Business Visa 188 Closed & New National Innovation Visa for Investors

Business Visa Australia Closed 1

As stated in the budget papers, "The BIIP (Business Innovation and Investment Program) will be closed permanently from July 2024 and new applications for the Business Innovation and Investment (Provisional) (subclass 188) visa will no longer be able to be lodged." 

If you already lodged a Subclass 188 or Subclass 132 visa, the applications would continue to be processed in line with the planning levels.

2023 Migration Strategy confirmed that the government is lack of interest in current BIIP and it has reduced the BIIP allocation to 1,500 for financial year 2023-2024, a further 500 places will be reduced and bring down the total allocation to 1000 for 2024-2025.

Until 30 June 2022, the number of subclass 188 application on hand was 20,459.188_Business_Visa.jpeg

         https://www.homeaffairs.gov.au/access-and-accountability/freedom-of-information/disclosure-logs/2023

If, in the last 2 years, the Department was managed to clear the backlog and reduced the on hand applications to $15,000, it will take 10 to 15 years to finalise all the applications -- based on the allocations we get for this year and next year (1,500 and 1,000).

The Department will also “tighten” its policy to determine how the legislative is interpreted and applied, leading to a higher number of applications refused.

Therefore, the government has also announced an option for applicants to cease processing of a BIIP application with a refund of the visa application charges. This will be available from September 2024.

In the future, successful and talented business owner and investor may also have a chance to get a visa from Australia through the National Innovation Visa Program. We will have more updates coming by the end of 2024.

Subclass 188 visa holders will still be able to apply for the permanent visa subclass 888 visa after July 2024, subject to meeting all eligibility criteria. If eligible, they may apply under the provisional extension stream if they need additional time to meet the permanent BIIP visa requirements.

How can Work Visa Lawyers help?

Work Visa Lawyers can help you with your Business Visa. 

Our team of experienced Immigration Lawyers and Migration Agents look forward to assisting you with your Australian visa or appeal.

Contact us on (+61) 08 8351 9956 or This email address is being protected from spambots. You need JavaScript enabled to view it.

Book an appointment with one of our experienced Immigration Lawyers and Registered Migration Agents here.

Sources: 

Department of Home Affairs website - Migration Program planning levels: https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels

Budget 2024-25 website:  https://budget.gov.au/content/documents.htm

Migration Strategy: https://immi.homeaffairs.gov.au/programs-subsite/migration-strategy/Documents/migration-strategy.pdf

 

Continue reading
1017 Hits
0 Comments

Fact checking the ‘axing’ of the ‘Golden Visa’ - Business Innovation and Investment Program (BIIP) visa

On 22 January 2023, an Australian newspaper, The Australian, published an article entitled, Quiet chop for ‘golden visa’ scheme”.

The Australian article by Stephen Rice contains inaccuracies. This is article aims to set out the facts and correct the misinformation contained in The Australian article.

 

Has the Labor Government axed the Business Innovation and Investment Program (BIIP) visa?

 No, the Australian Government has not axed the BIIP visas.

 

Migration Review and Migration Strategy

A review of the Australian migration system was conducted in 2022-2023, and the Migration Report (the ‘Report’) was released on 21 March 2023.

One of the possible reform directions arrived at by the reviewers is “Better target permanent skilled visas to maximise economic outcomes and remain internationally competitive”.  One of the measures identified to support the possible reform directions is to:

Revisit the allocation of places across the permanent skilled program. In particular, reconsider the size and role of the Business Innovation and Investment Program (BIIP), noting more positive outcomes from the Significant Investor Visa. Consider how to manage the allocation of places to state and territory nominated and regional visas, including possible consolidation of these programs.  [1]

During her address to the National Press Club on 27 April 2023, the Minister for Home Affairs, The Hon Clare O’Neil MP, was asked whether the business investment visa subclass 188 A, B, C be removed in the future.  The Hon Minister replied that, “We haven’t said that we will abolish those programs. What we have said is that they need a radical restructure as part of the work that we’re doing and I think this needs to be folded into the broader conversation about highly skilled people who we see as creating the future jobs for Australians and now how we manage them in. It’s not just about what’s called BIV and SIV. This is just the world of acronyms that I live in! It is not just about BIV and SIV. It is about the whole question of that, really quite – drivers of economic growth and how we should think about bringing those people into our country.” [2]

Australia’s Migration Strategy was released to the public in December 2023. This Migration Strategy is based on the findings of the Migration Review. The Strategy notes that:

The Migration Review flagged the opportunity to draw on the relative strength of the Significant Investor stream to design a visa product more sharply targeted to select migrants who can drive innovative investments in sectors of national importance or play a valuable role in the venture capital industry.

