Business & Investment and Skilled Migration Program for year 2021-22

Skilled Migration and Business & Investment Migration Program for the year 2021-22

Skilled and Business & Investment Migration Program for 2021-22

In 2021-22, the Migration Program Skill stream will continue to focus on visa categories that will help Australia’s economy rebound fromCOVID-19, with priority given to visa cohorts that drive economic growth, job creation and investment into Australia.

The three priority categories within the Skill stream for 2021-22 are

Business Innovation and Investment Program

Global Talent Visa Program

Employer Sponsored Program 

These visa categories provide investment, talent and critical skills to Australia, and are well positioned to assist Australia’s economic recovery.

The Skilled stream of Australia’s Migration Program is designed to attract skilled migrants who will make a significant contribute into Australian economy, and fill positions for which Australia is facing skills shortages or no Australian workers are available.

Skilled migrants have very high participation rates in the workforce, and therefore helps to stimulate economic growth, which results in more jobs.

The skilled migrants who become part of Australian society through skilled stream also plays an important role in regional development by providing skills and labour which can't be sourced locally, as well as encouraging investment and promoting local spending in regional areas.

As global competition for talent intensifies, Australia is working to attract the best and brightest, to help grow a stronger economy.

The Australian Government has established the Global Business and Talent Attraction Task force to attract high-value businesses and exceptionally talented individuals to Australia, along with their ideas,networks and capital.

Australia has dedicated talent attraction programs designed to turbocharge the Australian economy.​

Some of the main changes that will come into effect on 1 July 2021 are as follows

The BIIP program is being simplified from 9 streams to 4 streams - the Business Innovation, Investor, Significant Investor and Entrepreneur stream (188A, 188B, 188C and 188E).

Provisional visa holders in all 4 streams can apply for permanent residency (PR) after 3 years if they meet PR requirements. The provisional visa will now be valid for 5 years so that visa holders have more time to meet the requirements to apply for PR. 188A (Business Innovation stream) and 188C (Significant Investor stream) visa holders will have a mechanism to extend their visas once for 2 years for 188A and twice for 2 years for 188C.

188A visa holders will be required to hold business assets of $1.25 million (up from $800,000) and have an annual turnover of $750,000 (up from $500,000) in order to demonstrate their business acumen. For the 188E (Entrepreneur stream) visa, the $200,000 funding requirement will be removed and instead, applicants will need to be endorsed by a State or Territory government.

‍

Disclaimer: ‘Atlantis International Pty Ltd’ and its associates are independent consulting entities which are not associated in anyway with the Australian ‘Department of Home Affairs’ (DOHA). Information on this website does not constitute personal migration advice. For a customized migration advice based on your personal circumstances, please call and talk to one of our Immigration Consultants or register your interest with our Associates.