MIGRATION REGULATIONS 1994 - REG 1.11 Main business

MIGRATION REGULATIONS 1994 - REG 1.11

  (1)   For the purposes of these Regulations and subject to subregulation   (2), a business is a main business in relation to an applicant for a visa if:

  (a)   the applicant has, or has had, an ownership interest in the business; and

  (b)   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

  (c)   the value of the applicant's ownership interest, or the total value of the ownership interests of the applicant and the applicant's spouse or   de   facto   partner, in the business is or was:

  (i)   if the business is operated by a publicly listed company--at least 10% of the total value of the business; or

  (ii)   if:

  (A)   the business is not operated by a publicly listed company; and

  (B)   the annual turnover of the business is at least AUD400   000;

    at least 30% of the total value of the business; or

  (iii)   if:

  (A)   the business is not operated by a publicly listed company; and

  (B)   the annual turnover of the business is less than AUD400   000;

    at least 51% of the total value of the business; and

  (d)   the business is a qualifying business.

  (2)   If an applicant has, or has had, an ownership interest in more than 1 qualifying business that would, except for this subregulation, be a main business in relation to the applicant, the applicant must not nominate more than 2 of those qualifying businesses as main businesses.