The Migration Strategy further mentions as an area for future reform:

A new Talent and Innovation visa could create a single, streamlined pathway to attract relatively small numbers of highly talented migrants to Australia, such as high performing entrepreneurs, major investors and global researchers.

As a result of the review, or the current financial year (2023-2024), the Australian government has reduced the allocations for the BIIP program (see Figure 1) and has not allocated these places to any Australian state or territory in order to process the applications on hand.

There has been no ‘axing’ just a pause while the review of the program is being conducted. All indicators point to the fact that the Government will be continue offering visa to highly talented migrants to Australia, such as high performing entrepreneurs, major investors.

Business Innovation and Investmet 

Does the business visa program make up a quarter of Australia’s migration allocations?

The first sentence of the article states that “[a] business visa program which makes up a quarter of all the nation’s migration allocations has been quietly axed by Labor ….”   The truth is that in 2022-2023, the Business Innovation and Investment Program (BIIP) was allocated 5,000 places out of 195,000, or 2.56% and for this financial year, 1,900 places out of 190,000 places or 1%. Hardly “a quarter”. 

Continue reading
1012 Hits
0 Comments

Australian Business and Significant Investor Visas Subclass 188 Closed - New Visa Expected in 2024

The migration allocations for the year ending 30th of June 2024 have zero allocations for Business and Investor Visas. That signifies that there are no Business or Investor Visas available for this year, as illustrated in the chart below.

zero business

This means it will not be possible to get a state nomination for any of the four streams of the Business and Investor Visa Program. 

The four streams of the Business Innovation and Investor Programme (BIIP) are:

  • Business Innovation stream
  • Investor stream
  • Significant Investor stream
  • Entrepreneur stream

 Why did they close the Business 188 visa?

The Parkinsons’ Migration Review Final Report had several negative comments about the Business Innovation and Investor Programme. These negative comments included that the overall age of business Visa applicants is higher than other visas and that this could cause high medical expenses. Further, there were comments that 188 Visa holders had low incomes while in Australia.

In relation to the income point, we argue that this was based on accurate information that underestimated the range of income generated by Business Visa holders, including through their business and personal. 

The migration review also recommends revisiting the allocation of places across the permanent skilled program. In particular, it suggests reconsidering the size and role of the Business Innovation and Investment Program (BIIP), noting more positive outcomes from the Significant Investor Visa.

Other visa options

If you do not want to wait until new Business and Investor Visas are announced, you may consider the Global Talent Visa. 

To learn more about the Global Talent Visa and to explore your immigration options, please visit: https://www.workvisalawyers.com.au/services/global-talent-distinguished-talent-visas/global-talent-independent-visa.html

New Investor Visa opportunities coming from July 1, 2024

The Migration Review Final Report did mention some positive contributions by their Significant Investor Visa and suggests consideration be given to whether the BIIP is retained as a substantial program.

We expect a redeveloped version of the Significant Investor Visa to be introduced from 1 July 2024. 

Business Visa Australia

On page 66 of the report, there are suggestions that consideration should be given to whether the BIIP is retained as a substantial program: “We note that outcomes for the small Significant Investor stream have been stronger than for the remainder of the BIIP. If there is a desire to retain some element of the BIIP, consideration could be given to drawing on the relative strength of this stream in designing a niche investment visa product, much more sharply targeted to select migrants able to drive innovative investments or play a valuable role in the venture capital industry.”

It is expected that the new investor Visa will be similar to the current significant investor Visa and may require: 

  • $5000,000 investment into a complying investment
  • Complying investments are yet to be determined by the federal government and may include a stipulated percentage of investment into venture capital.

 

While the 188 Business Innovation and Investment visa is a temporary visa, visa 188 holders can apply for permanent residency through the subclass 888 Business Innovation and Investment visa. Click here to discover more about the 888 Visa.

If you intend to invest in Australia, we can help you find the best Australian business visa options. Our team of experienced Immigration Lawyers and Migration Agents looks forward to assisting you. If you are interested in a Significant Investor Visa for Australia, please contact us.

