From July 20, investors or business owners wishing to invest in South Australia can apply for a state nomination under four streams of the Business Innovation and Investment (Provisional) Subclass 188 visa. Also known as BIIP, this visa is a two-step path to becoming permanent. residence.
After three years of stay with this visa, applicants can apply for the Business Innovation and Investment (Permanent) Subclass 888 visa.
- South Australia to open business visa applications on July 20
- Two eligibility conditions have been removed by South Australia for the 188 visa
- Federal government allocates 1,000 places to South Australia for 188 visas for 2021-2022
The four components of this visa are: business innovation, investor, significant investor and entrepreneur.
Once applicants get their 888 visa approved, they can live in Australia permanently and are exempt from travel restrictions. They can enter and leave Australia freely.
Previously, applicants had to first submit their Intention to Apply (ITA) form and undertake a physical exploratory visit to the state, or be eligible for a virtual exploratory visit before applying for a state appointment. .
Under the current changes for the 2021-2022 program year, applicants will no longer be required to submit their ITA form and undertake an exploratory visit prior to application.
The requirement for a virtual exploratory visit for applicants unable to travel due to COVID restrictions or visitor visa denial has also been removed.
“The process for applying for state nomination for this stream has been streamlined and flexible,” Sidra Shahab, a migration officer, told SBS Hindi.
“Previously, the requirement was to visit the state for at least three nights as part of the exploratory visit or to be eligible for a virtual visit requirement before a candidate could apply for a nomination,” he said. -she adds.
The state has relaxed the process to attract investors, Sidra said.
On its website, the Government of South Australia states that visa subclass 188 nomination applications will be assessed over four quarterly periods during the 2021-22 program year to assist in the management of allocation quotas provided by the Ministry of the Interior over the entire period. program year.
The indicative dates for the evaluation quarters are as follows:
First round: from August 2 to September 24
Second round: from October 25 to December 17
Third round: January 31, 2022 to March 25, 2022
Fourth round: May 2, 2022 to June 24, 2022
He added that application access for the entrepreneur stream will follow in August and that another announcement on this will be provided in due course.
For each visa flow, an applicant is required to demonstrate a net total of business and personal assets. For example, in the investor stream, successful investors or business owners should be willing to invest and keep $ 2.5 million, while those in the large investor stream should invest $ 5 million.
A spokesperson for the Home Office told SBS Hindi that for Australia’s 2019-2020 migration program, “housing (for the BIIP flow) increased 5.8% in 2019-2020, with 15,784 first-stage claims filed against 14,922 first-stage claims. done in 2018-2019 ”.
The spokesperson added that the BIIP pipeline for Australia grew by 36.3% in the 2019-2020 program year, from 23,223 applicants as of June 30, 2019, to 31,661 as of June 30, 2020.
“There were 4,420 places delivered in the BIIP against a planning level of 6,862 places for Australia’s 2019-2020 migration program and that included just over 550 places for South Australia,” said explained the spokesperson.
For the 2021-2022 program year, the department has allocated 1,000 places to South Australia for its BIIP.
Unlike South Australia, Victoria, which opened applications for visa subclass 188 for 2021-22 on July 13, requires an applicant to first submit an expression of interest with SkillSelect, has an STEMM qualification (science, technology, engineering, mathematics and medicine), an MBA or relevant business background in a target industry.