old; and

have vocational English.
 

State Territory Sponsored Senior Executive (Provisional) visa

To make an application for the State Territory Sponsored Senior Executive (Provisional) visa, you will need to show that you:

are sponsored by a state or territory government;

have an overall successful business career;

have significant business and personal assets ($A250,000);

are employed on one of the top 3 levels of management of a major business;

have sufficient net assets to settle in Australia;

have a commitment to maintain an ownership interest in a business in Australia and direct and continuous involvement in management of that business; and

are less than 55 years old unless exceptional circumstances exist.

Investors must first apply for one of the following provisional visa categories:

Investor (Provisional) visa; or

State Territory Sponsored Investor (Provisional) visa
Upon successfully applying for one for the above provisional visas, a 4 year visa will be granted. An Investor can then apply for one of the following permanent visa categories upon meeting all the requirements:

Investor (Residence) visa;

State Territory Sponsored Investor (Residence) visa;

Business Owner(Residence) visa; or

State Territory Sponsored Business Owner (Residence) visa

To make an application for the Investor (Provisional) visa, you will need to show that:

You have an overall successful business record of investment;

You have more than 3 years experience in the direct involvement in managing an eligible investment;

In at least 1 of the 5 fiscal years before your application you have maintained direct involvement in managing your (or your and your spouse's combined) eligible investments with a value of at least A$1,500,000;

For the 2 fiscal years before your application the net value of your (or your and your spouse's combined) assets was at least A$2,250,000;

You have demonstrated a high level of skill in management of your investment;

You are prepare to make a designated investment in a State Treasury Bonds of A$1,500,000 for a period of 4 years;

You are under 45 years of age;

You have vocational English;

Neither you nor your spouse has a history of involvement in business activities that are not generally acceptable in Australia; and

You have a genuine and realistic commitment to continue to maintain a business or investment activity in Australia after your 4 year investment has matured.
State Territory Sponsored Investor (Provisional) visa

To make an application for the State Territory Sponsored Investor (Provisional) visa, you will need to show that you:

are sponsored by a State or Territory government and intend to live in that State or Territory for a minimum of 2 years;

have a successful record of business or investment management;

be willing to make a significant investment in a government approved Designated Investment for 4 years;

have significant business and personal assets ($1,125,000);

have sufficient net assets to settle in Australia;

have no history of unacceptable business activities; and

are less than 55 years old unless exceptional circumstances exist.

A Business Employee / Manager is a senior manager with at laest 4 years' continuous employment. Applicants in this category are eligible to apply for the following provisional visa category:

State Territory Sponsored Business Owner (Provisional) visa
Upon successfully applying for the above provisional visa, a 4 year visa will be granted. A Senior Employee / Business Manager can then apply for one of the following permanent visa categories upon meeting all the requirements:

State Territory Sponsored Business Owner (Residence) visa

An application for a permanent residence visa can also be made by high calibre business persons, under the Business Talent visa category.

The Business Talent (Migrant) visa is a permanent residence visa available to high-calibre businesspersons.

State or Territory government sponsorship is an essential requirement of this business visa category.

If you are applying under the Business Talent category, you will need to show that you:

have an overall successful business career;

have significant net assets in business (at least $A400,000 for at least 2 out of the last 4 fiscal years);

have significant business and personal assets (of at least $A1,500,000);

have achieved a significant annual turnover in your business ($A3,000,000 for at least 2 out of the last 4 fiscal years) ;

have a commitment to maintain an ownership interest in a business in Australia and direct and continuous involvement in management of that business;

have no history of unacceptable business activities; and

are less than 55 years old unless exceptional circumstances exist.