 

Sources:

https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels

https://www.homeaffairs.gov.au/reports-and-publications/reviews-and-inquiries/departmental-reviews/migration-system-for-australias-future

https://www.homeaffairs.gov.au/reports-and-pubs/files/review-migration-system-final-report.pdf

 How can Work Visa Lawyers help?

If you need help with this visa, Work Visa Lawyers can assist you.

Work Visa Lawyers is highly experienced in all parts of an employer-sponsored visa application process. We can assist with all aspects of the application and will provide an eligibility assessment before advising you to proceed with a visa application.

Based in Adelaide South Australia, we provide Australian Immigration advice to people and businesses from all over the world. You can book an appointment online or call us at (+61) 8 8351 9956.

Continue reading
2055 Hits
0 Comments

Federal Government’s Stealth ‘closure’ of Australian Business, Investor and Entrepreneur 188 Visas

Federal Government’s Stealth ‘closure’ of Australian Business, Investor and Entrepreneur 188 Visas

The Australian Government announced that it will close the Business Innovation and Investment Program (BIIP) from July 2024 and replace it with the new National Innovation Visa. Follow this link for more details about the National Innovation Visa.

In August 2022 the States and Territories were only given a total of 810 allocations for 188 visas.  All states and territories aside from Move to South Ausralia have now run out of business visa allocations.

On 8 December 2022, the Migration Program Planning Levels for 2022-2023 were released.

Unfortunately, the Federal Government did not allocate any more places to any of the states/territories for Business Investment Visa 188.

So with no state nominations available, the Federal Government has effectively closed the 188 visa for this migration year, up until the 30 June 2023.

This is a type of stealth closure, without an announcement by the Federal Government, but with the same effect.

The 188 visa is called the Business Innovation and Investment Program (BIIP).

There are four streams of the 188 visa:

Each stream requires that the applicant to obtain state nomination before lodging a visa.

With no further allocations available to the states from the Federal Government, the 188 has been effectivly closed up until 1 July 2023.

Continue reading
5002 Hits
0 Comments

Important information for 188A Business Innovation visa holders intending to change business plans

Today’s ever changing economic climate can result in necessary changes to business plans.

What happens if you were approved for state nomination based on a particular business plan, and then this plan changes after your 188A visa is granted?

Overview of 188a Business Innovation Visa Australia

Continue reading
2082 Hits
0 Comments

The Australian Permanent Residency Visa Pathways for US Citizens

The Australian Permanent Residency Visa Pathways for US Citizens

Many Americans fight hard for their Permanent Residency in The State and a green card. As a result, they are pondering their options.

While Canada is a geographically closer option, Australia offers a practical and attractive option for US citizens looking to move abroad temporarily or permanently.

Australia has a lot of types of visas to offer for Americans who are interested in getting an Australia permanent residency or citizenship.

In this article, we explain all possible Australian visa options available to US citizens.

1) The Subclass 462 Work and Holiday Visa

The Work and Holiday visa 462 suits young Americans aged 18 to 30. There is an ongoing review to increase the age limit to 35 years of age, but that is not in effect as yet. Other requirements for the visa are:

- You must have a Senior Secondary Certificate of Education or equivalent.

- Have approximately AUD 5000 available as travel funds

- Hold travel health insurance

- Be healthy and have no criminal records

The visa is valid for 1 year and an extension for additional 2 years is possible if you have met specific work requirements, usually in specified high-needs industries in the regional areas of Australia.

While this visa is temporary for a minimum of 1 year and a maximum of 3 years, you may be eligible to apply for other visas for further stay in Australia after that.

If you have skills or qualifications in America, you may be eligible for more visas mentioned below. Otherwise, you can start with a student visa to start your way to Australian Permanent Residency.

Overall, This working holiday 462 visa is a fabulous opportunity for young Americans to visit and work in Australia to see if they like what Australia offers.

2) Skilled Migration visas: Visa 189 Skilled Independent, Skilled Nominated Visa 190, Skilled Regional Visa 491

Post-Pandemic Covid-19, Australia needs skilled professional and technical workers. US citizens are in the right mold because of the following factors:

- Excellent English abilities

- Accredited and easily verifiable education qualifications and work references

- Easier transition to an English and Western work environment and process

The upper age limit for these skilled visas is 45 years and below. You are likely someone who has completed a tertiary qualification and has worked a few years or more.

These skilled visas are a pathway to Australian permanent residency, allowing you and your family to live in Australia for as long as you want.

