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Australian PR Available for 50 Points: Pathway for Small Businesses

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23Jul
2020

Australian PR Available for 50 Points: Pathway for Small Businesses

Individuals and families seeking to immigrate to Australia to start a new life and a new career are finding it difficult to do so, because of the lack of helpful visa options. Migration in Australia has been steadily shrinking since the last few years, and there is an intense amount of competition involved when it comes to popular professions such as doctors, engineers, scientists, etc.

Migration Agent Perth

However, the state of Queensland has started to enact new policies, which are designed to attract entrepreneurs and business owners. These new options will offer individuals an easy and less rigorous pathway to permanent residency. Here are the main highlights:

Highlights

  • The Queensland territory is going to nominate migrants who are business owners in some key industries, which are highly in demand in the current scenario.
  • The Queensland territory is going to offer 491 Small Business Owners Visa to these migrant business owners, which requires them to make a minimum business investment of 100,000 AUD.
  • This pathway to Australian permanent residency is only available to applicants who are currently onshore. An onshore applicant is an individual who is currently residing in Australia legally under a different type of residency visa.

Additional aspects

One of the main options for individuals and business owners who want to achieve permanent residency is to apply for a nomination from the Business and Skilled Migration Queensland (BSMQ). BSMQ is the state nominating body for such applicants, and they have made the pathway to permanent residency easier and less complicated than it was before. The 491 Small Business Owners Visa stream will allow immigrants to apply if they have a minimum of only fifty points, a very sizable relaxation. There are also no limits to the number of occupations.

Important News – New Changes in Australian Visas For International Students & Skilled Migrants: July 2020 Migration Update

According to the BSMQ or Business Skilled Migration Queensland, the state of Queensland is going to nominate migrants who are business owners in several in-demand industries. These migrants are going to be provided provisional 491 visas, and will eventually find themselves on the path towards permanent residency. This new and relaxed pathway will allow such migrant business owners to invest and set up new businesses, stores, etc. in Queensland itself. This new visa stream is meant especially for entrepreneurs, business owners, investors, etc. who are very interested in purchasing, establishing, and running a small-to-mid scale business somewhere in regional Queensland.

The basic rundown

To be eligible for this pathway to visa subclass 491 and permanent residency, you need to invest at least $100,000 in a business based out of regional Queensland. Additionally, you also have to run the establishment for at least 6 months. The business does not have to be connected to the occupation that the migrant lists in their Skill Assessment. An accountant can start a restaurant, a garage, etc. Here are the primary requirements to qualify for subclass 491.

  • Only available to onshore applicants.
  • You need to have lived in the region for at least 6 months.
  • The investment must be greater than $100,000.
  • Start-up businesses are not eligible in this pathway.
  • The existing business needs to employ at least one Australian citizen, who must be working at least 20 hours a week. Business owners have to make sure that this employee is not a sub-contractor or a family member.

Read Also – Skilled Visa Nomination Program 2019-2020: Latest Changes To Skilled Nomination and Visa Conditions

The process isn’t that difficult and can be executed quite fast. You can arrive in Queensland, own a business, and have to get 2 BAS statements ready. Then it would be easy to apply for the visa and the processing time would be around 10 days. If you need detailed information and guidance in such matters of immigration, contact Migration Agent at ISA Migrations immediately.

Image Source – Getty Images

Tags: Australian Citizenship ,Australian Permanent Residency ,Australian PR

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