Imagine this — You own a business in Australia and you’re thinking about migrating to the country to expand it. Could your own business/company sponsor you to apply for an Employer Sponsored Visa and increase your chances of permanent residency?
You might be asking yourself: is self-sponsoring a possible pathway? For foreign entrepreneurs and investors with businesses in Australia, there are different ways to approach their visa application process. In this feature article, we’ll be diving into what Employer Sponsored Visa process is all about, discussing the pros and cons of Self-Sponsoring, as well as, giving helpful tips we’ve gained along the way to help guide you in your Pathway to Aus.
Skills in Demand Visa: A Big Picture Perspective
Before we discuss the concept of self sponsorship, we’ll go ahead and lay the groundwork for the visa application process to create a better understanding of the potential success and risks involved.
To start things off, we’ll direct you to the Skills in Demand Visa (Subclass 482) guide that will help you get an idea of the process and requirements necessary to obtain.
Visa Approval and Permanent Residency
Getting the SID Visa would enable applicants to be granted the ability to live and work in Australia, get access to medical care, invite their family members, and have the possibility of becoming a citizen.
Taking all of this into consideration, let’s dive deeper into the sponsorship processes and see how that could work for you.
Employer Sponsorship
In this case, you are the employer wanting to become a sponsor for your own visa application. There are some specific details we need to go over so that you’ll be prepared for the process.
1. The business has to be legitimate.
Entrepreneurial venture legitimacy comes down to having these must-haves:
- An ABN (Australian Business Number) and/or ACN (Australian Company Number)
The ABN is a nine-digit number issued to registered businesses to keep track of their transactions with the Australian Taxation Office (ATO). Each number is distinctly made for a certain entity. The Australian Business Register helps you with the application process.
Meanwhile, the ACN is a nine-digit number issued to registered businesses by the Australian Securities and Investments Commission (ASIC) to monitor their company operations.
- Tax Returns and BAS statements
The Australian Immigration states that Tax Returns are important for foreign residents who are earning $1 or more in Australia during the tax year (excluding income that had non-resident withholding tax withheld).
Your Business Activity Statements (BAS) are a way of keeping record of business operations. By doing this, business owners get to track the taxes collected by their companies during a particular period of time — either monthly or quarterly.
- Lease Agreements or a Business Address
Another way of tracking legitimacy is the evidence of having a physical address for your business that is fully functioning and is in current operations. If you don’t own the space of your business, lease agreements are the best option.
- Proof they’ve actually been trading
In business, these are trade documentations showing the business’ product or services offered that are recorded and presented through paperwork.
2. Length of time of operations
The length of time often gauges the operations of a business and can determine its potential future if the company can continue to sponsor an employee.
3. Balance of local & foreign staff members
With the business history of diverse staff members, it builds evidence that the company can offer occupation opportunities and it can sponsor the visa applicant employee.
4. The business has to be viable
The company has to have the ability to provide wages for the sponsored employee and meet their business obligations to said employee.
Self Sponsoring: Seeking an Alternative Solution
Here at Pathway to Aus, we’re dedicated and determined to find the best path for your migration. We’re going to walk you through the possibilities you can have by applying for self sponsorship.
To put it simply, you and your company are two separate entities. Self sponsorship would mean that your business or company would be the one to nominate you.
In theory, self sponsoring is doable. Although we want to make it completely clear that it is a very complicated and risky process. While we don’t particularly recommend this kind of visa application, we feel it’s necessary to share this information with you as a way of being transparent.
From the Pros: Tips on upping your chances of visa approval
1. Show genuine need for the position.
You can do this by gathering industry reports, consulting a separate HR adviser, and laying out labour marketing testing.
2. No specific amount of money needed.
Costs may vary depending on your specific case, but it’s always better to be prepared and save up for expenses.
3. Business with good sales, profit, and financial record.
A good track record goes a long way. This would help show that your business has got the financial capacity to employ and sponsor you as an employee.
4. Employ numerous employees (especially Australians).
Reiterating what we mentioned previously, it’s best to diversify your staff and balance it out. Hire people from different walks of life and cultural backgrounds. Employ Australians especially.
5. Distinguish yourself as an employee and not the owner of the company.
Always remember, you’re not sponsoring yourself. Your business, which is a separate entity, is sponsoring you. Outsourcing different departments like HR, Finance, and Sales would be helpful.
The Clincher: Why we think it’s too risky!
- Application may be highly scrutinized by Australian Immigration
- Sponsorship approvals are few and far between
- Only selected occupations are eligible
- Business history and profitability are major factors of consideration
We’ve laid out everything for you to consider. It’s totally up to you if you want to try it out and apply for yourself. If you want someone to guide you on your way, book a consultation with one of our experienced migration agents.