Especially the skilled independent visa 189, the Australian Department of Home Affairs is doing its best effort to attract skilled people worldwide post-pandemic hit. 

Recently, they have invited more than 10,000 skilled migrants to apply for this visa 189 - direct Permanent Residency of Australia.

Skilled nominated visa 190 is also an Australian PR with a direct grant, however, it could be more selective to some popular states like Victoria or NSW as this visa is state based visa with different requirements for each state. 

The last but not least option is the 5-year skilled regional visa 491.

Australia is facing a severe skills shortage, particularly in regional areas which are South Australia, Tasmania, Western Australia, Northern Territory, or even Regional Areas of metro states like Queensland, Victoria or NSW.

With this 491 Visa, you may live and work in the regional area of Australia and has a pathway to Visa 191 Permanent Residency once certain requirements (The primary one is the income threshold of 53,900 per annum) are met.

As a permanent resident of Australia, you will be eligible for social benefits including cheaper education, universal healthcare (Medicare), welfare (criteria apply) and more.

Watch this video below to understand more about Regional and Metropolitans and what incentives you might get for living and working or studying in Regional areas of Australia.

Contact Work Visa Lawyers today to find out if you are eligible for the skilled visas mentioned.

Book an Appointment

3) Employer Sponsored Visas – TSS 482 visa, PR 186 visa and RSMS subclass 187 visa

Do you work for a large multinational corporation in the United States? Does the company have an overseas office in Australia? If they do, you may look for an overseas transfer by being sponsored by the Australian office of your current employer

While this would involve the endorsement and approval from your employer, this also means that you arrive in Australia with a job in hand.

Not just being employed by a multinational corp, if you are being offered a job in Australia, you may be eligible to ask for sponsorship. Most genuine businesses in Australia can nominate foreign skilled workers.

This is reflected in the new Ministerial Direction 100 about Skilled Visa Priority Processing.

It states that Skilled Visa program and Employer sponsorship program will be prioritized and offshore skilled migrants will be favoured.

Amongst all employer-sponsored visa, TSS 482 Visa is the most popular one with pathway to Permanent Residency of Australia for certain occupations which are listed in medium and Long Term Strategic Skilled List (MLTSSL).

Watch this video to learn more how a 482 Visa can help you get PR in Australia

The team at Work Visa Lawyers can provide dedicated visa services to the individual and professional corporate services to the sponsoring company. We ensure the best interests of both the employee and employer are catered to when applying for employer-sponsored visas.

Call Now

4) Global Talent Visa Program

This is a fast-tracked Permanent residency visa, Global Talent Visa Australia is the most popular one during pandemic for Offshore Skilled Migrants. Work Visa Lawyers has done a lot of cases for American highly skilled persons who got Permanent Residency and moved to Australia during Covid-19.

The Global Talent visa application process is simpler, faster and more affordable than many other Australian visas, so naturally, this makes it very popular. No age limit or points is testing and it grants immediate Permanent Residency

In General, visa applicants are required to meet the following 4 core requirements to be able to apply for a Global Talent visa: 

  1. Skills in a relevant field - There are 10 targeted sectors in Global Talent Visa to fit your skills in 
  2. Internationally recognized for outstanding achievement in your field - You may use your career history or publications. GTI 858 Visa (Global talent Visa) is quite popular for PhD graduates.
  3. Salary Income Threshold -  Your annual salary income with currency exchange must meet the high income threshold of AUD$162,000 or you need to prove that you have secured a job offer with higher income than the threshold.
  4. Nomination -  You need to have a prominent nominator in your field of expertise.

Global Talent Visa Australia

5) Business innovation and investment visas – for current business owners and managers, investors and entrepreneurs

Australia welcomes successful business owners, investors, and entrepreneurs on the rise. Visas available under this category include:

- Business Innovation and Investment (Provisional) visa (subclass 188) which has 4 small streams:

- Business Innovation Visa 188A stream

- Investor stream Visa 188B

- Significant Investor Visa 188C stream

- Entrepreneur stream 188E

The Business Innovation Visa 188a stream is unsurprisingly the most popular amongst all business visa Australia because of its lower capital requirements than the investor stream and the Significant Investor Stream. But it requires a points test, English, Business establishment experience, and more.

The Significant Investor Visa 188C stream requires none of those mentioned above; however, the investment amount is set at 5 Million Australian Dollars into Australian Complying Fund.

