A simplified Australian Business Innovation and Investment Programme will halve the number of streams and provide clearer routes to permanent Australian residency for all applicants.
From 1 July 2021, the Australian Business Innovation and Investment Programme will consist of just four streams: Business Innovation, Entrepreneur, Investor and Significant Investor. This is down from the nine streams that have been available since the Premium Investor stream was launched in 2015.
Australia already holds a place as one of the top 10 citizenship-by-investment countries in the world. The refinement of the remaining streams aims to encourage further investment and make it easier for investors to remain in the country.
Victoria – Investor and Significant Investor streams open
Skilled and Business Migration Victoria have provided an information update on the SC 188B and 188C streams. The visa nomination programs are now open.
Those who received a Victorian government nomination for an Investor or Significant Investor visa prior to 1 July 2021 are not affected by these changes even if their visa is still in process.
There have been major changes to the program in line with the Department’s changes to the investment requirements for these subclasses.
Investor (188B)
- Complying investments of A$2.5million (held for the duration of the provisional visa)
- Minimum SkillSelect points score of 80
- No requirement to make any additional investments
- No requirement to invest in Designated Investment Bonds
- All complying Venture Capital and Private Growth Equity funds (VCPE) investments must be made into Victorian based funds.
Significant Investor (188C)
- Updated Complying Investment Framework for complying investments of A$5 million (held for the duration of the provisional visa)
- All complying Venture Capital and Private Growth Equity funds (VCPE) investments must be made into Victorian based funds.
The Business Innovation and Investment (Provisional) visa (subclass 188C) – Significant Investor stream was introduced by the Australian Government in 2012. The SIV complying framework was amended to direct investment into more productive areas of the economy. Since then there have been further reviews but yet there have been no outcomes announced but we expect announcements in 2021 which may include high investment requirements.
This is an extremely popular visa
- No age limits
- NUMBER ONE INVESTOR VISA IN AUSTRALIA
- Young people can migrate even if the funding parent is not intending to migrate.
For more details about Business Investment Visas get in touch with your reliable Australian skilled migration services Melbourne and maximize your chances of that Visa soon.
