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
Uglobal Immigration magazine
Recently we shared some comments we made to Uglobal Immigration magazine about visa options for same sex partners.
We have again been asked to provide comments. This time with regards to cryptocurrency in investor visas. Our response was recently published in an article on the Uglobal Immigration website.
Mark Welch, who is the founder of Australian law firm Cargil Migration, said that based on his recent conversations with the Australian Department of Home Affairs (DHA) officials, he can confirm that digital currencies are excluded as a source of funds or assets, and therefore, could not be used for investment immigration.
“The DHA is unable to track digital currencies and, therefore, verify that the funds are lawful. Any funds which cannot be confirmed as lawful, can’t be considered in the Business Innovation and Investment visas,” Welch said.
If you would like to discuss cryptocurrency and what assets are eligible for Australian investor or business visas please Contact Us
UPDATE: Business & Investor visa visa program – July 2020
As with the General Skilled Migration (GSM) program the business and investor program is currently being reviewed by the DHA. It is expected that it will re-open in the coming weeks & months.
At the stage it there have been no changes announced to the visas themselves, just when the program will reopen. If you are interested in knowing what your business or investor visa options are please get in touch.
We can still provide visa options, discuss your plans, confirm what is required by applicants, introduce you to our partners, (eg. VC ensure Capital providers) and look to prepare submissions upon re-opening of the visa program.
An overview of the states/territories nomination status as of now is below:
ACT – The ACT nomination program is currently suspended. Any submitted applications will not be processed until further notice.
NEW SOUTH WALES – NSW is currently closed to applications for nomination under the Business Innovation and Investment Program (BIIP). NSW will open to new nominations once the DHA provides NSW with an allocation of positions for 2020-21
NORTHERN TERRITORY – At this stage all Business Investment and Innovation Program nomination applications will continue to be accepted and assessed, but no nominations can be issued until the Northern Territory has been allocated quotas.
QUEENSLAND – The business migration program will remain closed until further notice. Please note: BSMQ are not accepting any Expressions of Interests and look forward to opening the business program as soon as is possible.
TASMANIA – The Tasmanian Business Nomination Program is currently being reviewed. Tasmania have confirmed with us that they hope to have this review completed and new requirements published by the end of August 2020.
SOUTH AUSTRALIA
Business Migration programs are scheduled to re-open from early August. This will be dependent on the Commonwealth Government’s allocation of state nomination places for program year 2020-21.
VICTORIA
The Victorian Government’s state nomination program will remain temporarily closed while we await the Commonwealth Government’s allocation of state nomination places for 2020-21.
WESTERN AUSTRALIA – All State nomination places from the Department of Home Affairs (DHA) for Western Australia have now been allocated. They are not accepting any new applications for subclasses 188 or 132 until further notice.
If you want to discuss how you are effected, your current visa application or your visa options going forward please Contact Us.
Are you a business owner, high net wealth individual or looking for Australian Venture capital ? Are you considering a move to Australia? Or just looking for Australian VC?
If you are then assess yourself – using the guide below – and let us know if you consider you may be eligible!
Australia – business owners, investment & VC visas
If you want to discuss how both Cargil Migration and our partners can assist you then please Contact Us.
Business skills
An interesting article on the impact of immigrants on businesses. Whilst it is a US article, from Harvard Business Review, it no doubt applies to Australia too.
What the key takeaway of the study?
Please read the article and Contact Us if you want to discuss the Business Owner, Investor and Venture Capital visas available to migrate to Australia.
Research Shows Immigrants Help Businesses Grow #Australia #immigration #businessmigration #investormigration #visashttps://t.co/H8PZq1kt37
— Australian visas (@CargilMigration) January 24, 2019