Tired of scraping together points? Heartbroken from waiting for an invitation? Here are three small-scale “investment” migration options for those considering skilled migration!

First, the Queensland small business stream is a type of skilled migration,where applicants need to obtain state nomination by running a small business in a regional area of Queensland,while also meeting the Department of Home Affairs’ requirements for the Subclass 491 regional state-nominated visa.

The Queensland small business stream suitsapplicants who are currentlyonshore in Australia. The applicant needs to pass a skills assessment and hold a visa that allows full-time work.For example, a recent accounting graduate with an interest in running a business could consider this migration pathway.

And the state government is currentlyquite encouraging of the small business stream, and has committed to giving it priority processing.

Since the state government adjusted its small business policy on 1 April this year, let’s look at the state’s requirements before and after that date.

Requirements before 1 April 2021:

Invest in one business worth at least AUD 100,000 in a regional area of Queensland

– The applicant must hold 100% ownership

– The business must have been operating for at least six months

– Employ at least one local employee who holds Australian permanent residency, working at least 20 hours a week

– Must hold a visa that allows full-time work, ideally with at least 9 months’ validity remaining — a student visa is not acceptable

Requirements after 1 April 2021:

– The business being purchased must have already been operating for at least 2 years before takeover;

– The business purchase contract price must be at least AUD 100,000 or more (fit-out, equipment and similar costs are not included)

– The applicant must hold 100% ownership

– The business must have been operating for at least six months

– Employ at least one local employee who holds Australian permanent residency, working at least 20 hours a week

– Must hold a visa that allows full-time work, ideally with at least 9 months’ validity remaining — a student visa is not acceptable

– Sub-leased franchise-style businesses are no longer accepted (e.g. petrol stations);

– Home-based businesses are no longer accepted (e.g. cleaning companies, courier services, etc.);

– Monitoring processes will be considered, to help ensure the small business can keep operating for more than 3 years;

– A small business that has already been used for a 491-SBO application cannot be sold to another applicant for a further 491-SBO application;

– Small businesses purchased before 1 April 2021 are not affected by the above policy changes.

Department of Home Affairs requirements for the Queensland 491 small business stream:

– Under 45 years of age

– EOI points score of at least 65 (including the 15 points for state nomination)

– Valid qualifications (completion letter, academic transcript)

– A valid skills assessment (a broad range of occupations is eligible)

– IELTS 6 in each band, or PTE 50 in each component

From the above, we can see that while the state government offers priority processing, the policy is also trending stricter,so if you’re considering applying, don’t hesitate — start looking into it as soon as possible.

This programis only available to applicants who are currently offshore, and who have not held a long-term Australian visa (such as a student or work visa) in the past five yearsApplicants need to pass a skills assessment and score at least 65 points, then invest AUD 500,000 into the Northern Territory — AUD 400,000 into state bonds and AUD 100,000 into a fund company.

The Northern Territory MINT programis currently the only skilled migration pathway that’s open exclusively to overseas applicants, doesn’t require a high points score, and lets you go straight to PR in one step. Compared with investment migration, the investment amount is also lower and more stable.

Occupations commonly held by overseas applicants include:

IT occupations,such as software engineer, network engineer, programmer, etc.

Engineering occupations,such as civil engineer, electronics engineer, electrical engineer, geologist/geotechnical engineer, mining engineer, etc.

Business occupations,such as accountant, marketing specialist, graphic designer, interior designer, etc.

Northern Territory MINT program — Subclass 190/491 requirements

– Under 45 years of age

– EOI points score of at least 65 (including the 5 or 15 points for state nomination)

– A valid skills assessment (the occupation must appear on the Northern Territory Skilled Occupation Priority List)

– IELTS 6 in each band, or PTE 50 in each component

– Evidence of AUD 515,000 in funds with a clear, legitimate source

It’s worth noting thatthe Northern Territory MINT program does not allow applicants to lodge their own application — it must be lodged by a panel agent.This applies to both onshore and offshore applicants. Newstars has a MARA-registered migration agent who is a panel agent — get in touch to find out more!

The Subclass 188A Business Innovation stream is one of three main categories under Australia’s business migration Subclass 188 visa,and this visa suits applicants who are currently running a business, or who are preparing to run one.

The advantage of 188A is thatonce the applicant is granted the visa, the required investment is small — some states only require an investment of AUD 200,000 into that state.

Department of Home Affairs requirements for 188A:

– Under 55 years of age

– EOI points score of at least 65

– Obtain state government nomination (requirements vary by state — contact us for an assessment)

– Annual business turnover of AUD 500,000 in two of the past four financial years (this becomes AUD 750,000 after 1 July 2021)

– Personal and business net assets of AUD 800,000 held jointly with your spouse (this becomes AUD 1,250,000 after 1 July 2021)

– Business ownership in at least 2 of the past 4 years: at least 51% (turnover under AUD 400,000) or at least 30% (turnover over AUD 400,000) or at least 10% (listed company)

– A successful business career

Before lodging a 188A visa application, applicants must first submit an EOI and obtain nomination from a state or territory government. The 188A visa is valid for 4 years and 3 months from the date of grant. Once approved, applicants must run a business in Australia for 2 years and be involved in its day-to-day management, and after completing 2 years in Australia within that 4-year period, they can transition to the Subclass 888 Business Innovation and Investment (permanent) visa.

It’s worth noting thatfrom 1 July 2021, the validity of the 188A visa changes from the original 4 years and 3 months to 5 years.And,for applicants who apply for 188A after 1 July 2021, they will need to run a business in Australia for three years before transitioning to the 888 permanent visa. 

So, to apply for the 888 permanent visa, applicants need to meet the following:

– Have resided in Australia for a total of one year within the two years before applying for permanent residency, or two years within the four years before applying;

– In the 12 months before applying for permanent residency, the annual turnover of the Australian business must be no less than AUD 300,000 (if you live or run a business in a designated regional area, the state government may waive this AUD 300,000 turnover requirement);

– Before applying for permanent residency, hold one of the following business interests (multiple businesses can be combined):

1. Hold no less than 30% ownership in a company with annual turnover exceeding AUD 400,000;

2. Hold no less than 51% ownership in a company with annual turnover under AUD 400,000;

3. Hold no less than 10% ownership in a listed company;

– Before applying for permanent residency, meet at least 2 of the following 3 conditions

1. In the year before applying for permanent residency, net business assets of no less than AUD 200,000 across one or two businesses;

2. In the year before applying for permanent residency, combined net business and personal assets of no less than AUD 600,000 across one or two businesses;

3. In the year before applying for permanent residency, employ at least two local employees equivalent to full-time (must be Australian citizens, permanent residents, or New Zealand passport holders — family members don’t count);

One of the highest-priority categories in state nomination — find out more! Business, engineering and IT backgrounds all have a chance!

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