491 – Small Business Owners pathway

The Migration Queensland Skilled Program (subclass 190 and 491 visas) is now closed due to the nomination allocation for 2021–22 program year being filled.

If you have already received an invitation, your application will continue to be processed by Migration Queensland.

If you are a 491-SBO applicant and have submitted your EOI and 491-Small Business Owners Assessment Form via our website by Friday 6 May 2022, you will still receive an invitation, however, given the large demand for this pathway the processing time may be up to 8–12 weeks.

For those who have not submitted an EOI and 491-Small Business Owners Assessment Form for the 491-SBO by Friday 6 May 2022, you will need to submit a new EOI and form when the 2022–23 Skilled Program opens next financial year.

Changes from 1 April 2021

Your purchased pre-existing business must:

• have been in operation for 2 years, instead of 1 year, and
• have had a minimum purchase price of $100,000, rather than total investment in the business.

Commission agents or leasing agents of franchises (such as petrol stations), and home-based businesses (such as courier and cleaning businesses) will not be considered.

Businesses purchased before 1 April 2021 are not subject to these requirements. However, you must have a valid contract for the business before this date, ie the business must have settled.

New criteria

Those that have started a business and have continuously run that business for a minimum of 2 years can now apply for the 491-SBO visa stream. The business must be generating a profit and have a turnover of $200,000 in the 12 months prior to application.