Australian Business Entry Definitions

Applicant

The applicant is the person (or persons) applying for a visa to remain temporarily or permanently in Australia.

Appropriate Regional Authority

This refers to a Department or authority of an Australian State or Territory that is specified by Gazette Notice in relation to the grant of a Business Skills visa.

A$/AUD

This refers to the Australian Dollar equivalent value on the basis of the buying rate:

• in the local currency for Australian dollars on the last day of the fiscal year in which the business reported; and
• published by any bank holding an Australian banking License; and
• published on an approved currency conversion internet site.

Australian mission

An Australian Embassy, High Commission, Consulate or Consulate-General or Australian Trade Commission.

Designated Investment

This refers to investment in a security issued by an Australian State or Territory government authority which is specified by the Minister by Gazette Notice for the purposes of Investor and State/Territory Sponsored Investor visa subclasses. More info

DIMIA

More info

DIMIA Office

A regional office of the Department of Immigration and Multicultural and Indigenous Affairs in Australia.

Eligible investment

Eligible investment in relation to a person means:

• an ownership interest in a business; or
• a loan to a business; or
• cash on deposit; or
• stocks and bonds; or
• real estate; or
• gold or silver bullion

that is owned by the person for the person for the purposes of producing a return by way of income or capital gain and is not held for personal use.

Fiscal Year

Fiscal year in relation to a business or investment means:

• if there is applicable to the business or investment by law an accounting period of 12 months – that period; or
• in any other case – a period of 12 months accepted as applying to that business for taxation or reporting purposes by the authorities in the country in which the business operates and reports.

Main Business

A business is considered a ‘main business’ in relation to the applicant if:

• the applicant has, or has had, an ownership interest in the business; and
• the applicant maintains, or has maintained, direct and continuous involvement in management of the business from day to day and in making decisions affecting the overall direction and performance of the business; and
• the value of the applicant’s ownership interest, or the total value of the ownership interests of the applicant and the applicant’s spouse, in the business is or was at least 10% of the total value of the business; and
• the business is a qualifying business

Major Business

In reference to the Senior Executive (temporary visa) category: Major business means a business (other than a government business enterprise) the annual turnover of which was not less than the equivalent of A$50,000,000 in each of the any two of the four fiscal years immediately preceding the making of the application.

In reference to the State/Territory Sponsored Senior Executive (temporary visa) category: Major business means a business (other than a government business enterprise) the annual turnover of which was not less than the equivalent of A$10,000,000 in each of any two of the four fiscal years immediately preceding the making of the application.

Net Assets

The net assets of a business is the amount attributabloe to the owners or shareholders of the business after deducting financial claims upon the business by third parties from total assets (ie. Net assets = total assets – liabilities).

Ownership interest

In relation to a business, this term means an interest in the business area:

• a shareholder in a company that carries on the business; or
• a partner in a partnership that carries on the business; or
• the sole proprietor of the business, including such an interest held indirectly through one or more interposed companies, partnerships or trusts.

Provisional

A provisional visa under the Business Skills Category means a temporary four-year visa.

Qualifying Business

This refers to an enterprise that:

• is operated for the purpose of making profit through the provision of goods, services, or goods and services (other than the provision of rental property) to the public; and
• is not operated primarily or substantially for the purpose of speculative or passive investment

Vocational English

In relation to an applicant this term means that the applicant can read and understand a variety of texts in English with reasonably good comprehension; the applicant can write English well enough to communicate effectively for most purposes; the applicant can understand spoken English quite competently in a range of situations; the applicant can speak English fairly fluently and accurately in a range of contexts.