From time to time we receive questions from people, who are currently applying or thinking of applying for different types of Australian visas, asking if bankruptcy would affect their visa application. The general answer would be a classical “No, but”. Bankruptcy is not a criminal offence and does not affect the eligibility for any visa except for business visas (subclass 160, 163, 161, 164, 162, 165, 132, 890, 892, 845, 846, 891, 893). For a business visa, the Department of Immigration and Citizenship policy states:
In any assessment of the applicant’s business career, the performance of businesses in which the applicant has had a management role is a relevant factor.
Under policy, this criterion generally should not be considered satisfied if:
- the applicant has been declared bankrupt in the last 5 years or
- the applicant is (or has been) actively involved in a business that is (or has been) subject to insolvency, receivership or liquidation or
- the business has suffered recent trading losses and the business is considered unlikely to be successful in the longer term and this can be attributed to the applicant’s role and decision making in the business. (That is, it is not intended that an applicant fail this criterion if the business is likely to be successful in the longer term despite trading losses resulting from external factors such as those listed above).
Officers should take into account:
- the applicant’s level of decision making and responsibility in the failed business
- external economic factors outside the control of the applicant
- how many times the applicant has experienced bankruptcy or been involved in a failed business and
- the applicant’s history in business since any bankruptcy, insolvency, receivership or liquidation.
Case officer can take into account external factors in their assessment of an applicant’s overall successful business career and we would advise you contact our migration team for a further in-depth assessment if any of these factors relate to your personal circumstances.
Also, for further information check out our Migration Fact Finders or give us a call on +61 (07) 5443 6600.
Follow Us