491 – Small Business Owners pathway
The Migration Queensland 491 – Small Business Owners Pathway (SBO) is now 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 relocate or sell a business before receiving approval from MQ
- 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).