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.

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. 

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.

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.

Are you over the age of 45 and considering migrating to Australia?

The Australian visa system offers several options specifically tailored for individuals in your age group. In this article, we will explore seven visa pathways that could open doors to work, live, or reunite with loved ones in Australia. From employer-sponsored visas with relaxed age restrictions to family-related pathways and investment opportunities, there are diverse options to suit your circumstances. Join us as we delve into the details of each visa, highlighting key requirements, concessions, and benefits. Please note that while this information provides a helpful overview, it is crucial to consult with an immigration lawyer or registered migration agent to obtain accurate and up-to-date advice based on your specific situation. Let's embark on this exploration of Australian visa options for individuals over the age of 45 and uncover the possibilities that await you.

Please check now the 7 Visa option below:

1.  DAMA Visa.

The Designated Area Migration Agreement, or DAMA, is an employer-ponsored visa program that allows businesses in specific regional areas of Australia to sponsor skilled workers. Unlike other visa programs, the DAMA Visa has relaxed age restrictions, making it an attractive option for individuals over 45 but under 55. If you have can secure a relevant employer in designated regional area, this could be a viable pathway for you.

One of the notable concessions of the DAMA Visa is the relaxation of age restrictions. Unlike many other visa programs, the DAMA Visa can have an age concession for some occupations up until the age of 55.

In addition to age concessions, the DAMA Visa also offers salary concessions. The DAMA allows employers in designated areas to pay a salary that is below the Temporary Skilled Migration Income Threshold (TSMIT) which from 1 July 2023 will be $70,000. This means that employers can offer a slightly lower salary to sponsored individuals compared to other visa categories.

Another advantage of the DAMA Visa is the expanded list of skilled occupations available for sponsorship. The DAMA provides access to additional occupations that are not on the standard list of eligible skilled occupations for other visa programs.

These concessions and benefits make the DAMA Visa an attractive option for individuals over 45 who are looking to migrate to Australia and work in specific regional areas. If you have a job offer in a DAMA-designated area and meet the skill requirements, I highly recommend considering the DAMA Visa as a pathway for your migration.

This script provides an overview of the DAMA Visa and its concessions for individuals over 45. It is important to consult with an immigration lawyer or a registered migration agent to obtain accurate and up-to-date information based on your specific situation.

2. Global Talent Visa.

The Global Talent Visa is designed for individuals who possess exceptional talent or have outstanding achievements in specific target sectors. The target sectors are mostly tech focussed and are listed on screen.

The standard requirements  for the GTV apply up until  the age of 55.

After the age of 55, you must be of exceptional benefit to the Australian community. If you have the skills and experience that Australia needs, the Global Talent Visa might be the right choice for you.

3. 482 Visa.

The Temporary Skill Shortage Visa, commonly known as the 482 Visa, is an employer-sponsored visa that allows skilled workers to work in Australia for a temporary period. While there is no specific age restriction for this visa, it is important to note that sponsors need to demonstrate that they cannot find a suitable Australian worker for the position. If you have a sponsor and meet the skill requirements, the 482 Visa could be an option for you.

 But the 482 is only a temporary visa.  But in limited circumstances, it can lead to PR for those over 45.

4. 186 Visa

The Employer Nomination Scheme or 186 visa can lead to PR for people over 45 in a limited number of circumstances.

There is an exemption for those earning a salary over the Fair Work High Income Threshold for three years straight.

There is an exemption for some occupations including Lecturers and scientists working for the government.

There is an exception for medical practitioners working in regional areas for at least two of the last three years.

5.  Partner Visa.

The Partner Visa category allows individuals who are in a genuine and committed relationship with an Australian citizen or permanent resident to apply for a visa. Unlike other visa options, there is no age limit for the Partner Visa. If you are in a relationship with an Australian partner and can demonstrate the genuineness of your relationship, this pathway could be the right fit for you.

6.  Parent Visa.

The Parent Visa category is available for individuals who have children who are Australian citizens or permanent residents. While there is no age limit for this visa, it is important to note that there can be significant processing times and financial requirements associated with this pathway. If you have children who are Australian citizens or permanent residents, the Parent Visa might be worth considering.

7. Significant Investor Visa.

The Significant Investor Visa is a pathway for high-net-worth individuals who are willing to invest a substantial amount in Australia. To be eligible for this visa, you must have at least 5 million Australian dollars to invest in approved investments. Age is not a limiting factor for the Significant Investor Visa, making it an attractive option for individuals over 45 with significant financial resources.

Watch the video now:

Do you need help?

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

Based in Adelaide South Australia, we provide Australian Immigration advice to people and businesses from all over the world.

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.

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:

• Business Innovation stream-  188a Visa - for succesful busines owners. 
• Investor stream-2.5 million Investment Visa 188B Australia
• Significant Investor stream- 5 Million Investment Visa Australia - Visa 188C SIV 
• Entrepreneur stream- Visa 188E Australia. This visa stream lets you carry out entrepreneurial activities in Australia. You can stay for up to 5 years .

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.

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 Innovation stream- Visa 188a Australia
• Investor Stream visa 188B
• Significant Investor stream Visa 188C with no English, age or business experience requirement
• Entrepreneur stream

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.

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

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

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:

• 188A visa - Business Innovation stream
• 188B visa - Investor stream
• 188C visa - Significant Investor stream SIV
• 188E visa - Entrepreneur stream
• 858 Visa – 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.

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