Business visas to Australia can be complex, and you will need a detailed assessment before applying. The experienced Registered Migration Agents at Work Visa Lawyers can assist you with the initial eligibility assessment and handle the complex visa application on your behalf in an efficient manner. Contact us today to learn more.

While the above lists the most common Australian visas for US citizens looking to move abroad, there may be other visa options including student visas, distinguished talent visas and so on. Each individual and family have their circumstances, therefore you should speak to a Registered Migration Agent to discover your options before deciding what is best for you and your family in the short and long term.

Comments by Chris Johnston – Principal Immigration Lawyer at Work Visa Lawyers

Australia is an ideal destination for US citizens looking to explore and discover a different country. The people, culture and environment are not vastly different from the United States so there will be less of a culture shock to Americans looking to move. Australian cities also consistently rank high in the top ten among the world’s most liveable cities or cities with the highest quality of life.

Work Visa Lawyers has received inquiries from new and past clients about Australian visa options to move to or remain in Australia. Get in touch with us today to speak about how Work Visa Lawyers can assist with your intentions to make Australia your temporary or permanent home.

Do you need help with an Australian visa application?

At Work Visa Lawyers we are experienced in assisting applicants in all matters relating to Australian visa applications. Our areas of expertise include Skilled Migration visas, Business Skills Migration visas, Employer Sponsored Work Visas, Partner and other Family Migration visas as well as the Administrative Appeals Tribunal (AAT) Review, Judicial Review and Ministerial Intervention.

If you require further information regarding your Australia visa options you can contact us through:

(08) 8351 9956 or +61 8 8351 9956

or   This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

Continue reading
23348 Hits

Business and Investor Visa News November 2022 - 188A and 188C SIV Changes - Ministerial Direction 100

Federal Budget 2022 - Business Investor Visa Allocations

New Federal Budgets have revealed the Migration Program planning levels.

The quota for Business Innovation and Investment Visa program has been reduced to 5000, comparing to 13,500 last year.

This will mean that it is more competitive and challenging to secure a place in the program.  

We are talking about the four streams of the 188 visa.

States have announced that they are running out of allocations as they are working from a interim allocation of about 800 places. 800 places for all states and territories are too short to fill up the demand of the Business and Investor visa program in Australia.

Watch our full video about Business Visa news in November 2022 here:


In that, QLD and NSW have already used up their interim allocation and closed the program temporarily. VIC and SA are very careful in selecting the applicants. SA decided  to temporarily close the Investor Stream 188B and Significant Investor Stream 188C streams.

Hopefully, the states can receive further allocations for the Business Visa Australia shortly after the Federal Budgets announcement and open to all the streams.

Now, let's look at some of the most popular stream in Business Visa 188 Australia and why should you go for it.

The 188A Business Innovation stream remains popular among applicants all over the world. This is because it has lower capital rewquiremetns than the investor path, and builds on the applicants existing business skills.

The 188C Significant Investor stream is the most simple one except for the amount if investment fund with NOT much criteria including:

  • No Age limit (good for parents who are not able to do parent visa 143);
  • No English Requirement (You only need to pay for the secondary fee for non-english applicant);
  • No  Qualification or Business Skills and experience required;
  • No Points Test (Business Innovation stream 188A and Investor Stream 188B requires Points Testing)

In order to find your best Business and Investor Visa Australia, please use our Business Visa Compare tool:

Business Visa Compare Australia Find your best Business and Investor Visa Australia 188

Business and Investor Visa news recap

There is still a shadow over the 188C visa which requires a 5 million dollar investment.

In Sep 2022, the Home Affairs Minister Clare O’Neil commented with Sky News that the SIV program “isn’t adding value to the country”

In the talk, Minister Clare O’Neil mentioned:

"I think most Australians would be pretty offended by the idea that we've got a visa category here where effectively you can buy your way into the country,"

"I don't see a lot of great benefits to the country currently." When she was asked by Andrew from Sky News if the Golden Visa Australia (Significant Investor Visa 188C) might be abolished.

The minister has criticized the Significant investor visa to be bringing in older people who can cost the budget.

There are also comments from Grattan Institute which raised concerns if the SIV will be removed shortly.

=> Applicants wish to put in a SIV application need to take actions as soon as possible.

Business Investor Visa Australia Visa 188

Or, you may consider to apply for a 188B - Investor Stream instead.

Similar to 188C, 188B Visa requires applicants to invest 2.5 million Australian Dollar to the complying investment fund of Australia. It also has a pathway to Australian Permanent Residency.

