Can 494 visa help to acquire permanent residency?
This visa is provided for 5 years. You can link this visa to the permanent residence via the Subclass 191 (Permanent Residence (Skilled Regional)) Visa by fulfilling these criteria:
1. You have spent a minimum of 3 years working in the selected designated regional location on your 494 visa.
2. You are able to present the proof of having a minimum annual salary of $53,900 for 3 years. If your 494 application includes your partner, only one person has to showcase the annual salary via tax returns for the last 3 years, which should be $53,900 or more than that. You can ask your partner to submit the 191 visa application as the primary applicant if he or she is able to demonstrate all the required eligibility criteria.
There is NO need to get an employer nomination in order to submit your 191 visa application. This is what makes this approach majorly favorable than the RSMS 187 visa.
What about the 187 applications that were on hold till and beyond November 16th, 2019?
All 187 nominations as well as visa submitted before November 16th, 2019 are subject to old arrangements and not the new arrangements of visa.