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The National Innovation visa – A new immigration program

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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?  

The visa be targeted at High-calibre Talent including:

  • Researchers & Thought Leaders
  • Entrepreneurs
  • Innovative Investors
  • Athletes & Creatives

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 ..

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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

 

Cryptocurrency in the investor & business visas world … Uglobal Immigration magazine

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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

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

 

SkillSelect EOI invitations – 26 July 2021

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Invitation Round: 26 July 2021

The number of invitations issued:

  • Skilled Independent Subclass 189 visa: 500 invitations
  • Skilled Work Regional Subclass 491 visa-Family sponsored: 250 invitations

Minimum points score:

  • Skilled Independent Subclass 189 visa: 80
  • Skilled Work Regional Subclass 491 visa – Family sponsored: 65

Invitations issued during 2021-22 program year

Visa subclassJulAugSepOctNovDecJanFebMarAprMayJunTotal
Skilled Independent visa (subclass 189)250250
Skilled Work Regional (Provisional) visa (subclass 491) – Family Sponsored500500
Total750

 

If you want to discuss the above, your current visa application or your visa options going forward please Contact Us.

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

 

 

UPDATE: Australian Business & Investor visa programs – July 2020

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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. 

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

 

Australian visas – business owners, investors & venture capital entrepreneurs

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Read more

Victoria – Business Migration program reopens

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Victorian government announcement – 19th February, 2019

After closing down their business migration program in January, Victoria have announced that they will reopen their business migration program as of Tuesday 19th February, 2019.

” Business Innovation & Investment Program Update

Your interest in Victoria’s Business Innovation and Investment Program is highly valued and we thank you for your patience while select visa nomination applications have been on pause.

We are pleased to advise that Victoria will begin issuing invitations and assessing nomination applications for affected business and investor visas subclasses from
18 February 2019.

Please note that an Expression of Interest (EOI) process will be introduced for the following visas:

  • 188 – Business Innovation Stream
  • 188 – Investor Stream
  • 188 – Entrepreneur Stream
  • 132 – Business Talent (Permanent) visa – Significant Business History stream
  • 132 – Business Talent (Permanent) visa – Venture Capital Entrepreneur stream

Applicants will now need to submit an EOI for the relevant visa subclass in the Department of Home Affairs’ SkillSelect and indicate their interest for Victorian nomination.

Applicants do not need to notify Victoria’s Skilled & Business Migration Program that they have submitted an EOI.

Please note that EOIs submitted before 18 February 2019 in the SkillSelect system will not be considered. You will need to resubmit to be considered for Victorian nomination.”

If you have lodged, or are considering lodging a business nomination application for Victoria please Contact Us to discuss this further.

 

Research Shows Immigrants Help Businesses Grow

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… Immigrants contribute disproportionately to entrepreneurship ..

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?

” …. that immigrant-led companies grow at a faster rate and are more likely to survive long term than native-led companies are.” 

 

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.

 

Open for Business – NSW business and investor visas reopened ….

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The NSW Government have announced that they have reopened applications for business & investor nomination.

And detailed in our BLOG in December  NSW had temporarily closed the program.

The full NSW announcement is below.

” Applications for NSW nomination for business and investor visas have reopened. 

NSW has reopened applications for nomination under the federal government’s Business Innovation and Investment Program. 

Applications for nominations for the following visas have been reopened:

  • Business Innovation and Investment (Provisional) visa (subclass 188) – Business Innovation stream
  • Business Innovation and Investment (Provisional) visa (subclass 188) – Investor stream
  • Business Innovation and Investment (Provisional) visa (subclass 188) – Significant Investor stream
  • Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream
  • Business Talent (Permanent) visa (subclass 132) – Significant Business History stream
  • Business Talent (Permanent) visa (subclass 132) – Venture Capital Entrepreneur stream

Entrepreneur applications for the following visas continue to be open and will be assessed:

  • Business Innovation and Investment (Provisional) visa (subclass 188) – Business Innovation Extension stream
  • Business Innovation and Investment (Provisional) visa (subclass 188) – Significant Investor Extension stream
  • Business Innovation and Investment (Permanent) visa (subclass 888) – Business Innovation stream
  • Business Innovation and Investment (Permanent) visa (subclass 888) – Investor stream
  • Business Innovation and Investment (Permanent) visa (subclass 888) – Significant Investor
  • State / Territory Sponsored Business Owner visa (subclass 892)
  • State / Territory Sponsored Investor visa (subclass 893) “

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