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491 Visa Eligibility Criteria update: Queensland and Victoria

BSMQ Queensland

Changes in Subclass 491 - SBO pathway eligibility 

Eligibility criteria for the Subclass 491 Small Business Owners pathway has been updated by BSMQ. Updated BSMQ criteria requires you to:

  • have an occupation on HA s Legislative instrument (LIN 19/051)
  • have prior business experience (operating the business successfully for at least 6 months meets this criteria), qualifications to successfully run the business, or previous family-run business experience.
  • be on a visa that allows full-time work and operation of the business for a minimum of 35 hours per week
  • have purchased an existing business in regional Queensland (Note: not available for start-ups or home-based businesses, franchise businesses must have been operating for at least a year prior to purchase)
  • invested a minimum of $100,000 in the business prior to submitting an EOI
  • 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. Please note: an Australian resident for 491-SBO purposes is an Australian permanent resident, Australian citizen or New Zealand citizen on a subclass 444 Special Category visa.
  • provide evidence of sufficient settlement funds. 

Source: https://migration.qld.gov.au/skilled-visa-options/im-operating-a-small-business-in-regional-queensland/

 

VIC State Nomination Program

Eligibility criteria for 491 visa updated 

Following conditions are added to the eligibility criteria of the 491 visa (Employment and occupation) category. The business where applicant is working must be:

  • active and operating in regional Victoria for at least two years; and
  • be located in a designated regional area of Victoria. 

Source: https://liveinmelbourne.vic.gov.au/migrate/skilled-migration-visas/491

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