South Australia to open 2021-22 business and investment visa nominations on 20 July.
From 20 July, investors or business owners willing to invest in South Australia can apply for state nomination under the (BIIP) Business Innovation and Investment (Provisional) visa Subclass 188.
BIIP Visa is a two-step pathway to permanent residency. After three years of staying on this visa, applicants can apply for the Business Innovation and Investment (Permanent) visa Subclass 888.
After applicants get their 888 visas approved, they can live in Australia permanently and are exempt from travel restrictions. They can enter and exit Australia freely.
There are four streams for this visa: business innovation, investor, significant investor and entrepreneur.
For each visa stream, an applicant is required to demonstrate a total net business and personal assets.
Who can apply?
Business Innovation stream: Business owners who have undertaken investment or business activity in South Australia that meets a ‘benefit to state’ requirement.
Investor stream: Have invested AUD $2.5 million into a complying investment fund for the duration of the provisional visa. AUD $3.75 million for people over 55 years of age.
Significant Investor stream: Have invested AUD$5 million into a complying investment fund for the duration of the provisional visa.
Y-Axis can help you with Business & Investment Visa applications. Contact us for free counselling.
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