The 188B Visa has grown in popularity recently and the comments on the SIV may make more people consider the visa 188 Investor stream.

The final category is the 188E Entrepreneur Stream.

While it has no capital investment requirement, the level of interest is surprising low.  This may be because the of the requirements being harder to quantify or predict.

The 188E visa requires applicant to show innovated business ideas.

State such as SA and Victoria require endorsement from service providers or investor incubator bodies.

There is a pathway to permanent residency after you hold the visa for 2 years and have a successful record of entrepreneurial activities. 

Ministerial Direction 100 - Business Visa Processing

Following the Federal Budget, there is a new Ministerial Direction 100 for skilled visa processing priority instruction published recently.

The new labor government has pointed out that their primary focus at this stage is to:

- Clear the visa backlogs caused by the delay in processing time during Pandemic Covid-19.

- Address skills shortages 

The government will still process efficiently those skilled visas in the near future to make the visa backlogs to a manageable level before Christmas.

The following skilled visas are subject to Ministerial Direction No. 100:​

In the last point of the Direction 100 Factsheet, it says that the Government will reduce priority to some programs to shift attention to skilled visas such as State Nomination, Employer Sponsorship program.

The report states that this reduction will help increase efficiencies in reducing processing times across caseloads. This is reflected by the total allocation number of those programs this financial year 2023.

However, Visa applications for the Global Talent and Business & Investment program will still be processed efficiently in line with the planning levels of the Migration Program.

Read full details of the Ministerial Direction 100 - Skilled Visa Priority Processing >>

Summary of current Business Investment Visa Australia situation

In summary, the allocations are now lower, at 5000.  But with only 800 state allocations so far, there is still over 4000 potential places to be sending out in the next 7 months.

The demand on the Business Investment visa 188 is still high so the new allocations could be filled quickly. Imagine the 800 allocations have been filled within 2 months since announcement, the rest is expected to be running out soon in 3-4 months.

This leads to a more selective process from the government. That means your documents and profile must be clear and well-managed to be successfully get the visa 188.

An application for business or investment visa Australia must be handled with care as it involves demonstration of significant assets (AUD 2.5 - 5 million) and the preparation to liquidate the amount for transfer into the complying investments before the visa is granted. 

The team at Work Visa Lawyers has extensive experience in compiling financial and business documents from different countries and submitting the information in an organised manner for the DHA to process the documents smoothly.

 

Australian Business and Significant Investor Visas Subclass 188 Closed - New Visa Expected in 2024! Read more here! 

 

Work Visa Lawyers works with accredited fund managers to provide options to our clients for the complying investments.

Our team of experience Immigration Lawyers and Migration Agents look forward to assisting you with your Australian visa.

We are available in English, Mandarin, Cantonese, Vietnamese, Punjabi, and Tagalog.

So that is the news about the Business Visa space.

Please stay tuned for further update. 

Continue reading
2265 Hits
0 Comments

Ministerial Direction 100 - Skilled Visa Processing Priorities - Australia's Future Focus For Skill and Migration Program

Ministerial Direction 100 - Skilled Visa Processing Priorities - Australia's Future Focus For Skill and Migration Program

Australia's skilled visa programs are designed to select people who will make a positive contribution to the Australian economy and labor market and assist Australian businesses to access workers with skills that cannot be met in the local labor market.

Since the new government has been in place, the Department of Home Affairs has finalized over 2,780,000 Visas. 

This includes over 43,000 temporary skilled applications and over 47,000 permanent skilled visa applications.

This has been shown clearly in the processing of the Visa 189 invitations.

The new labor government has pointed out that their primary focus at this stage is to:

- Clear the visa backlogs caused by the delay in processing time during Pandemic Covid-19.

- Address skills shortages 

Minister Andrew Giles states that the visa backlog will come to a "manageable" level before Christmas.

Currently, the government has produced new direction 100 to address the issue of businesses crying out for skilled workers.

Continue reading
2588 Hits
0 Comments

Future Of All Australian 188 Visa - Significant Investor Visa Abolished?

Business & Investment Visa Australia 2022

Read our latest news in September 2022 for Australian Immigration here >>

Today we are going to talk about the recent news about business innovation and investment visa 188 in Australia.

There is not so much good news regarding the Business and Investment Visa in Australia recently from the minister's talk and the Business Visa Allocation announced in late August 2022.

