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Business Innovation and Investment Program update: changes to the investment framework

The Business Innovation and Investment Program (BIIP) offers permanent residency pathways for business owners, investors, and entrepreneurs who wish to relocate or expand their business and investment activities to Australia. The upcoming changes will provide for faster pathways to permanent residency for investors, as well as the potential for increased returns on investment.

The Morrison Government is reforming the BIIP with a view to maximising the economic contribution of the program to Australia’s COVID-19 economic recovery.

The key changes to the BIIP will be:

The purpose of these changes is to increase the amount of foreign investment through these visa programs and to shift the focus of investment towards venture capital and private growth equity. Investor Visa applicants will now have the potential to reap better returns on their investments from the previous conservative returns offered on state/territory government bonds.

Other BIIP changes that were previously announced are:

The changes to the BIIP will come into effect from 1 July 2021.

From 1 July 2021, the simplified BIIP will provide for four visa options:

  1. Business Innovation Visa
    1. For successful business owners who wish to own and operate a business in Australia
    2. Key threshold requirement is that you must have assets of A$1.25 million to bring to Australia
  2. Investor Visa
    1. For experienced business persons or investors who wish to invest in Australia
    2. Key threshold is A$2.5 million investment into a Complying Investment Framework
  3. Significant Investor Visa
    1. For high net worth individuals who wish to invest in Australia
    2. Key threshold is A$5 million investment into a Complying Investment Framework
  4. Entrepreneur Visa
    1. For entrepreneurs who wish to undertake complying entrepreneur activity in Australia
    2. Key threshold is that you must have an innovative idea that will lead to the commercialisation of a product or service, or the development of an enterprise in Australia

 

Published Thu 3 June 2021.

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