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:
- have a points test result of 65 or higher, inclusive of state nomination points
- have a positive skills assessment in your nominated occupation
- be under 45 years of age
- meet the minimum English language requirement of COMPETENT, unless a higher level is required by your assessing authority
- submit additional documents if invited to lodge an application for a subclass 491 visa (SWR visa) .
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)
- Utility bill or lease agreement
Doest the business have to be related to my occupation?
Simply speaking – no, business does not need have to be related to your nominated occupation. but you still must show business experience or a qualification to show you will are able to successfully run the business.
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.
How to make an application for an 491 SBO visa
Follow the cues below and you may stand a chance fr 49 SBO visa grant (not mecessarily in the given order)
- Make sure you’ll qualify for 491 visa at all
- Get a skills assessment done
- Pass an english test on competent level
- Make sure you’ll get 65 points
- Make sure you have a visa with full time work rights for at least another 6 months +
- Buy an existing business (no startups allowed, you must be the sole owner) in regional Queensland for $100,000 + (they’ll check the sale contract and money transfer)
- Run the business for 6 months (remember you must employ at least one Aussie for at least 20 hrs per week and that person can’t be your family mamber)
- lodge an EOI through skillselect
- fill the BSMQ 491 SBO form
- once invited by BSMQ to provide evidence – upload all the documents to their portal (you’ll get the link in an email)
- wait for BSMQ decision –
- if positive you’ll get an email from skillselect with a link to lodge a 491 visa application
- if negative you’ll get an email from BSMQ
- If a QLD nomination has been issued – follow the link and apply for a 491 visa.
- any doubts in any stage – call us for assistance.
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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