There are comments that Investor Visa streams do not bring benefits to Australia or are being criticized by the Minister of Home Affairs, Ms Clare O'Neil and the Grattan Institute.

State criteria has become more difficult for the Business Innovation stream 188a visa with higher points score. This is due to the low allocation provided by the Department of Home Affair which makes it harder to nominate applicants for states and territories.

Though there is negative news, the business and investor visa program is still very beneficial to Australia on my perspective. There are a lot of values it brings that are mentioned in the video.

There are currently 4 streams opening:

Business Visa Allocations in 2022-23

In the last 2 months, there is so much positive news regarding the skilled migration program.

However, there are a few negative updates about the business visa program to be considered.

This year has seen very low allocations for business innovation and investment visas in all states.

There were around 7,000 allocations available in 2021.

This year only has 810 total allocations in this interim stage. This is an approximately 85% decrease.

Business Visa Allocation 2022 2023

There may be more allocations, but they might not be high based on current news and outcomes from the skills summit.

The highest number is 260 and 235 for NSW and QLD.

South Australia has also seen a significant drop in their places for BIIP at only 70 this program year.

State Criteria Business Innovation & Investment Visa – SA, QLD and NSW

As a result, States have published their business visa requirements with slightly higher criteria.

NSW and SA have published their business visa requirements with slightly higher criteria.

Business and Investor Visa NSW

Instead of 65 points for 188a and 188b visas, the requirement has now been raised to 85 in NSW.

There is no change for the Significant investor stream 188C in NSW.

Business Investor Visa South Australia

Move to SA has announced 70 allocations for Business Innovation and Investment Program

Regarding the criteria, 188B Investor Visa Australia and 188C Significant Investor Visa do not change much.

It becomes more difficult to get a 188A, the applicants need to apply for ITR and be invited to apply for nomination.

Other than that, applicants must:

- Score at least 80 points in the points test (including state nomination points). 

- Provide a business plan detailing the economic impact of your proposal to South Australia

A business plan will be given more weight in terms of nomination ranking factors.

It is also more difficult to get 888A Business Innovation Stream (PR Australia):

  • Higher investment requirement, 300k instead of 200k, AND
  • 2 full-time employees
  • Director's loan is not considered as business asset by Move to SA.

It wants the 188A visa holders to spend the money in SA to show Benefits to the State!

Business and Investor Visa QLD

Business Visa Lawyers Australia Business Visa QLD

Migration Queensland advises that the interim nomination allocation (quota) for the business program (BIIP) has now been filled.

However, the business program remains open and MQ will continue to process applications – although we are unable to nominate on Skillselect.

MQ is currently awaiting further advice from Home Affairs as to when this final allocation will be provided.

For applications that are already submitted to MQ, and would like to withdraw to apply to another state or territory, please contact us here.

 

SIV news from the Minister’s talk

In the latest talk, Minister Clare O’Neil mentioned:

"I think most Australians would be pretty offended by the idea that we've got a visa category here where effectively you can buy your way into the country,"

"I don't see a lot of great benefits to the country currently." When she was asked by Andrew if the Golden Visa Australia might be abolished.

The minister has criticized the Significant investor visa to be bringing in older people who can cost the budget.

Investor Visa Australia - Comments from Grattan Institute

These comments reflect what has been published by the Grattan Institute, a private research body in which recommends public policy.

The Grattan Institute has put forward the view that business migrants pay less tax over the lifetime than skilled visa migrant workers.

The institution seems to be criticizing all 4 streams of the business and innovation program.

What is the future for Business and Investor Visas Australia?

There is a strong possibility that the Federal Government will totally cut the Significant Investor Visa stream of the 188 sometime in the future.

There is also an unanswered question that will also cut the investor visa.

This is also referred to as the 188B Visa Australia.

It requires a 2.5 million investment into the complying fund.

But the investor is difficult because it does have a prerequisite of investment experience and an age limit of 55.

We still need more time to see what is going to happen with the Significant investor stream and the investor stream.

In the meantime, it is still available and no ministerial guidelines about the abolishment of the program.

Chris's comment on current Business and Investor Visa news

I personally don’t agree with the analysis of the Minister nor the Grattan institute

The measure of individual tax payment does not reflect the true benefits of business and investment visas.

These include:

  • Create capital for small businesses or venture capital funds
  • Create more jobs for Australians
  • Export Australian products especially 188a visa stream
  • Create ties to increase international relations.
  • Can promote regional property development, especially for 188A stream

What to do now?

