This visa is for senior executive employees of major overseas businesses, who have significant net assets and a genuine and realistic commitment to participate in the management of a new or existing business. This visa is also the first step towards being granted a permanent Business Skills visa.

They must be senior executives from overseas who through their experience have gained the skills to successfully manage a business in Australia, are less than 45 years old, and their family.

With this visa you can:

• establish a new or existing business in Australia
• travel in and out of Australia any number of times as long as the visa is valid
• have your family accompany you to Australia. They will have access to work and study rights
• establish a pathway to permanent residence.

You must meet the following requirements to be eligible for this visa.

Age

You must be less than 45 years old.

State/Territory notification

You have notified the appropriate regional authority of a state or territory of your intention to develop a business in that State or Territory.

English level

You must have a vocational level of English.

To show this you must you have one the following:

• have evidence you are a native English speaker
• undertake the International English Language Testing System (IELTS). You need to take the general training test, and must achieve a band score of at least five from a maximum of nine, for all four components of the test; speaking, reading, listening and writing. (Your IELTS test results may not be more than 12 months old when you apply)
• hold a NAATI accreditation in English.

Business success

You have an overall successful business career.

Management experience

You have occupied a position in the three highest levels of the management structure of a major business. In that position you were responsible for the strategic policy development affecting a major component or a wide range of operations of that major business, and have done so for at least two of the four fiscal years immediately before you apply.

Significant assets

Your (or your and your spouses) total assets have a net value of at least A$500,000, and were legally acquired and are capable of being transferred to Australia within two years of being granted this visa.

Assets to settle

You have sufficient assets (additional to those above) to settle in Australia.

Business record

You or your spouse (if any) have never been involved in unacceptable business or investment activities

Committed to business in Australia

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

Need to live in Australia

You demonstrate there is a need for you to live in Australia for business reasons on a temporary basis.

Health

You must meet health requirements to enter Australia.

Character

You must be of good character to enter Australia.

Australian Values Statement

If you are aged 18 years or over, you are required to sign an Australian values statement. The statement is included in your visa application form and all applicants aged 18 years and over will need to sign it to confirm that they will respect the Australian way of life and obey Australian laws. Before signing this statement you are required to have read, or had explained to you, material made available by the government on life in Australia.