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When can investors expect a new price tag for the Business Innovation and Investment Program of Australia?
I learned recently that the Australian government is considering a price hike for its Business Innovative and Investment program. When can foreign investors expect new rules/investment thresholds to be put forward and become effective?
Answers
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This is usually a long consultative process that will involve changes to the legislation. There is no way of knowing an exact date when changes will occur but the consultation process has commenced.
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Traditionally, old rules are more explored and established in methods. New rules tend to tighten the control of the visa given the current popularity of Australian Visas.
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We're expecting changes to be made and introduced from July, 2021. It is likely the subclass 188 investor will increase to 2,5 million Australian dollars from the current A$1,5m. The subclass 188 significant investor visa (SIV) is expected to remain at A$5m, but the venture capital fund component will likely increase from A$500k to A$1m. None of these changes are confirmed as yet but are very likely.
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