Wu (Migration)

The Administrative Appeals Tribunal considered an application by Mr. Wu for a Subclass 188 (Business Innovation and Investment (Provisional)) visa. The core of the dispute concerned whether Mr. Wu met the primary criteria for this visa, specifically clause 188.225(1) of Schedule 2 to the Regulations, which relates to the ownership interest and annual turnover of a main business. The applicant nominated LD Investment Management Pty Ltd as his main business.

The legal issue before the Tribunal was to determine if Mr. Wu had an ownership interest in LD Investment Management Pty Ltd for at least two of the four fiscal years immediately preceding his invitation to apply for the visa, and if that business achieved an annual turnover of at least AUD500,000 in each of those years, as the invitation was issued before 1 July 2021. The Tribunal was required to assess the nature of Mr. Wu's interest in the business and whether it qualified as a "main business" for the relevant periods.

The Tribunal's reasoning focused on the evidence of ownership of LD Investment Management Pty Ltd. ASIC records indicated the company was registered on 14 October 2015, with 100 ordinary shares issued on the same date to Mr. Ludi. The Tribunal found that the applicant had not demonstrated an ownership interest in LD Investment Management Pty Ltd for the required periods. Consequently, the Tribunal concluded that the matter should be remitted for reconsideration.

The Tribunal remitted the application for a Business Skills (Provisional) (Class EB) visa for reconsideration, with a direction that the visa applicant meets criteria 188.225 and 188.229 of Schedule 2 to the Regulations.