1502205 (Migration)

This matter concerned an application for a Business Skills (Residence) (Class DF) visa, specifically a Subclass 890 (Business Owner) visa. The applicant sought to demonstrate that the net value of her assets in her main business in Australia met the threshold of at least AUD100,000 throughout the 12 months preceding her application, and that these assets had been lawfully acquired. The Tribunal was required to determine whether the applicant had satisfied this criterion, cl.890.212 of Schedule 2 to the Regulations.

The applicant nominated JR World Pty Ltd as her main business, in which she held a 100% shareholding. Financial statements for the business showed negative net assets for the financial years ending 30 June 2013 and 30 June 2014. The applicant relied on shareholder loans to meet the net asset requirement. While the delegate accepted that a loan of $118,000 had been provided to the business, they were not satisfied that the remaining claimed loan amount of $400,120 had been provided, leading to a recalculation of the applicant's total net assets in the business as $14,006 and $18,216 for the respective periods. On review, the applicant's representative provided additional evidence, including a ledger and bank statements dating back to February 2012, demonstrating further funds transferred by the applicant to the business.

The Tribunal found that the additional evidence provided by the applicant's representative satisfied cl.890.212. Consequently, the Tribunal remitted the application to the Department for reconsideration, with a direction that the applicant meets the specified criteria.