Small Business Owner pathway – what is it?
|Eligibility
Applicants who would like to apply for SBO pathway need to meet 2 series of criteria:
|Department of Home Affairs Immigration Eligibility Criteria
– have a positive skills assessment in your nominated occupation
– be under 45 years of age
– meet the minimum requirement for the English language, unless a higher level is required
– submit additional documents, just in case of an invitation to lodge an application for a 491 visa.
|States eligibility criteria
Migration Queensland criteria
– An existing visa that allows full-time work and the ability to operate the business for a minimum of 35 hours per week
– Been living in a regional area for at least 6 months prior to lodging an EOI (expression of interest)
– Purchased an existing business in regional Queensland and paid at least $100,000 for the business
– 100% ownership in the business (for example, you cannot be in a partnership)
– Been trading in the business for six months prior to lodging the 491 visa application
– At least one Australian resident employed for a minimum of 20 hours per week
– Evidence of sufficient settlement funds.
Unfortunately not all the business can apply for this pathway, the unqualified business are:
– Home-based businesses
– Part owned
– A business that has already been used for the Queensland SBO stream.
More info here
Migration Tasmania Criteria
Tasmania offers an SBO pathway under the Visa Subclass 491. Here’s some of the major conditions:
– Be living in Tasmania when you lodge your 491 application
– Have established and operated your business for at least six months
– Show that the business would offer you a personal income that exceeds the taxable income requirement set by Department of home affair ($53,900 per year at the time of writing) for at least three years in the next five years
-Provide a comprehensive business plan, including evidence of research and understanding of the target market, relevant industry conditions and licensing or registration requirements
– Prior business ownership or business management experience.
Unfortunately not all the business can apply for this pathway, the unqualified business are:
– Franchises
– Share-owned businesses
– Service stations
– Massage clinics
– Taxi/Uber related businesses.
More info here
Migration Canberra Criteria
Canberra also offers a pathway for the small business owner for the subclasses 491 and 190 visa. Here’s some of the major conditions.
-You must reside in Canberra for a minimum of 3 months to be nominated for subclass 491 and must reside for a minimum of 6 months to be
nominated for subclass 190
– One can either purchase an existing business or start a new one
– To be nominated for the subclass 190, you need to have a minimum salary of AUD 26000 for at least 6 months. For 491 nominations, you
must have a minimum salary of AUD 13000 for at least 3 months
– A minimum of 51% of the business ownership, and the other partner(s) has to be an Australian citizen or permanent resident
– Annual Business Turnover AUD 200,000 (or pro rata)
– A minimum of 51% of the business ownership, and the other partner(s) has to be an Australian citizen or permanent resident.
– You have to employ a minimum of one employee who is either an Australian Citizen, or Permanent Resident, or New Zealand Citizen for a
minimum of 13 weeks with at least 20 hours/ week.
Unfortunately not all the business can apply for this pathway, the unqualified business are:
– Sub-tenancy
– Ride-share/ taxi
– Courier Services
– A business that has already been used for the ACT SBO stream.
More info here
Remember that State Nomination programs open and close periodically and SBO pathways are also subject to nomination allocations (quotas).
To get in touch with Get Your Visa to know more about the process of these visa , just call us on (08) 6117 4152 or write us at hello@getyourvisa.com.au or click on this following like to book your appointment https://www.getyourvisa.com.