With limited allocations, it is no doubt the business visa program will become more difficult

The quotas can be filled very quickly before this financial year ends.

There is also the possibility that some of the 188 visa streams will be cut.

So if you are interested in a business and investment visa in Australia, you should consider applying soon.

If you want a business visa in Australia, please book an appointment or use our Business Visa Compare tool.

With Business visa compare, you only need 5 minutes to answer some simple questions and get your best business visa options.

Australia is always the top desitnation for family to enjoy the quality of living standard, education and outdoor activities. Work Visa Lawyers has professional Immigration Lawyers and Agents to deal with your Visa matters. We also have trusted financial advisory partners who are eligible to manage your investment portfolio in Australia.

For a quick assessment of your best Australian Business Visa options, please visit our FREE assessment tool: Business Visa Compare

Business Visa Compare Australia Visa 188 Australian PR

 

More about the Business Visa Australia Agents and Lawyers

Understanding the difficulties in choosing the best Australian Business Visa options, Business Visa 188 Agents and Lawyers team have worked together to create this tool to help experienced business owners or investors find their best Business and Investor Visa options in Australia.

Work Visa Lawyers has strong immigration knowledge and committed to keep updating our website and Business Innovation and Investment news in Australia.

Work Visa Lawyers ® is a migration firm founded by Lawyer Chris Johnston in 2011. Our team is focused on providing quality immigration services to our clients, wherever they are in the world. We speak English, Mandarin, Cantonese, Punjabi, Hindi, Tagalog (Filipino), Portuguese and Vietnamese.

We can help you with the Business Innovation and Investment (Provisional) visa (subclass 188) for the following four streams and Global Talent Visa:

We are experts in Business and Investor Visas 188 and Global Talent Visa 858 in Australia. We help overseas business owners, investors to create a new life in Australia with their family much faster through those visa streams.

Business Visa Lawyers Australia Work Visa Lawyers

Learn more about our Business & Global Talent Visa Team >>

Sources: 

Skynews Interview with Minister Clare O'Neil about the Significant Investor Visa and Business Visa Australia

Grattan Institute Comments on the Business and Investor Visa Australia 

Continue reading
4074 Hits
0 Comments

All Latest Australian Immigration Updates June 2022

All Latest Australian Immigration Updates June 2022

Latest Australian Immigration Updates after 1st July 2022 with 482 Visa, 485 Visa concession, Global Talent Visa, Working Holiday 462 Visa and 491 Visa>>

Work Visa Lawyers is proud to be a multi-lingual company with Lawyers and Agents who can speak Mandarin, Vietnamese, Punjabi, Portuguese, and Tagalog.

Overview of Australian Immigration in 2022 - Post-Pandemic Covid-19

2021 has been a tough year with many ups and downs due to the impact of Covid-19.

2022 begins with many new positive policies that welcome international students and skilled migrants.

Recently, the most significant event is the election result held on 21 May 2022. This article will share the latest updates on Australian Immigration during May and June 2022. Moreover, we will demonstrate what we see in the new labour government to the Migration Policy of Australia in the next few years.

Continue reading
10097 Hits
0 Comments
Featured

Top 5 Australian Permanent Residency Pathways In 2022

Top 5 Australian Permanent Residency Pathways In 2022

Read our latest Australian immigration updates April 2022 here>

Australia has a strong education system and is considered one of the best in the world, which makes it very attractive to students across the world.

Most of the students once they complete their studies want to get settled in Australia because of the livability factor.

They may get a decent lifestyle including physical and mental wellbeing, which makes them want to get settled here.

Obtaining Australian Permanent Residency Visa is getting more and more competent, and the visa system is vast and complex.

Many times, people do get confused about how to get it

Here we are discussing a few common pathways to Australian PR for you

Continue reading
21638 Hits
0 Comments

Sign up to our Migration Newsletter

Work Visa Lawyers works on Kaurna Land
We acknowledge and pay respect to the past, present and future Traditional Custodians and
Elders of this land and this nation, and the continuation of cultural, spiritual and educational
practices of Aboriginal and Torres Strait Islander peoples.

This site's contents are for general information purposes only
We recommend you seek advice from a Registered Migration Agent and Lawyer
(such as Work Visa Lawyers) in relation to your factual situation and relevant migration laws

Liability limited by a scheme approved under Professional Standards Legislation

Site by Adelaide Websites