Standard Business Sponsorship Approval
What is SBS Approval?
Standard Business Sponsorship (SBS) approval is valid for 5 years and allows a business to nominate an overseas candidate for roles that cannot be filled locally.
For accredited sponsors, the approval can extend up to 6 years. This status often results in smoother and faster processing times for visa nominations.
What Are the Standard Business Sponsor Requirements?
To qualify as a Standard Business Sponsor, a business must meet the following requirements:
- Established Business Structure– The business must have a proper structure such as a company, trust, partnership, or registered business name.
- Sound Financial Position– The business must demonstrate stable financial standing.
- Lawful Operation– The business must be operating legally within its jurisdiction.
What Documents Are Required for SBS Approval?
The following documents are needed for SBS approval:
- Australian Business Number (ABN) Registration Certificate
- Business Names Extract (Trading Name/s)
- Financial report including profit and loss statement and balance sheet for the last financial year
- Projected financial report including profit and loss statement and balance sheet
- Business Activity Statements (BAS) for the last 4 quarters
- Business expansion plans
- Relevant pages of the franchise agreement (if applicable)
- Relevant pages of the Trust Deed (if applicable)
- Lease agreement
- Business insurance documents
What Is the SBS Application Fee?
The SBS application fee is AUD 420. Employers must cover all costs associated with becoming a sponsor and cannot transfer these costs to the visa holder or their family members.
What Is the SBS Approval Processing Time?
Processing time for SBS applications ranges from 1 week to 2 months from the date of lodgement.
This timeframe can vary based on the completeness of the application and any additional information that may be required.
How Long Is SBS Valid?
SBS status is valid for 5 years, allowing the business to nominate overseas candidates for roles that cannot be filled locally. For accredited sponsors, this period can extend up to 6 years.
Free Assessment
Our immigration agent in Perth can assess your eligibility for SBS approval and recommend the best pathway for you to take.
By following these guidelines and ensuring all requirements are met, businesses can successfully navigate the SBS approval process and benefit from the ability to sponsor skilled overseas workers.
