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July 7, 2021

Australian BIIP Residency Program Changes from 1st of July

From the 1st of July 2021, Australian Residency BIIP Program investors will need to stump up an extra $1 million to gain a visa and live in Australia under the Investor Stream scheme.

The changes will take effect from July 1, and new regulations will shorten the time towards permanent residency for the investors. Now, if the requirements are met, applicants will be able to apply for permanent residence after 3 years.

The immigration minister of Australia, Alex Hawke commented: “Australia is an attractive destination for investors and these changes will directly benefit emerging enterprises, the commercialisation of Australian ideas, and research and development.”

“Increased investment thresholds and the adjustment of investment ratios to focus more on venture capital and private growth equity will better support innovation and emerging enterprises in Australia.”

Australian Residency Program Overview

Australian BIIP Residency by Investment program offer a direct pathway to permanent residence after 4 years. To participate in BIIP Australian Program, visa applicants must meet requirements to satisfy health, character, and public interest criteria.

Australia is the world’s sixth-largest country and one of the first countries to establish democracy in the modern world. Being one of the wealthiest countries in the world, Australia offers well-developed multicultural environment, high quality of life, protection of civil and political rights and economic freedom to its residents.

At the moment, Australia is world’s 14th largest economy and has over 25 million population that is centred in urban areas in the east and in coastal areas. The largest cities in Australia are Sydney, Melbourne, Brisbane and Perth, all have something to offer for each visitor.

What are the Australian Residency program benefits?

Australian BIIP program offer a direct pathway to permanent residence after 4 years, subject to meeting certain residence and investment or business turnover requirements. The program lets the whole family live in a multicultural environment with political, social and economic stability. Children obtain access to high-standard schooling and Australian universities. In addition, Australia is one of the best places for the business investment due to its stable and growing economy.

Investment Options

Temporary business visa streams offer a direct pathway to permanent residence after 4 years, subject to meeting certain residence and investment or business turnover requirements. The Business Innovation and Investment Program includes the following business visa streams:

  1. The Business Innovation Stream
  • Individuals must pass a points test
  • Applicants should have a successful business with a turnover of at least $500,000(AUD) , and net assets $800,000 (AUD).
  • Substantial ownership and management of an Australian business.
  1. The Investor Stream
  • Applicants must pass a points test and have at least 3 years of investment experience.
  • Applicant should commit $1.5 mlm (AUD) into an Australian state or territory bond for 4 years.
  • The applicant should have net assets of at least 2.25 million (AUD).
  1. The Significant Investor Stream
  • Applicants should commit at least $5 mln (AUD) into a complying Australian investment.
  • Investment should be held for at least 4 years.
  • Permanent residence after four years.
  1. The Entrepreneur Stream
  • Applicants must sign a formal agreement to receive $200,000 (AUD) in venture capital funding from an Australian company.
  • Funding must be used for the commercialisation or development of a high-value business idea or product.
  • The Permanent residence will be granted after four years.

LONDON BASED SOLUTIONS ADVISERS – Australian Residency

Full Support with our Immigration Advisers & Property Consultants:

Property search based on your requirements (from residential properties to high-value luxury developments)

  • Property virtual tours, 3-D tours and in-person tours available.
  • Due diligence checks and additional property checks completed by our experts.
  • Residency & Citizenship document preparation and submission.
  • Full support until you receive your second passport & residency.

Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow and has expertise in offering UK Visas and Immigration by Investment services to high net worth individuals. Our immigration advisers are regulated by OISC and IMC (Investment Migration Council).

For further information or to discuss your personal circumstances in a private consultation with our immigration lawyers in London Office, please contact us at enquiries@manns-solutions.com or call +44 207 993 63 46.

Photo by Jordan on Unsplash