The subclass 457 visa is a long term temporary residency visa, which allows a skilled worker to move to Australia to work in their nominated occupation for an approved sponsor for up to four years.
Although more usually encountered in the context of a third party employer sponsoring a skilled individuals to work in Australia the 457 visa program also facilitates a visa outcome for those who are directors or who are working in a skilled capacity and who want to establish a business in Australia.
The steps to secure a subclass 457 visa are:
- The business is approved as a business sponsor by the Department of Immigration. An existing business outside Australia can secure approval, as can a new business in Australia, but if the intention is to secure permanent residency via the usual pathway for 457 visa holders – a subclass 186 visa under the Temporary Residence Transition (TRT) stream – it is likely that a period of employment with an entity established in Australia will be required.
- A skilled position is nominated by the employer and approved by the Department of Immigration. The occupation nomination must be on the Consolidated Sponsored Occupations List (CSOL).
- A subclass 457 visa is granted.
Further key requirements under this visa pathway include:
- The business sponsor must be a “lawfully operating” business and (for Australian businesses only) must meet training requirements
- The occupation nominated must be relevant to the position to be filled, the position being nominated must be “genuine”, and the salary rate to be paid to the intended employee must be a “market rate” which must also be more than the Temporary Skilled Migration Income Threshold, or TSMIT (currently – 2015/16 – A$53,900). Labour Market Testing is also required in certain circumstances, but is usually not required for a business operating in one of Australia’s trading partners that is seeking to establish a presence in Australia and is nominating an executive or senior manager occupation.
- The visa applicant having the skill requirements for the occupation that is being nominated. These requirements are primarily set out in the Australia New Zealand Standard Classification of Occupations (ANZSCO), which specifies required qualifications and/or work experience for each occupation.
The entity that seeks approval to become a business sponsor can be an overseas business or an Australian entity such as a limited company or a family trust.
If the intention is to secure a permanent residency visa in due course it is critical to the visa strategy to be sure of the nature of the business entity/ies that will be involved. As already noted, an overseas business cannot secure a permanent residency visa directly under the usual subclass 186 TRT pathway.
GM Business – a division of Go Matilda Visas – is your ideal partner for guidance and advice on a business visa strategy.
We are Australian visa advisors, and our Managing Director is a qualified Chartered Accountant in Australia.
We have associates who are qualified accountants in Australia, who can provide ongoing support to you in an accounting and tax capacity as you establish and develop your business activities in Australia.
We work with our clients on the basis of fixed fees, and a wish to have a long term relationship based on our expertise, trust and a quality service.
We look forward to hearing from you.