The Queensland state government last week finally updated its official website and opened state nomination, and while a graduate stream has been made available, requirements for undergraduate and postgraduate applicants remain quite high,the Subclass 491 small business stream(Small Business Owners Pathway) has been retained and continues to be the option suited to a wider range of applicants. Today we give a brief introduction tothe new rules for this financial yeargoverning Queensland’s small business Subclass 491.
For the local graduate stream and the local work stream, please refer back to our earlier post on the new policy:[Issue 208 — Australia Migration Weekly Bulletin] QLD Now Open!
Latest: Start-up New Business Ventures
This round also introduces start-up / new business ventures, which broadens the scope considerably compared with previously only being able to purchase an existing business.
A start-up business must have been operating for at least two years prior to lodging the EOI, and must have an annual turnover of no less than AUD 200,000.
Queensland Small Business Subclass 491 Requirements
First, applicants must meet the basic eligibility requirements for the Subclass 491, including:
– an EOI points score of at least 50 (base points),
– a skills assessment for an occupation on the Department of Home Affairs’ eligible occupation list for the Subclass 491,
– be under 45 years of age, and have English proficiency of at least Competent English (equivalent to IELTS 6 in each band).
Queensland Small Business Subclass 491AdditionalRequirements
The updated Queensland migration authority has released the latest additional conditions:
– the contract price of the businessmust not be less than AUD 100,000, and must be100% ownership.
– businesses purchased after 1 April 2021 must have been in existence for 2 years; businesses purchased before that date must have been in existence for 1 year.
– the business must have been operating for at least 6 months prior to lodging the EOI.
– the applicantmust hold a visa that includes full-time work rights (at least 35 hours per week) and must be running the business full-time,meaning that visas such as a student visa (Subclass 500 primary applicant) that restrict full-time work are not eligible.
– the business must be located in a regional area of Queensland and cannot be a home-based business.
– you must employ at least one Australian local resident — this can be an Australian citizen, a PR holder, or a New Zealand citizen holding a Subclass 444 visa — working a minimum of 20 hours per week.
This financial year,the ACT state nomination programmehas also introduced a small business pathway; many applicants will naturally look tocompare and find the optionbest suited to them; below we briefly compare the two on their basic requirements:
Each With Its Own Strengths — Small Business Policies of Both States
Choose Queensland
If you cannot achieve IELTS 7 in each band, choose Queensland
For most university students across disciplines, an IELTS score of 7 in each band is a hard requirement set by the ACT government. If English is a major challenge for you — costly and time-consuming — Queensland has no such requirement; a score of 6 in each band, meeting the minimum threshold for skilled migration, is all that is needed.
If your occupation is not on the ACT critical list, choose Queensland
For most applicants who did not study in Canberra and whose occupation is not on the critical list, that means losing 20 points straight away, making it difficult to reach the 65-point invitation score. In such cases, Queensland’s small business pathway — which places no restrictions on occupation — is well worth considering.
In summary, Queensland’s small business applications are processed at the highest priority — receiving an invitation within one business day is extremely common, and meeting the requirements virtually guarantees an invitation. This has given many accounting students tremendous confidence, and our success stories are numerous. The ACT small business pathway’s eligibility for the Subclass 190 is genuinely attractive; if you have sufficient time remaining on your visa and can accumulate 80+ points, it represents another solid pathway to permanent residency.
Choose the ACT (Canberra)
1. If you simply do not have AUD 100,000, choose the ACT
AUD 100,000 is no small sum for a recent graduate hoping to migrate — especially for those fresh out of university who may not even understand what running a business involves. Being suddenly required to put up AUD 100,000 to start a business would leave many feeling lost. The ACT government sets no minimum investment requirement precisely to encourage applicants to try the business they want at a lower barrier to entry, thereby bringing new vitality and commercial opportunities to Canberra.
2. If your points score is already not high, and you have a spouse whose circumstances cannot add points to your EOI, choose the ACT
The ACT is a place that doesn’t test true love — your spouse can only add points for you, never drag your score down.
Next, we summarise some frequently asked questions
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Queensland Subclass 491 Small Business — Frequently Asked Questions
Q1. Do the business address and residential address have to be in the same area?
No — as long as the postcode of the business address and the postcode of the residential address both fall within a regional area of Queensland, this requirement is met.
Q2. How many employees do I need to hire?
You must hire at least one local employee, and you may hire up to two local employees simultaneously; they cannot be family members or subcontractors. The minimum 20-hours-per-week requirement can also be met by hiring two local employees who each work 10 hours per week.
Q3. Can I purchase a franchise?
Yes — the option of purchasing an existing business includes franchises; however, please note that the franchise must have been in operation for at least 2 years prior to purchase.
Q4. What are the different requirements for businesses purchased before 1 April 2021 versus those purchased after that date?
For businesses purchased before 1 April 2021, the AUD 100,000 requirement may include the purchase price of the business, the value of stock, and other capital invested — such as equipment and fit-out costs. For businesses purchased after that date, the contract price alone must be no less than AUD 100,000, excluding any other capital invested.
Q5. Do I need to continue operating the business after being granted the Subclass 491?
The Subclass 491 is a 5-year temporary visa. After it is granted, you only need to live and work in a regional area for 3 years and earn a taxable income of AUD 53,900 per year — continuing to operate the business used to apply for the Subclass 491 is not mandatory.
If you have further questions about the Queensland small business pathway,
you are welcome to scan the QR code to consult one of our advisers.
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