The Business Investment and Innovation Visa has been the topic of conversation at the Department of Immigration with the department putting a hold on it’s proposed change to the Business Innovation and Investment Programme (BIIP).
The changes which were due to come into effect on the 1st of July involved an amendment to the ‘pass mark’ for the points based criteria be reduced to 50 points from 65 points. Due to a requested recommendation made in an official Inquiry made by the Federal Parliament’s Joint Standing Committee on Migration, the proposed change is under review.
The Department of Immigration and Border Protection have advised that in addition to the BIIP, the other visa streams related to this programme will come under review to ensure the relevance of the points tailors to the needs of the economy and Australian business.
These streams include:
If you are considering applying for any business or investor visa’s and require more information on the requirements, please contact one of our registered migration agents.