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Business Skills Sponsorship

Northern Territory sponsorship is available to eligible applicants to apply for one of the temporary or permanent Department of Immigration and Citizenship (DIAC) Business Skills visas:

• Business Owner
• Senior Executive
• Investor
• Business Talent (Migrant)
• Regional Established Business Australia (REBA)

The purpose of Northern Territory sponsorship is to enable eligible applicants to benefit from lower migration criteria for visas. Although the Northern Territory Government assesses eligibility for sponsorship, it is not liable for any decisions and action taken by applicants who choose to migrate and establish business or investment activity in the Northern Territory.

Eligibility

To be eligible for Northern Territory sponsorship you will be need to demonstrate to the Department of Business, Economic and Regional Development that you:

• are able to add value to the Northern Territory economy through the proposed business development and not disadvantage existing Northern Territory business
• have a genuine commitment to live in the Northern Territory
• have a genuine commitment to establish, and actively engage in business or investment in the Northern Territory.

You will also be required to visit the Northern Territory in the six month period prior to lodging your sponsorship application. The aim is for you to meet with relevant Government departments and private sector groups and conduct your own assessment of business and investment opportunity in the Northern Territory.

Sponsorship Assessment

A detailed proposal that includes information about background experience and the intended business/ investment activity in the Northern Territory in accordance with the visa being applied for is required for sponsorship assessment. You will need to prepare a proposal using the relevant "Sponsorship Proposal Outline". There is different criterion for each of the respective State/Territory sponsored visa.

In your proposal you will need to demonstrate:

• your financial capacity
• business development, business/investment skills and experience
• benefit to the Northern Territory.

Assets and Liabilities

You have to provide a statement of assets and liabilities to give the Department of Business, Economic and Regional Development an indication of the net worth of assets, in Australian dollars, to be transferred to the Northern Territory. DIAC will also assess the net worth of business and personal assets against the designated limit for each visa category.

Sufficient net assets to settle in the Northern Territory

Business skills entry migrants relocating to the Northern Territory must be able to demonstrate sufficient net assets to settle and not be at risk of severe financial duress.

The Department of Business, Economic and Regional Development will determine how much you and/or your spouse will need in readily transferable net assets to live in the Northern Territory.

The assessment for sufficient net assets will be applied specifically to:

• State/Territory Sponsored Business Owner (Provisional) visa
• State/Territory Sponsored Senior Executive (Provisional) visa.

DIAC requires net worth of business and personal assets of $AUD250 000 to be eligible for each of these visa categories. Applicants will have to demonstrate sufficient net assets over and above the DIAC visa asset limit of $AUD250 000 to relocate from overseas and settle in the Northern Territory.

The assessment for sufficient net assets may also be applied to other categories of business skills visas. This will happen, in selected circumstances, where the margin of net assets available under DIAC criteria is not deemed sufficient by the Department of Business, Economic and Regional Development to prevent undue financial duress for applicants in the first two years of settlement.

It is suggested that the annual value of additional net assets (either individual or combined) above the DIAC limit to be transferred to Australia to cover settlement costs be:

Family Minimum Annual Composition Net Assets

Individual Applicant	Additional net assets to a minimum value of $AUD35 000 per annum
Applicant + Spouse	Additional net assets to a minimum value of $AUD50 000 per annum
Applicant + Spouse + 1 child	Additional net assets to a minimum value of $AUD60 000 per annum
Applicant + Spouse + 2 children	Additional net assets to a minimum value of $AUD65 000 per annum

An extra $AUD5 000 is to be added to the minimum annual net assets for each additional dependent child. Applicants will require additional funds to assist with initial establishment costs.

Support Network

Assistance from your Australian based support networks, if available, may be taken into consideration during the assessment of the need for additional net assets for resettlement.

Application

You will need to prepare an application for sponsorship for the Department to consider. Your application must include:

• A detailed proposal for sponsorship
• A completed copy of DIAC Form 949 State/Territory Sponsorship Business Skills Class
• A completed and signed application form for Northern Territory Sponsorship
• A signed "Acknowledgment and Release" form signed by the applicant.
• If you are using a migration agent, a signed declaration by your registered migration agent
• A statement of your assets and liabilities
• Other necessary information to support your application.

Assessment of your Application

You should allow up to 30 days for the processing of your sponsorship application. You will be required to attend an interview with the Department of Business, Economic and Regional Development. Your contact details should be kept current with the Department being advised of any changes as soon as possible.

Once approved, business skill migrants are required throughout the sponsorship period, to ensure that the Department is notified as soon as possible of any changes in address.

Non-Transferable Sponsorship

You must note that Northern Territory Government sponsorship is not transferrable to other Australian States or Territories.

It is recommended that you get a copy of DIAC Booklet No. 7 Business Skills Entry and read it for more comprehensive information about the Business Skills Entry program. Copies can be obtained from DIAC offices (cost $20.00) or by visiting the DIAC website www.immi.gov.au and down loading a free copy.

"DISCLAIMER:The Northern Territory of Australia and the Department of Business, Economic and Regional Development disclaim any liability or responsibility or duty of care towards any person for loss or damage (including special, indirect or consequential loss or damage such as loss of revenue) suffered or caused by any use or reliance on this information. While care has been taken in the production of this Fact Sheet, it is provided as general information only. The Northern Territory of Australia and the Department of Business, Economic and Regional Development accept no responsibility (including for negligence) for errors or omissions and do not assert or imply that it is complete, accurate or current. No person should rely upon the information in this Fact Sheet for the purpose of making any serious, business or investment decisions without obtaining independent and/or professional advice in relation to their particular situation.