491 SBO visa Queensland | 491 Small Business Owner visa

491 SBO visa Queensland | 491 Small Business Owner visa

491 SBO visa stream in Queensland

Business and Skilled Migration Queensland Manager Greg McKean advised during MIA conference in May 2019 that a new 489 SBO visa (Small Business Owner) stream will be available for people who are or will be running a business in regional Queensland.

It took a while but as of 11 Dec 2019 all the requirements are finally available.

What was initially advertised as 489 Small Business Owner visa became a 491 Small Business Owner visa as 489 visa has been closed to new applications.

491 SBO visa requirements

BSMQ criteria requirements for 491 SBO visa:

  • have an occupation on Legislative instrument (LIN 19/051)
  • have prior business experience or qualifications to successfully run the business (or have previously been involved in a family-run business)
  • be on a visa that allows full-time work and operation of the business for a minimum of 35 hours per week (for example: 485 visa, dependant on 457 or 482 visa, dependant on student visa where primary applicant does a master course, working holiday visa, work and holiday visa)
  • have purchased an existing business in regional Queensland (Note: not available for start-ups or home based businesses)
  • paid a minimum of $100,000 for the business
  • have 100% ownership of the business (partnerships or joint ventures not eligible)
  • be trading in the business for 6 months prior to application
  • employ one (1) employee who is an Australian resident working a minimum of 20 hours per week
  • provide evidence of sufficient settlement funds.

Home Affairs criteria for 491 SBO visa

Criteria are the same as for “standard” 491 visa. The Home Affairs criteria requires you to:

What is regional Queensland?

All ocations outside Brisbane are considered a regional Queensland fo this visa. Applicable postcodes are: 4124 to 4125, 4133, 4183 to 4184, 4207 to 4275, 4280 to 4287, 4306 to 4498, 4507, 4517 to 4519, 4550 to 4575, 4580 to 4895

How many 491 SBO visas will be granted?

It’s just an estimate but it looks that Queensland has been awarded 2000 places for subclass 190 visa and subclass 489/491 visa for financial year 2019/2020. The pool of 2000 places will probably be split 30% for SC 190 and  70% for 489 and 491 visas.

491 SBO visa documents checklist

If you meet Queensland State Nomination requirements, you will be invited by BSMQ to lodge further documentation:

  • Application form
  • Settlement funds declaration form
  • Bank statement (personal)
  • Skills assessment
  • Commitment statement
  • Evidence of business management
  • Evidence of academic qualification
  • Evidence of business ownership/registration documents (contract of sale and ABN/ACN/ASIC)
  • Evidence of Australian resident employee (not a family member, or a subcontractor)
  • Evidence business has been operating for 6 months (BAS statements)
  • VEVO
  • Utility bill or lease agreement

Whom to contact for further details about 491 SBO visa.

Our agency has quite an experience with business and skilled visa applications. Give us a call if you’d like to discuss your situation.

Where can I find a business for sale in Queensland for 491 SBO visa?

We also work with business brokers. Give us a call we’ll see if we’d be able to help.

What are the other migration news for Queensland?

  • For business visas and investor visas 670 places have been allocated by Home Affairs to Queensland all together.
  • a new DAMA visa labour agreement will be available for businesses in Far North Queensland (Cairns and surrounds)
  • BSMQ has launched an awareness campaign and advertised Brisbane region as a destination to invest during recent South East Asia roadshows. Have a look at the video below to see where we are heading.

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Summary
491 SBO visa Queensland
Article Name
491 SBO visa Queensland
Description
New 491 SBO visa (Small Business Owner) stream is finally available for people who are running a business in regional Queensland. A visa applicant will have to employ at least 1 Australian and invest in the business over 100,000 AUD. Check this article for more details
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Publisher Name
Nowak Migration
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8 thoughts on “491 SBO visa Queensland | 491 Small Business Owner visa

  • 07/06/2019 at 11:55 pm
    Permalink

    yes I would like to know more details about this small business visa

    Reply
    • 07/07/2019 at 11:14 am
      Permalink

      You’re one of many 😉 We do not know details yet

      Reply
  • 19/06/2019 at 8:54 am
    Permalink

    Hello,
    What is the requirements for 489 Small business owner visa, also this visa need 65 point. After investing $100,000 in business, same 489 visa condition as current regional provisional visa
    Thanks

    Reply
    • 07/07/2019 at 10:49 am
      Permalink

      we do not know the details yet.

      Reply
  • 20/06/2019 at 5:23 pm
    Permalink

    Hi charles
    I have come to know that queensland goverment is going to introduce a new visa clause 489 SBO in july 2019, can i shift into this visa instead of subclass 188, please clear me about this.
    Thanks

    Reply
    • 07/07/2019 at 10:48 am
      Permalink

      We do not know the details yet, sorry.

      Reply
  • 25/11/2019 at 11:59 am
    Permalink

    Hii.. i woulld like to have more detail about SBO 489 category and how much i need to invest and how’s the points would be calculated??

    Reply
    • 15/12/2019 at 7:10 am
      Permalink

      Hi Romi
      We just updated this post with current information.

      Reply

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