Latest Australia Immigration News on upcoming changes 2021
Let us start with the Latest Australia Immigration News changes to the Business Innovation and Investment Program (BIIP) that provides three visas and nine visa categories for candidates with an established track record of innovation, investment and business success or talent. In the present time this is shortened to four categories. The changes came to effect from 1st July 2021.
Present holders Business Innovation visas will now be expected to maintain $1.25 million in business assets, up from $800,000, and are required to have an annual turnover of $750,000 from $500,000. Also, from July 2021, as per the recent Australia immigration podcast the Premium Investor, Significant Company History and Venture Capital Entrepreneur visas will be closed.
Under the present scheme, the majority of BIIP migrants will reach Australia on a provisional visa for a period of 4 years. After this time if they complete all the stipulated visa requirements, they can apply for permanent resident visa of Australia. With the recent changes to this kind of Australia PR visa, presently the provisional visas will now be valid for a total of five years. This will permit the candidates additional time in hand to fulfil permanent residency requirements.
Also, the Australian region of New South Wales also known as NSW has updated their skilled occupation list for Subclass 190 and 491. In case of Subclass 491, it is being requested for the applicants apply for a nomination only from the individuals who are living in that same region. For Subclass 491 visa candidates they have a choice to apply under three streams to become eligible for nomination under this region for Australia PR visa.
Here are the three categories namely:
- Living and working in regional NSW
- Recently completed studies in regional NSW
- Living and working outside of regional NSW
Many of the immigration applicants will be favoured to be able to apply under the third category as well as at least have a minimum of 5 years of skilled employment experience in order to apply for Australia PR visa.
For more such recent updates, you can get in touch with our certified immigration consultants at 8595338595 and Mail us at [email protected]