Lebedev (Migration)

The Administrative Appeals Tribunal considered an application for a Subclass 188 (Business Innovation and Investment (Provisional)) visa. The applicant sought to satisfy the primary criteria for this visa, specifically focusing on clause 188.225 of Schedule 2 to the Regulations, which pertains to the ownership interest in a main business. The central dispute revolved around whether the applicant had an ownership interest in Novosin Holdings Pte Ltd, the business relied upon, for at least two of the four fiscal years preceding the invitation to apply, and whether this business met the required annual turnover thresholds.

The Tribunal was required to determine if the applicant met the requirements of clause 188.225(1) of the Regulations. This clause mandates that for at least two of the four fiscal years immediately before the invitation to apply, the applicant must have held an ownership interest in one or more established main businesses that generated an annual turnover of at least AUD500,000 (if the invitation was before 1 July 2021) or AUD750,000 (if the invitation was on or after 1 July 2021). The Tribunal also had to consider the definition of "fiscal year" and "ownership interest" as provided in the Regulations and the Act, including the possibility of indirect ownership.

The Tribunal's reasoning focused on assessing the applicant's ownership interest in Novosin Holdings Pte Ltd and the business's turnover during the relevant periods. While the specific findings on these points are not detailed in the provided text, the outcome indicates that the Tribunal concluded the applicant met the criteria under clause 188.225 of Schedule 2 to the Regulations. Consequently, the Tribunal remitted the application for reconsideration by the Minister, directing that the applicant satisfied this particular criterion for the Subclass 188 visa.