I'm an investor based in the Middle East and I want to explore business opportunities in Victoria. What are my options if I plan on making investments sometime late this year?
Entry to Australia via investments remains open, changes will be implemented from July 1, 2021. Most importantly, find an experienced registered migration agent or immigration lawyer to assess whether your situation meets the requirements of Victoria and visa conditions. Once that starts, I believe you have a much better chance to decide which investment stream will suit you the best.
The Victorian government’s Skilled and Business Migration program will not accept new nomination applications for the subclass 132 visa from April 1, 2021. This is because Australia has announced that the visa subclass 132 will no longer be open to new visa applications from July 1, 2021. Therefore, if you are looking for business investment visa programs, you need to apply for the subclass 188 visas, which are 4-year provisional visas providing pathways to permanent residency. If your want to visit Australia for business and make inquiries, you can apply for the sub class 600 (business visitor stream) visa, which is valid for 12 months and one stay for up to 3 months on every visit.
The business programs in all Australian states and territories will reopen at some stage in the new financial year, with a new quota designated by the Department of Home Affairs. The programs close around the same time every year as their quotas are filled; this does not mean that they closed for the rest of the year. The new financial year begins on July 1 in Australia.
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