Small Business Owner Pathway to Permanent Residency
QLD Small Business Owner Visa (Subclass 491)
QLD has recently introduced the Small Business Owner Pathway for onshore applicants.
Small Business Owner Pathway
In late 2020, Queensland introduced the Small Business Owner Pathway (Subclass 491).
Other types of investment visas require a much higher investment (usually over $500,000) and also require you to have a significant business and financial background. This visa only requires an investment of at least $100,000.
The Small Business Owner pathway is a type of Skilled Regional Visa and has many requirements similar the normal 491 visa.
Requirements
Pass a skill assessment
Invest and Run a Business for at least 6 months
Lodge the expression of interest
Be invited by QLD to apply for the visa
This visa allows you to purchase a business and request state nomination on the basis of the investment in the business in a regional area.
Additional requirements
Here are the additional requirements for the Small Business Nomination pathway
Pass a skill assessment
You need to pass a skill assessment in an occupation in on the MLTSSL, STSOL and ROL (LIN 19/051) – The occupation does not need to be on the Queensland Occupation List, so there is a much larger list of occupations.
Experience running the business
You must have at least 6 months experience running the business.
Business located in a regional area
The business must be located in a regional area. You must live and work in a regional area.
On a visa allowing full time work
You must be on a visa that allows full time work and the operation of a business for 35 hours per week (Student visas do not allow this – Temporary Graduate Work Visas or Secondary applicants with full work rights may be ok)
Purchased existing business
You must have purchased an existing business in regional Queensland (Start ups or home based business are not eligible)
$100K minimum investment
Invested a minimum of $100,000 in the business prior to submitting an Expression Of Interest
100% ownership
Have 100% ownership of the business (partnerships or joint ventures not eligible)
6 months trading prior to application
Be trading in the business for 6 months prior to application
Employ an Australian resident
Employ at least one other employee who is an Australian resident working a minimum of 20 hours per week.
Sufficient settlement funds
Provide evidence of sufficient settlement funds.
Note: Please note, the business that you invest in does not need to be related to your nominated occupation (the occupation you pass a skill assessment for), however you still must be able to show relevant business experience or qualifications to demonstrate you will be able to successfully run the business.
You can find additional information on this visa through BSMQ website.
Pathway to Permanent Residency
Here are the additional requirements for the Small Business Nomination pathway
Pathway to PR
The 491 visa is an initial 5 year temporary visa. This visa can turn into permanent residency assuming that:
- You must have earned the minimum income ($53,900) for at least three years as the holder of a regional provisional visa.
- You maintain residence in a regional area
- You work in a regional area
Provided you meet the above requirements as the holder of a 491 visa, you may then be able to transition onto the Skilled Regional (Permanent Residence) Visa – Subclass 191
Application process
Pass a Skill Assessment
Purchase a business in a regional area (for at least $100,000)
Run the business for 6 months
Submit an Expression of Interest
Submit an Assessment form to QLD Migration
Receive an invitation to apply for the 491 visa
Apply for the 491 visa
GET IN TOUCH
In case of questions, feel free to reach out to one of our experienced Registered Migration Agents.
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