Question: Is turnover a requirement for a 457 business sponsorship? If so, how much do I need?
Technically, turnover is not a requirement that is legislated under the 457 program. Therefore, there is not any financial threshold in relation to the turnover required in order to sponsor someone under the 457 visa program. However, one thing to note is that even though turnover is not a legislative criteria, Immigration will still assess the overall genuineness and the ability of the business to afford a new employee.
If you are looking to apply for a business sponsorship approval under the 457 program, here are two things to take into consideration for your business or organisation:
If the answer to the above two questions are “yes” then the business is looking good to potentially be approved as a 457 business sponsor.
It is critical to consult with professionals who can discuss your business financials and advise you appropriately on the prospects of success and instruct you on what steps need to be taken (or planned) to achieve a successful outcome.
Hi,
My current employer is a not for profit organisation that is willing to sponsor me but they are not a registered sponsor yet. I don't think they will be eligible because even though the turnover is more than $1 million, the net profit (after accounting for overheads) is negative. However, the organisation has a positive cash flow and is arguably capable of paying my salary if ever I was sponsored. Will this be a problem? Please advise, thanks.
Hi Faith,
We have received your enquiry. One of our visa experts will be in touch with you via email.
Hi,
how many weeks will it take to know if a company can hire a 457 visa if they advertised it recently. Thanks
Hi Mark,
We have received your enquiry. One of our experts will be in touch with you via email.