Australia Sharply Reduces BIIP Visa Availability for 2023/24 Despite Record Backlog
“The future of the BIIP is uncertain,” writes James Hall, pointing to new planning levels that will exacerbate the already huge backlog.
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Australia Cuts New Intake for Business Innovation and Investor Program by 88%
Hoping to reduce 30-month processing times for business investor visas, Australia’s government is drastically restricting new applications.
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Australia Approves Record BIIP Applications in FY2021: 10x Increase in Hong Kong Applicants
Vietnamese, Iranian, South African, Indian, and British applicants all saw approvals far above historical norms, even adjusting for the higher quota.
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Australia to Raise Investor Visa Min. Investment by Another Million From July
The total investment amount for the Investor Visa will rise from AUD 1.5 to AUD 2.5 million on July 1st.
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Queensland BIIP Nominations Reach Capacity Just 7 Months Into Fiscal Year
Australia expects the majority of approved BIIP applications this year will come from the 24,000-strong backlog of cases.
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Australia BIIP Approvals Down Almost 40% in Year to June 30th, 2020
Processing capacity has tumbled since the onset of the pandemic, but Australia has plans to make up for lost investment this year.
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Australia Announces Major Changes to BIIP: Cuts 5 Categories, Raises Capital Requirements
Australia is bringing wide-ranging changes to its extremely popular BIIP, cutting five categories and raising capital requirements.
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Australia to Double Its Investor Visa Quota as Part of Economic Recovery Plan
The Ministry is targeting “those who are going to grow Australian businesses, create Australian jobs and supercharge our economic recovery.”
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Australian Govt. Says Min. Investment Requirements for Investor Visas Are Too Low
Capped at 6,862 applications a year, Australia’s BIIP is invariably oversubscribed. This, says the government, leaves room for significant price increases.
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After Three Years of Decline, Australia’s SIV Program Regains Momentum
The program’s largest fund manager says that, thanks to non-SIV follow-up investments, total FDI arising from the program may be close to A$50 billion.
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App. Backlog Nears 20,000 for Australia’s Business Innovation & Investment Visa
Close to 80,000 investor migrants and dependents have obtained Australian visas under the BIIP, but 18,682 applicants are “in the pipeline”.
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