Queensland Business and Skilled Migration Program Opens on 1 February 2021
More great news is coming for Business and Skilled Migration program applicants! The latest news update is Queensland Government to re-open the Business and Skilled Migration Program on 1 February 2021.
Following the announcement, the Queensland Government will re-open some pathways only.
What visa program will reopen in Queensland? Let’s discuss it further below.
What is BSMQ?
Business and Skilled Migration Queensland (BSMQ) is the state nominating body for the Queensland Government and part of the business unit of Trade and Investment Queensland (TIQ). Working with the Department of Home Affairs, BSMQ nominates successful skilled and business applicants who want to migrate and establish themselves in Queensland.
If you wish to migrate to Queensland under the skilled migration program, you must meet the minimum required point which is 65 according to the Australian regulation. Hence, BSMQ will not select any applicants that score below 65. Besides, you must be sure that your nominated occupation is listed on the Queensland Skilled Occupation List (QSOL).
Find your occupation on QSOL here.
Queensland Business Program
The Queensland Government announced its BSMQ Business program is open. BSMQ will also priorities four business streams:
- 188 – Innovation Stream
- Business Innovation Stream Visa is a provisional visa that allows you to run a new or existing business in Australia for up to 4 years and 3 months. To apply for this visa, you must pass the minimum required point 65. You must also show the proof of your business success and have a total net business and personal assets of at least AUD800,000.
- 132 – Significant Business History Stream
- Significant Business History Stream Visa is for experienced business owners to operate a new or existing business in Australia permanently. You must have a net value of at least AUD1.5 million, an annual business turnover of at least AUD3 million, and a total net assets of at least AUD400,000.
- 188 – Significant Investor Stream
- To hold a Significant Investor Stream Visa, you must be nominated by a State or Territory government agency to invest at least AUD5 million and have intention to hold the investment for at least for 4 years. You must also show your intention to live in the State or Territory whose government agency nominates you. Once you hold this visa, you can live in the State or Territory for up to 4 years and 3 months.
- 188 – Entrepreneur Stream
- If you undertake or propose to undertake an entrepreneur activity in Australia and have a funding agreement of at least AUD200,000 to carry out the entrepreneurial activity, you might be eligible for a Business Entrepreneur Stream Visa. You must show your business plan to support your entrepreneurial activity in Australia. By holding this visa, you can stay in Australia for up to 4 years and 3 months.
BSMQ will also prioritise businesses that create jobs, OR support COVID recovery industries and OR located in a regional area.
Queensland Skilled Program
The Queensland Government also announced to re-open the standard 491 and 190 programs for onshore applicants only on 1 February 2021. Important note regarding the EOI (Expression of Interest) application; the applicants do not need to lodge an EOI before 1 February 2021, as the EOI will not be picked up.
Besides, the Queensland Government has opened the 491 – SBO (Small Business Owners) pathway since 18 December 2020. Important note for 491 – SBO pathway applicants; they need to submit a 491 – SBO Assessment Form prior to submitting an EOI. Once you submit the assessment form, your EOI will be picked up.
Read more about the Skilled Migration Program here.
What does it mean for Skilled Migrants who wish to live in Queensland?
It has been six months since the Queensland Government closed its BSMQ program on 1 July 2020 due to the COVID-19 Pandemic that forced Australian Government to temporarily close their Business and Skilled Migration program.
By re-opening the Program, as an entrepreneur or a skilled worker, you get your chance back to continue your business or your work. Evenmore, if you are eligible for one of the visa streams mentioned above, your visa processing will be prioritized.
Even though the skilled Program is only open for onshore applicants, it still brings a positive change for people who lost their jobs due to COVID-19 and are stuck in Australia. Working in Queensland can be a good option for you if you wish to continue to stay in Australia, especially in Queensland.
Read here for ten reasons to migrate to Australia.
Still not sure how this can affect you? Please speak to us; we are here to help!
We understand that applying for a visa to Australia is certainly very complicated. It is even more challenging during the COVID-19 Pandemic. Our visa specialists at ONEderland Consulting will help you assess your visa options. We have a 98% success rate and one of the most highly recommended migration agents in Australia. Read our 4.9* score customer reviews.
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