Migration Queensland documentation checklist -
491 Small Business Owner
Below is a list of the documents required for a 491 SBO application:
Pathway 1 – Business Purchase | Pathway 2 – Start-ups | |
|---|---|---|
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 six months) | tick (previous two 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 are working full-time in the business | tick | tick |
Note: Only current versions of forms will be considered. All applicable application forms are available on the documents and form page. These documents are the minimum requirement to support a state nomination application. Further information or supporting documents, if required, may be requested at Migration Queensland’s discretion.
Document checklist explanatory notes
491 Small Business Owner application form – required for all 491 SBO applicants. This form is only available when you receive an invitation from Migration Queensland.
Passport bio page – legible (in colour) scan of primary applicant’s valid passport bio page.
VEVO statement – Visa Entitlement Verification Online (VEVO) allows a visa holder to check their visa conditions and validity. Please provide a copy of primary applicant’s most recent VEVO statement.
Skills assessment – valid skills assessment in the primary applicant’s nominated occupation.
Evidence of business ownership – a current Company Extract from Australian Securities and Investments Commission (ASIC) that demonstrates 100% ownership of the business. Also provide your Australian Business Number (ABN) or Australian Company Number (ACN).
Evidence of business address – applicant’s current commercial rental lease agreement.
Evidence of residential address – applicant’s current rental lease, or a recent utility bill (issued within last three months) that includes the primary applicant’s name. If this cannot be provided, a statutory declaration declaring your current residential address will be required.
Contract of business purchase – all business registration details, and documentation of transaction, must be in the name of the primary applicant (not a partner or dependant). The business purchase price cannot include assets purchased after settlement.
Settlement statement – this document must include the date and location of final settlement, list the names of buyer and seller, and show the breakdown of settlement amounts, including settlement amount distribution.
Evidence you have been operating the business since ownership
For business purchase – within the past six months: provide two quarterly Business Activity Statement (BAS) from the Australian Taxation Office (ATO) as evidence that the business has been trading for a minimum of six months after settlement. The primary applicant must have operated the business for the full duration of the last two quarters.
For start-ups businesses – within the past two years: provide eight quarterly BAS statements from the ATO as evidence that the start-up has been operating for two years.
Evidence of business age – evidence that the business has been operating for at least two years in its current location immediately before purchase. Provide eight quarterly BAS statements or two years of audited financial records.
Applicants should include this requirement for eight BAS statements from the seller within the contract of business purchase.
Bank statements for business – provide business bank statements for the previous past quarter. Please provide and highlight staff wages and any business-related transactions, including revenue.
Audited Profit and loss statement – must be produced by a registered accountant.
For business purchase: this statement must cover the six months (minimum) immediately before submitting your EOI.
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 prior to submitting your EOI.
Evidence of Australian employee/s – provide evidence of employing at least one Australian resident working a minimum of 20 hours a week, or two 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 Australian passport, Australian birth certificate, citizenship certificate or VEVO statement. Also provide two 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 declares the applicant has been working for the business full–time (a minimum of 30 hours per week) since ownership.