Queensland offers a 491 Small Business Owners visa to entrepreneurs on "easy terms" at a minimum of 50 points.
Highlights:
- BSMQ has made some changes to the eligibility criteria of Subclass 491 visa (SBO).
- Now startups are not eligible for this visa stream.
- The applicants can only hire Australian residents.
The state nominates business migrants in industries that are in demand, for both provisional visas and permanent residency, which allows migrants to invest in a business in Queensland.
What are the requirements, take a listen:
Business and Skilled Migration Queensland (BSMQ) has made some changes to the eligibility criteria of this visa.
Brisbane-based migration agent Suman Dua says the applicants are now supposed to have prior experience to apply for this visa.
"The applicants should have prior business experience (operating the business successfully for at least six months meets these criteria), qualifications to run the business successfully or previous family-run business experience," explains Ms Dua.
BSMQ has also clarified that the visa stream is not available for start-ups or home-based businesses. Franchise businesses will only be considered if they are operating for at least a year before the purchase.
Applicants can only hire Australian residents as workers where an Australian resident means an Australian permanent resident, Australian citizen or New Zealand citizen on a subclass 444 Special Category visa.
Changes to Victoria State Nomination Program
Victoria has also announced small changes to the eligibility criteria for 491 visa.
According to the conditions added to the eligibility criteria of the 491 visa (Employment and occupation) category the business where an 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.
Disclaimer: We’d like to point out that the information contained in this segment is general and is not specific advice. If you would like accurate information relevant to your situation, you should ask a registered migration agent.
