2021 Changes to the Business Migration
Business Innovation and Investment Program (BIIP) Changes July 2021
- Reduction from 9 to 4 pathways
- More allocated places from 6862 in 2020 to 13,500 for 2021
- Increase in turnover and assets to AUD$1.25 million and AUD$750,000
- 188c Premium Investor stream and 132 streams are closing
- 188 visa holders applying for 888 permanent residence after 3 years and extension of provisional from 4 to 5 years
- 188b designated investment may change from Treasury bonds to Designated Funds
188 Application
One Applicant, Visa for Whole Family
- Spouse
- Children under 23 years old
Step 1: State Nomination (State Level)
- Business Plan & Benefits to the State
- Your reason for choosing the State – Residency Requirement
- Interview with State Officer
Step 2: Visa Application (Commonwealth Level)
- Management Skills & Successful Business Career
- Turnover and Net Assets Requirements
- Source of Funds
