Queensland offers 491 Small Business Owners visa to entrepreneurs on “easy terms” at a minimum of 50 points.
At a time when migration is shrinking in Australia, and competition is at its peak in most of the popular professions, Australian visa hopefuls find themselves struggling to find options.
However, there are some options, which offer a pathway to Australian PR to those who have an entrepreneurial spirit.
Highlights:
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- Queensland nominates business migrants in industries that are in demand.
- 491 Small Business Owners visa requires a minimum investment of 100,000 dollars.
- This pathway is only available to onshore applicants only.
Brisbane-based migration agent Suman Dua says Business Skilled Migration Queensland (BMSQ) is one such option.
She says, “491 visa Small Business Stream visa is an excellent opportunity as it is offered at a minimum of 50 points with no occupation limits. It was launched in December last year. As six months running business is required, if anyone would have bought a business they would be eligible now.”
Listen to this podcast to find out all the requirements:
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According to BSMQ, “Queensland nominates business migrants in industries that are in demand, for both provisional visas and permanent residency, which allows you to invest or set up a business in Queensland.”
This visa stream is for entrepreneurs who can buy and run a small business in regional Queensland.
“You need to buy a business at a minimum of $100,000 in regional Queensland and run it for six months to be eligible for the 491 Small Business stream,” explains Suman Dua who is a member of Migration Institute of Australia and is a qualified education agent counsellor.
“This business need not be in the occupation of your skill assessment. An accountant can buy a restaurant, or a motor mechanic can buy a fast-food franchise. However, you must have full working rights in Australia and a skill assessment.”
According to Migration Queensland, applicants must meet these requirements to be eligible for 491 Small Business Owners visa, such as:
– This pathway is only available to onshore applicants.
– You need to have been living in a regional area for at least six months before lodging an EOI.
– You must purchase the business for a minimum of $100,000.
– A start-up business is not an eligible business for this pathway, and the applicant must buy an existing business.
– you need to employ a minimum of one Australian employee. They must be an Australian resident. They also need to be working a minimum of 20 hours a week. They cannot be a family member or a subcontractor.
Suman Dua says the process is fast and straightforward.
“You come to Queensland, buy a business, run it for six months and get two BAS statements ready. Then you can apply for this visa. The processing time is approximately ten days,” she explains.