Australia has always attracted immigrants with its high quality of life, perfect social welfare system (especially its Medicare, which is praised worldwide), sound immigration policies and good education resources. People can usually realize their goal to immigrate to Australia through three paths: Skilled Immigration, Investor Immigration and Entrepreneurial Immigration. Among them, Australia Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Stream is favored by many shareholders of small and medium-sized enterprises for its its easily-met requirements and low cost.
From 22 July 2019, Victoria’s Skilled & Business Migration Program (SBMP) has removed the invitation process for all Business Innovation and Investor Program (BIIP) streams, minimum eligibility criteria for some visa subcategories have also been updated, including the following 5 items:
1. A minimum Department of Home Affairs’ SkillSelect Points test of 80 will be required for all 188 Innovation stream applicants
2. 188 Innovation nomination applicants must agree to employ at least one (1) full time employee in their main business
3. Applicants proposing to engage in export activity must demonstrate that the business will export 100% Victorian manufactured products only
4. 188 Investor applicants must agree to make a minimum additional investment of at least A$500,000 in Victoria during the provisional visa period. The investment must be held for no less than 12 consecutive months immediately preceding the Business Innovation and Investment (Permanent) visa (subclass 888) Investor Stream nomination application
5. 188 Investor and Significant Investor applicants will be required to have A$200,000 available for migration purposes (consistent with 188 Innovation stream requirements)
The updated criteria listed above are only applicable to all Business Innovation and Investment (Provisional) visa (subclass 188) - Business Innovation stream applicants nominated after 22 July 2019, and existing visa holders and applicants who applied for nominations prior to this time will not be affected by these changes.
The important change that deserves special attention is that the updated content of the third criteria is no longer applicable since February 21, 2020: applicants who plan to engage in export business are no longer required to export 100% of products made in Victoria. However, applicants must demonstrate how its activities will directly benefit to the Victorian economy, which can be proven in many aspects, such as the value of exported goods and services, job's creation or retention (including lasting impact to other Victorian suppliers), the local economic benefits of the business and expansion of the export market.
The change on February 21, 2020 is advantageous news for applicants who want to apply for Victoria's subclass 188A, as they can choose a wider range of products if they intend to engage in export business.
Melbourne is one of the world's most habitable cities for international skilled, investor and business migrants, reflected by the fact that Victoria always has the largest number of 188 visa applicants. According to the data released by the Department of Home Affairs, as of December 2019, Victoria has issued a total of 995 Business Innovation and Investment (provisional) visa (subclass 188). Precisely because of its large number of applicants, which are increasing every year, its quota is always used up quickly.
Globevisa has more than 10 years of experience in handling Australian immigration programs, with a market share of more than 40% and a high success rate. In addition, Globevisa also has a local office in Melbourne, which can provide the most intimate reception services. If you are planning to immigrate to Australia, make sure you take advantage of this policy update. Contact us now, Globevisa devotes to help you successfully realize your immigration dream.
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