Document ID: chunk:federal_register_of_legislation:F2025C00115:clause:2_2:p18
Version: federal_register_of_legislation:F2025C00115
Segment Type: clause
Provision Reference: sch 2 cl 2 (pt 18/178)
Character Range: 1468847–1471655

way of income or capital gain and is not held for personal use.
Note 1: appropriate regional authority, AUD, fiscal year, ownership interest and qualifying business are defined in regulation 1.03.
Note 2: As to beneficial ownership of an asset, eligible investment or ownership interest, see regulation 1.11A.
162.2—Primary criteria
Note: The primary criteria must be satisfied by at least 1 member of a family unit. The other members of the family unit who are applicants for a visa of this subclass need satisfy only the secondary criteria.
162.21—Criteria to be satisfied at time of application

162.211
  The applicant has demonstrated overall a successful record of eligible investment activity or qualifying business activity.

162.212
 (1) The applicant has had a total of at least 3 years experience of direct involvement in managing 1 or more qualifying businesses or eligible investments.
 (2) Throughout at least 1 of the 5 fiscal years immediately before the application is made:
 (a) the applicant maintained direct involvement in managing a qualifying business in which:
 (i) the applicant; or
 (ii) the applicant and his or her spouse or de facto partner together;
  had an ownership interest of at least 10% of the total value of the business; or
 (b) the applicant maintained direct involvement in managing eligible investments of:
 (i) the applicant; or
 (ii) the applicant's spouse or de facto partner; or
 (iii) the applicant and his or her spouse or de facto partner together;
  the total net value of which was at least AUD1 500 000.
 (3) Throughout the 2 fiscal years immediately before the application is made, the net value of the business and personal assets of the applicant, the applicant's spouse or de facto partner, or the applicant and his or her spouse or de facto partner together, was at least AUD2 250 000.

162.213
  The applicant has demonstrated a high level of management skill in relation to an eligible investment or qualifying business activity.

162.214
  The applicant is less than 45 years old.

162.215
  The applicant has vocational English within the meaning given by regulation 1.15B.

162.216
  Neither the applicant nor his or her spouse or de facto partner (if any) has a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.

162.217
  The applicant has notified the appropriate regional authority of a State or Territory of:
 (a) the applicant's business and investment history; and
 (b) the applicant's intention to lodge a designated investment in that State or Territory.

162.218
  The applicant genuinely has a realistic commitment, after entry to Australia as the holder of a Subclass 162 visa, to continue to maintain business or investment activity in Australia after the