491 – Small Business Owners pathway
The Migration Queensland 491 – Small Business Owners Pathway (SBO) is OPEN for the 2022–23 program year.
Applicants for the 491 – Small Business Owners Pathway (SBO) must:
Pathway 1 – Purchase an existing business
- Have an occupation on LIN 19/051 relevant to 491.
- Purchase an existing business in an existing location, for a minimum of $100,000.
Pathway 2 – Start-up business
- Have started and operated a profitable business in Queensland for at least 2 years immediately prior to submitting an EOI
- Minimum $200K turnover in the last 12 months.
For further criteria details please review the Small business owners in regional Queensland page
Criteria Clarifications FY22-23:
- No vendor financing
- No company share transfer (must have a contract of business sale)
- Applicants cannot purchase a business from a family member
- Applicants cannot purchase a business previously owned by a 491-SBO applicant
- Commission agents or leasing agents of franchises (such as petrol stations), and home-based businesses (including those with virtual offices) will not be considered.
- Applicants must operate their business for at least 3 years in a regional area (may be subject to monitoring).
Please note: Applicants for the 491 Small Business Owner (SBO) pathway with Migration Queensland have signed a declaration under (item 7(b) to: ‘operate a business and reside in Queensland for at least three years from visa grant’. Should an applicant choose to sell their SBO business prior to this time, Migration Queensland has the option to withdraw the nomination of the 491 visa to allow the applicant to explore other visa options.
Applicants need to be aware of this condition prior to committing to this visa pathway.