Documentation checklist - 491 Small Business Owner
Below is a list of the documents you will need if you are selected for Queensland nomination and invited to apply through either small business owner pathways 1 or 2.
Please note that we will only consider current versions of forms, which are available in your document portal. These documents are the minimum requirement to support your Queensland application. If required, we may request more information or supporting documents.
Pathway 1 – Business purchase | Pathway 2 – Start-up business | |
|---|---|---|
491 Small Business Owner Application Form | tick | tick |
Passport bio page | tick | tick |
VEVO statement | tick | tick |
Skills assessment | tic | tic |
Evidence of business ownership | tick | tick |
Evidence of business address | tick | tick |
Evidence of residential address | tick | tick |
Contract of business purchase | tick | cross |
Settlement statement (of business purchase) | tick | cross |
Evidence you have been operating the business since ownership | tick (previous 6 months) | tick (previous 2 years) |
Evidence of business age | tick | cross |
Bank statements for business | tick | tick |
Audited profit and loss statement | tick | tick |
Evidence of Australian employee/s | tick | cross |
Evidence you have been working full-time in the business since ownership | tick | tick |
Document checklist explanatory notes
- 491 Small Business Owner application form – this form is required for all 491 SBO applicants. It is only available when you receive an invitation from Migration Queensland.
- Passport bio page – a high-quality colour scan of your passport bio page.
- VEVO statement – a copy of your recent Visa Entitlement Verification Online (VEVO) statement. VEVO allows a visa holder to check their visa conditions and validity.
- Skills assessment – provide a valid skills assessment in your nominated occupation.
- Evidence of business ownership – a current and historical Company Extract from the Australian Securities and Investments Commission (ASIC) that shows 100% ownership of your business. Also provide your Australian Business Number (ABN) or Australian Company Number (ACN).
- Evidence of business address – your current commercial rental lease agreement.
- Evidence of residential address – your current rental lease, or a recent utility bill (issued within the last 3 months) that includes your name. If this cannot be provided, please provide a statutory declaration stating your current residential address.
- Contract of business purchase – all business registration details, and documentation of the transaction, must be in your name (not a partner or dependant). The business purchase price cannot include assets purchased after settlement.
- Settlement statement (of business purchase) – this document must include the date and location of final settlement, list the names of the buyer and seller, and show the breakdown of settlement amounts, including settlement amount distribution.
- Evidence you have been operating the business since ownership
o For start-up businesses: 8 quarterly BAS statements from the ATO from the past 2 years as evidence that the start-up has been operating for 2 years.
- Evidence of business age – evidence that the business has been operating for at least 2 years in its current location immediately before purchase. Provide 8 quarterly BAS statements or 2 years of audited financial records.
- Bank statements for business – business bank statements for the previous quarter. Please provide and highlight staff wages, and any business-related transactions, including revenue.
- Audited profit and loss statement – this statement must be produced by a registered accountant.
o For business purchase: this statement must cover the 6 months (minimum) immediately before submitting your ROI.
o For start-ups: this statement must show that the business is generating a profit and had a turnover of $200,000 in the 12 months before submitting your ROI.
- Evidence of Australian employee/s – evidence of employing at least 1 Australian resident working a minimum of 20 hours a week, or 2 employees working a minimum of 10 hours each, at the time of invitation. This cannot be a family member or a subcontractor.
An Australian resident, for the purposes of the 491 SBO pathway, is an Australian citizen, an Australian permanent resident, or a New Zealand citizen usually residing in Australia on a Special Category visa (subclass 444). Acceptable evidence of residency includes a copy of the employee/s Australian passport, Australian birth certificate, citizenship certificate or VEVO statement. Also provide 2 recent payslips that indicate the hours worked by these employees.
- Evidence you have been working for the business full-time since ownership – a statutory declaration that states the applicant has been working for the business full–time since ownership.