The National Innovation visa – A new immigration program

The new National Innovation visa to be launched in late 2024 

The Australian government confirmed in the May 2024 budget that a new National Innovation visa will be launched in late 2024.

The launch date and criteria hasn’t been confirmed.

The National Innovation Visa

National Innovation visa – coming in 2024

Visa to replace the BIIP & Global Talent visa programs

The National Innovation visa will replace the Business Innovation and Investor Provisional (Subclass 188) visa program. As well as the Global Talent (Subclass 858) visa.

The BIIP program will now be officially  closed. Although it has been effectively closed since 1st July 2023, when the states/territories weren’t allocated any 188 visa places.

This follows the closure of the permanent residency Subclass 132 Business Talent (Permanent) visa on 1st July, 2021.

Who is the National Innovation visa for?  

It is expected

What type of visa? 

Unlike the BIIP program, the National Innovation visa is likely to be a permanent residency visa.  It will however, like the Subclass 132 visa,  be monitored to ensure applicants comply with their intentions.

Under the BIIP applicants were initially granted temporary residency,  with a pathway to apply for permanent residency after at least 4 years of business/investment activity.

Why is the visa being introduced? 

The government in recent years has undertaken a review of the Migration Strategy.

The findings of the review included, that the BIIP temporary residency visa holders, especially the Business Innovation Stream,  weren’t providing the economic benefit they should and could have.

Alternately, there is a recognition that applicants who have held, or hold, the Subclass  the Significant Investor Stream do provide economic benefit. A significant investment is an in investment of at least AUD $5m into complying investments.

Are you interested?

It is expected that the visa will be in high demand. Applicants will need to be ready to submit their interest, potentially seek state/territory nomination and then submit an application as soon as they can.

While we all wait for the details of the National Innovation visa to be released, potential applicants can register their interest.

We will discuss your credentials as a entrepreneur, major investor or research history. We will make introductions to professional service providers that can assist in preparing for the application.

Got any questions?

If you want to know more about the visas, and whether you are eligible please Contact Us

Uglobal – We would like to thank Mark Welch for his contribution ..

We would like to thank Mark Welch for his contributions to the article “Why cryptocurrency is not widely used in the RCBI world, yet”

If you would like to discuss cryptocurrency and/or  Australian investor visas please Contact Us

  • Office: +44  (0)800772 0570
  • Mobile: + 44  (0)7710 649194
  • Email:  mark@cargilmigration.com

 

July 2021 – Changes to business & investment migration program

Update – Australia business and investor visas

The DHA have announced changes to their business and investment migration program.

Details about the current business and investment visa options can be found here .

If you would to discuss your options please Contact Us 

Australian visas – business owners, investors & venture capital entrepreneurs

Update – Western Australian business migration nomination

The WA Government have announced the below.

” Please note, applications for Western Australian State nomination for business and investor provisional visas are closed until further notice.

Western Australia has temporarily closed applications for State nomination for the Business Innovation and Investment provisional visas pending the release of additional places by the Department of Home Affairs. We value your interest in our program and encourage you to check this website regularly for updates. We hope to reopen the program shortly.”

If you have any questions about the above please Contact Us.

QLD Business migration update – 2nd January 2019

Business & Skilled Migration Queensland (BSMQ) temporarily suspends new invitations for business migration – will open again at a date to be advised https://t.co/nLPMWTsS2n— Australian visas (@CargilMigration) January 2, 2019

Brisbane

If you want to discuss how this will effect you, or plan for an application once the program opens again please Contact Us

Significant Investor Visa (SIV) statistics – an increase in interest

The Department of Immigration & Border Patrol (DIBP) have recently released some updated statistics about the Significant Investor visa (SIV) programme for the programme year 1 July, 2015 to January 31, 2016.

The SIV programme is a pathway to provide for significant migrant investment into Australia under the Business Innovation and Investment visa programme.

Business Innovation & Investment programme statistics

Business Innovation & Investment programme statistics

As of 31 January 2016:

· 1228 SIV visas have been granted from the commencement of the programme on 24 November 2012.

· AUD 6.140 billion has been invested in Complying Investments.

The statistics indicate there has been an increase in SIV applications lodged in recent months. Looking forward interest is expected to grow globally, including applicants from the UK and Europe.

If you would like some assistance, have a general query or would like an introduction to advisers that can assist with planning, preparing and lodging a SIV then please get in touch with us.