Budget almost doubles places in the Business, Innovation and Investment program (BIIP)

[Steve Elliott]

Hi All 

There were widespread fears the business and investment migration program might be heavily cut back in response to Covid. These fears are unfounded and thankfully the Government has seen sense and realised that a key driver to recovery is investment, including successful offshore business owners and investors. 

So, tonight's news in the budget will come as a relief to many.  Just announced in the budget is an effective doubling of the program to 13,500 places from 7,260. Comments from the minister are below. As ever, the devil will be in the detail and I suspect the 188a may well have a limited life expectancy as funds in a State Government bond really do not do anything for the economy. I suspect there will be a greater focus on business ownership and investment in businesses as opposed to debt. I'm sure details will be out shortly. For those who have already lodged an a visa application the proposed changes will almost certainly not apply to you!

"The program will have a strong focus on attracting the best and brightest migrants from around the world, with a tripling of the Global Talent Independent program allocation to 15,000 places and an increase in the Business Innovation and Investment Program (BIIP) to 13,500 places. The BIIP will also be streamlined and reformed to ensure that investments are targeted at Australian venture capitals and emerging small and medium size businesses to support the economic recovery." 

I will post more details as they emerge.

[NettyHodgy]

Hello Steve, would you happen to know how I can somehow escalate/promote a Visa application to Case Worker Allocation stage?

I have a lodged my application with the ACT, however at the point of invitation the time scale was estimated at 18 months, as this has now increased to 36 months it changes our options completely as should we have to wait this long our family situation will be change considerably due then pending examinations and university/college programs being in place etc..

Having spoken to the ACT they are desperate for our type of business NOW, can we get backing from anywhere, can we contact anybody to discuss our situation?

Any advice would be apprecaited

Thank you 

[NettyHodgy]

On 06/10/2020 at 11:12, Steve Elliott said:

Hi All 

There were widespread fears the business and investment migration program might be heavily cut back in response to Covid. These fears are unfounded and thankfully the Government has seen sense and realised that a key driver to recovery is investment, including successful offshore business owners and investors. 

So, tonight's news in the budget will come as a relief to many.  Just announced in the budget is an effective doubling of the program to 13,500 places from 7,260. Comments from the minister are below. As ever, the devil will be in the detail and I suspect the 188a may well have a limited life expectancy as funds in a State Government bond really do not do anything for the economy. I suspect there will be a greater focus on business ownership and investment in businesses as opposed to debt. I'm sure details will be out shortly. For those who have already lodged an a visa application the proposed changes will almost certainly not apply to you!

"The program will have a strong focus on attracting the best and brightest migrants from around the world, with a tripling of the Global Talent Independent program allocation to 15,000 places and an increase in the Business Innovation and Investment Program (BIIP) to 13,500 places. The BIIP will also be streamlined and reformed to ensure that investments are targeted at Australian venture capitals and emerging small and medium size businesses to support the economic recovery." 

I will post more details as they emerge.

Hello Steve, would you happen to know how I can somehow escalate/promote a Visa application to Case Worker Allocation stage?

I have a lodged my application with the ACT, however at the point of invitation the time scale was estimated at 18 months, as this has now increased to 36 months it changes our options completely as should we have to wait this long our family situation will be change considerably due then pending examinations and university/college programs being in place etc..

Having spoken to the ACT they are desperate for our type of business NOW, can we get backing from anywhere, can we contact anybody to discuss our situation?

Any advice would be apprecaited

Thank you 

[Steve Elliott]

HI Netty,

Firstly, I would take the published time lines with a piece of salt. Based on several communications from DHA and the Australian Government, a higher priority is being placed on visas. This is reflected in the increased quota for 2020-2021 and travel exemptions being granted to grant recipients. I am certainly seeing an acceleration in business visa grants and invitations in recent weeks. 

Your comments re circumstances changing is common however Government is unlikely to budge due to this as many applicants are in similar situations. I would strongly suggest you back to your agent to seek their opinion on this. Not knowing what your business it is and why the act Government is desperate for such businesses, perhaps again you could confer with your agent as to possible avenues which may be open to you in this regard. Obviously with a child at University, you also need to be mindful of the definition of a dependent child.

 

I hope you ffind this useful

[NettyHodgy]

2 hours ago, Steve Elliott said:

HI Netty,

Firstly, I would take the published time lines with a piece of salt. Based on several communications from DHA and the Australian Government, a higher priority is being placed on visas. This is reflected in the increased quota for 2020-2021 and travel exemptions being granted to grant recipients. I am certainly seeing an acceleration in business visa grants and invitations in recent weeks. 

Your comments re circumstances changing is common however Government is unlikely to budge due to this as many applicants are in similar situations. I would strongly suggest you back to your agent to seek their opinion on this. Not knowing what your business it is and why the act Government is desperate for such businesses, perhaps again you could confer with your agent as to possible avenues which may be open to you in this regard. Obviously with a child at University, you also need to be mindful of the definition of a dependent child.

 

I hope you ffind this useful

Thank you Steve. I appreciate you taking the time to reply.

i didn't know whether a letter of support from the ACT Government would benefit our application being accelerated, or if ultimately we are just in a long pile of applications which they process regardless in date order?

 

Kindest Regards