Pathways for Small Business Owners in Regional Queensland: Skilled Work Regional Visa (subclass 491)
The Skilled Work Regional (Provisional) visa (subclass 491) offers a pathway for small business owners living and operating in regional Queensland to secure Australian residency. Migration Queensland has opened this visa pathway for the 2024-2025 financial year to help address regional growth by supporting small business development.
What is the Subclass 491 Visa?
The subclass 491 visa is a points test based and provisional visa that gives a pathway to permanent residency for skilled workers including small business owners. It allows holders to live, work, and study in regional Australia for five years, with the option to apply for permanent residency after three years. The visa is designed to support economic growth in regional areas by encouraging skilled migration and entrepreneurship.
For small business owners, Migration Queensland offers two distinct pathways under the subclass 491 visa: Pathway 1 (Business Purchase) and Pathway 2 (Start-up Business). These pathways aim to promote both the acquisition of existing regional businesses and the creation of new enterprises.
Pathway 1: Business Purchase
This pathway requires applicants to purchase an established business in regional Queensland, outside of South East Queensland, for at least $100,000. The business must have been operational for at least two years prior to purchase and the buyer must maintain 100% ownership.
Applicants are required to:
- Operate the business full-time for at least six months before submitting an Expression of Interest (EOI).
- Have at least one Australian resident employee (not a family member) for a minimum of 20 hours per week.
The eligible postcodes for businesses purchased after September 1, 2024, are specific to regional areas. These include a wide range of towns, from 4370 to 4895, focusing on areas that need economic stimulation.
Pathway 2: Start-up Business
For entrepreneurs looking to start a new business, Pathway 2 provides opportunities to build a successful enterprise in regional Queensland. To qualify:
- The business must be operational for a minimum of at least two years.
- It must have a turnover of $200,000 in the year before submitting the EOI.
- 100% ownership must be maintained, and the business must operate full-time (at least 30 hours per week).
Eligible postcodes for start-ups include areas from 4019 to 4895, with a focus on smaller regional towns. However, start-ups in more urban areas like the Gold Coast are not eligible.
Additional Eligibility Requirements
To qualify for either pathway under the subclass 491 visa, applicants must also meet basic criteria set by both the Department of Home Affairs and Migration Queensland, including:
- A points score of 65 or higher. Check how many points you get by clicking here.
- A positive skills assessment in the applicant’s nominated occupation. (PLEASE NOTE, THE OCCUPATION DOES NOT NEED TO BE RELATED TO THE BUSINESS)
- Be under 45 years old.
- Competent English.
Applicants must also ensure that their business complies with specific regulations, such as not engaging in passive investments (e.g., management rights or home-based businesses). Franchises can be purchased, but only with the approval of the Master Franchise (franchisor).
Visa Application Process
The application process for the subclass 491 visa is structured in a series of steps:
- Keep in mind that it is very important to always review the eligibility based on the criteria set by the Department of Home Affairs and Migration Queensland.
- Submit an Expression of Interest (EOI) through the SkillSelect system, indicating Queensland as the preferred nominating state.
- Lodge a Registration of Interest (ROI) for the 491 Small Business Owners pathway on the Migration Queensland website.
- If selected, applicants will receive an invitation to apply from Migration Queensland and must submit supporting documentation electronically.
- After nomination by Queensland, applicants will only have 60 days to apply for the visa through the Department of Home Affairs.
Important Considerations for Applicants
While the subclass 491 visa provides a clear pathway to gaining Australian residency, it is important for applicants to:
- Obtain professional legal and financial advice before purchasing a business or starting a new venture.
- Understand that the business must operate in regional Queensland for at least three years after the visa is granted.
- Ensure all visa conditions are met to maintain eligibility for permanent residency under the subclass 191 visa.
Migration Queensland may conduct monitoring to ensure compliance with visa conditions, and failure to meet these conditions may result in withdrawal of state nomination.
The subclass 491 visa for small business owners presents a unique opportunity for entrepreneurs and business buyers to establish themselves in regional Queensland while contributing to local economies. With clear pathways for both business purchases and start-ups, the program is designed to promote long-term regional development through skilled migration and small business growth. However, applicants must carefully follow the requirements and seek professional guidance to ensure success in their visa application and business venture.
How Pathway to Aus can help?
Australia’s immigration landscape is intricate, with numerous visa options & requirements that can make the process overwhelming. Let Pathway to Aus simplify the immigration process for you. Book a consultation today! During a consultation, we’ll evaluate your unique situation, assess your eligibility, and outline the most suitable visa pathways. With tailored advice and strategic planning, we aim to maximise your chances of success. Focus on your future in Australia while we handle the complexities of immigration.
