Investing in Australia’s future – Changes to business and investment migration

The Business Innovation and Investment Programme (BIIP) was created to attract high quality investors and entrepreneurs to Australia. It currently includes the Investor visa, the Business Innovation visa, and the Significant Investor visa (SIV). From 1 July 2015 it will also include the Premium Investor visa (PIV).

On 15 May 2015, the Minister for Trade and Investment, the Hon Andrew Robb AO MP and Assistant Minister for Immigration and Border Protection, Senator the Honourable Michaelia Cash announced the new complying investment framework for the SIV and PIV. In order to be granted a SIV or a PIV, an applicant will need to make an investment that complies with the complying investment framework.

The framework is designed to encourage investment in innovative Australian ideas and emerging companies. You can view the media release here and details on the new framework here.

Along with the new complying investment framework, the government intends to make a number of changes to the BIIP from 1 July 2015.

New flexible residency arrangements will be introduced for the SIV. From 1 July 2015, eligibility for the permanent SIV will require either the primary applicant to reside in Australia for 40 days per year OR the secondary applicant (spouse or de facto partner) to reside in Australia for 180 days per year. This residency requirement will be per year and will be calculated cumulatively over the period of the provisional visa. For example, 160 days over four years for a primary applicant or 720 days over four years for the secondary applicant (spouse or de facto partner).

Also from 1 July 2015, Austrade will become an eligible nominator for the SIV, in addition to State and Territory governments. Austrade will also be the sole nominator for the PIV.

Aside from changes to the SIV and the PIV, there is a change that applies only to the Investor and Business Innovation streams, which is the reintroduction of role swapping. This  will allow a secondary applicant to apply to fulfil the primary criteria for the permanent visa on behalf of the primary applicant.

If you have any questions, check out our website.


Be invested— benefitting Australia through investment migration

The Australian Government announced changes to investor visas designed to enhance the attractiveness of investment migration in Australia on 14 October 2014. The announcement was made following a departmental review of the programme.

Significant Investor visas are a niche category of Australia’s skilled migration programme. They make substantial contributions to Australia’s economy, with more than AUD 2 billion injected into Australia’s economy since their inception in November 2012.

In order to be eligible for the Significant Investor visa, applicants must invest AUD 5 million into approved investments in Australia. Visa holders must then maintain their investment for at least four years in order to be eligible for permanent residency.

Exciting changes to the programme will see the creation of the Premium Investor visa on 1 July 2015. This visa will allow applicants who invest AUD 15 million in approved investments to be eligible for permanent residency after 12 months. These changes are good news for investment in Australia, and will also enhance the attractiveness of the programme for potential applicants.

To ensure investors’ dollars work hard for Australia, Austrade will now assume policy responsibility for approving the investments that qualify for the programme.

Significant Investor visa nominations will continue to be made by states and territory governments. Austrade will also be able to nominate applicants for this visa type, as well as be the only nominating agency for the Premium Investor visa.

Learn more about investment migration to Australia.

Keep following our blog for news on upcoming changes to Australia’s Business Innovation and Investment programme.