Planning to get a Australian visa for investors? Prepare to invest 1 million more starting July 1, 2021. At least such changes were announced by Australian authorities this May. The total investment amount for the Investor Visa will rise from AUD 1.5 to AUD 2.5 million. Australian Business Innovation & Investment Program (BIIP) is most popular among people from China, Vietnam, India, Iran, Malaysia. Now these investors will need to allocate at least half of the capital to startups or emerging companies.
The Morrison Government is reforming the Business Innovation and Investment Program (BIIP) to boost Australian jobs, encourage the growth of key sectors and support Australia’s economic bounce back from the devastating impact of the COVID-19 pandemic. Minister for Immigration, Citizenship, Migrant Services and Multicultural Affairs Alex Hawke said that the changes would improve the quality of investments and increase the economic benefits for Australia.
What should you know about Australian visa for investors?
Key changes that will come into effect in July include that the Business and Investor visa program will be simplified into four visa streams: Business Innovation, Entrepreneur, Investor, and Significant Investor. However, investors should note that now there is no direct permanent residency Australian visa available for the business and investment route because the Significant Business History and Venture Capital Entrepreneur visas (Subclass 132) will be closed to new applications beginning on July 1, 2021.
Meanwhile, take a look at Caribbean Citizenship by Investment Programs. As passports of Dominica, Saint Kitts and Nevis, Grenada, St. Lucia will give you not only easy excess to Europe but to all the countries of Commonwealth. Like Australia.