Miscalculation of Points
Business visa applicants require a nomination by an Australian State or Territory government before they can lodge a valid application. Prospective visa applicants are awarded points in various categories, such as age, experience, and qualifications, to name a few. Applicants must compete with each other for the highest point score to secure a nomination from an Australian State or Territory.
Expression of Interest (EOI) is a delicate balancing act between claiming the most points to be competitive, thereby increasing the prospects of securing a nomination, and overclaiming. We often see applicants accidentally overclaiming their EOI points. Suppose the applicant only realises the mistake on their EOI after they have been issued an invitation. In that case, you may need to wait 6 months before re-applying for the State or Territory nomination.
Failed Business Ventures
The applicant must declare bankruptcy and failed businesses or investments. Visa case officers will likely request more information regarding the person’s failed ventures, such as:
- Whether there were factors outside the applicant’s control that contributed or led to the failed venture;
- How many times was the applicant declared bankrupt or was involved in a failed business or investment; and
- The applicant’s business history since the failed investment or venture.
Bankruptcy or a failed investment is not an automatic disqualification from receiving a nomination. However, the applicant must prepare for the case officer to make reasonable inquiries about the relevant circumstances leading to the failed business venture.
Lack of Supporting Evidence or Inaccurate Documents
All applicants are required to provide financial documentation in support of their application for various reasons, for example to:
- Establish the funds used to purchase an asset originates from a lawful source;
- Substantiate the points claimed in their Expression of Interest;
- Demonstrate the person’s overall business and investment history.
An independent auditor must audit all financial documents. Generally, case officers have the policy to make further inquiries and investigate, especially when the applicant only provided unaudited documents.
Using the Wrong Exchange Rate
All requirements for business visas are specified in Australian dollars (AUD). While documentation can report figures in foreign currencies, they must always also include the correct conversion to AUD. Applicants are encouraged to monitor and record the correct daily exchange rate from a reputable currency conversion source.
At the time of this article, digital currencies are not accepted for Australian business visas. While this may change once countries have introduced and implemented legislation regulating digital currencies, they will remain excluded from the Australian business visa program.