BC10 Changing a business proposal (08/04/2013)

1. If the holder of a work visa granted under the Long Term Business Category wishes to change their business proposal within the validity of their visa they must apply to a business immigration specialist for a variation of conditions. A variation of conditions may be granted if a business immigration specialist is satisfied that:
   1. there are genuine reasons for abandoning the original business proposal; and
   2. there is a plan for the proposed new business that meets the requirements for a business plan as set out in BC4.5; and
   3. the new business proposal requires the same or a greater level of capital investment than the original business proposal; and
   4. the applicant has access to sufficient capital to finance the proposed new business; and
   5. the applicant has business experience relevant to the proposed new business.
2. For the purposes of BC10(a)(iii), account will only be taken of the amount of capital that is to be actively invested in the proposed new business. This does not include:
   1. working capital; or
   2. speculative or passive investment(s), such as reserve funds or term bank deposits; or
   3. expenditure on items for the personal use of the applicant(s), such as personal residence, cars or boats.

Note: Working capital is capital that is tied to assets used in the on-going maintenance or day-to-day running of a business.

A genuine reason for abandoning the original business proposal does not include inadequate market research.

A visa holder may be made liable for deportation where they are undertaking business activities which breach the conditions of their visa.

Effective 08/04/2013