The migration allocations for the year ending 30th of June 2024 have zero allocations for Business and Investor Visas. That signifies that there are no Business or Investor Visas available for this year, as illustrated in the chart below.

This means it will not be possible to get a state nomination for any of the four streams of the Business and Investor Visa Program. 

The four streams of the Business Innovation and Investor Programme (BIIP) are:

• Business Innovation stream
• Investor stream
• Significant Investor stream
• Entrepreneur stream

 Why did they close the Business 188 visa?

The Parkinsons’ Migration Review Final Report had several negative comments about the Business Innovation and Investor Programme. These negative comments included that the overall age of business Visa applicants is higher than other visas and that this could cause high medical expenses. Further, there were comments that 188 Visa holders had low incomes while in Australia.

In relation to the income point, we argue that this was based on accurate information that underestimated the range of income generated by Business Visa holders, including through their business and personal. 

The migration review also recommends revisiting the allocation of places across the permanent skilled program. In particular, it suggests reconsidering the size and role of the Business Innovation and Investment Program (BIIP), noting more positive outcomes from the Significant Investor Visa.

Other visa options

If you do not want to wait until new Business and Investor Visas are announced, you may consider the Global Talent Visa. 

To learn more about the Global Talent Visa and to explore your immigration options, please visit: https://www.workvisalawyers.com.au/services/global-talent-distinguished-talent-visas/global-talent-independent-visa.html

New Investor Visa opportunities coming from July 1, 2024

The Migration Review Final Report did mention some positive contributions by their Significant Investor Visa and suggests consideration be given to whether the BIIP is retained as a substantial program.

We expect a redeveloped version of the Significant Investor Visa to be introduced from 1 July 2024. 

On page 66 of the report, there are suggestions that consideration should be given to whether the BIIP is retained as a substantial program: “We note that outcomes for the small Significant Investor stream have been stronger than for the remainder of the BIIP. If there is a desire to retain some element of the BIIP, consideration could be given to drawing on the relative strength of this stream in designing a niche investment visa product, much more sharply targeted to select migrants able to drive innovative investments or play a valuable role in the venture capital industry.”

It is expected that the new investor Visa will be similar to the current significant investor Visa and may require: 

• $5000,000 investment into a complying investment
• Complying investments are yet to be determined by the federal government and may include a stipulated percentage of investment into venture capital.

If you intend to invest in Australia, we can help you find the best Australian business visa options. Our team of experienced Immigration Lawyers and Migration Agents looks forward to assisting you. If you are interested in a Significant Investor Visa for Australia, please contact us.

Sources:

https://immi.homeaffairs.gov.au/what-we-do/migration-program-planning-levels

https://www.homeaffairs.gov.au/reports-and-publications/reviews-and-inquiries/departmental-reviews/migration-system-for-australias-future

https://www.homeaffairs.gov.au/reports-and-pubs/files/review-migration-system-final-report.pdf

 How can Work Visa Lawyers help?

If you need help with this visa, Work Visa Lawyers can assist you.

Work Visa Lawyers is highly experienced in all parts of an employer-sponsored visa application process. We can assist with all aspects of the application and will provide an eligibility assessment before advising you to proceed with a visa application.

Based in Adelaide South Australia, we provide Australian Immigration advice to people and businesses from all over the world. You can book an appointment online or call us at (+61) 8 8351 9956.

Greetings to all aspiring immigrants and those keen on keeping up with the latest developments in Australian immigration. Here's a roundup of the most recent updates you need to know:

VETASSESS Skills Assessment Changes

VETASSESS has stopped taking skills assessments for the trade occupations of Chef, Cook, Diesel Motor Mechanic, Motor Mechanic (General), Fitter (General), Electrician (General), and Metal Machinist (First Class). This change comes as a disappointment to many tradies.

For more information: https://www.youtube.com/shorts/f6rVvopc19o

There were some positive signs in recent months for the 188 Visa. These include that allocations have been announced of 1900 places for 2023, 2024 years.

https://www.workvisalawyers.com.au/news/all/australia-visa-numbers-2024-189-491-siv-
and-gtv.html

The Parkinsons’ Migration Review Final Report, while overall, having some negative comments did say that it could say there are some positive contributions by their Significant Investor Visa.

Competition between the states for high-quality 188 verse applicants:

In the 2023 migration program year just 810 places were allocated to the states, and this led to a very high competition. The result of this was most states increased their criteria above the minimum requirements from the Department of Home Affairs (DoHA). So, in this program, here, we could expect the same approach from the states and territories.This means that 188 Visa applicants may need to consider the different states and choose the one which suits their profile best.

It is likely that the most popular states, such as New South Wales and Victoria, will have high criteria that many applicants can’t meet. Some states may concentrate mostly on the Significant Investor Visa. With a modest number of places, available of up to 1900, states may also run out of allocations before the end of the program year on 30 June 2024. 

Here is some information about what happened last year for the 188 Visa:

There are also many potential 188 Visa applicants waiting to put a nomination in because last year’s programs closed early. It is going to be a case of the first in best dressed for the 188 visas. 

Please visit our website, fill in the questionnaire, and find out if you qualify for 188.

https://businessvisacompare.com.au/

Australian Business and Significant Investor Visas Subclass 188 Closed - New Visa Expected in 2024! Read more here! 

Help from our experienced team:

Our team of experienced Immigration Lawyers and Migration Agents looks forward to assisting you with your business and investor visas.

Based in Adelaide, South Australia, we provide Australian Immigration advice to people and businesses from all over the world.

If you require further information regarding your Australia visa options, you can contact us through: (08) 8351 9956 or +61 8 8351 9956 or This email address is being protected from spambots. You need JavaScript enabled to view it.

Are you over the age of 45 and considering migrating to Australia?

The Australian visa system offers several options specifically tailored for individuals in your age group. In this article, we will explore seven visa pathways that could open doors to work, live, or reunite with loved ones in Australia. From employer-sponsored visas with relaxed age restrictions to family-related pathways and investment opportunities, there are diverse options to suit your circumstances. Join us as we delve into the details of each visa, highlighting key requirements, concessions, and benefits. Please note that while this information provides a helpful overview, it is crucial to consult with an immigration lawyer or registered migration agent to obtain accurate and up-to-date advice based on your specific situation. Let's embark on this exploration of Australian visa options for individuals over the age of 45 and uncover the possibilities that await you.

Please check now the 7 Visa option below:

1.  DAMA Visa.

The Designated Area Migration Agreement, or DAMA, is an employer-ponsored visa program that allows businesses in specific regional areas of Australia to sponsor skilled workers. Unlike other visa programs, the DAMA Visa has relaxed age restrictions, making it an attractive option for individuals over 45 but under 55. If you have can secure a relevant employer in designated regional area, this could be a viable pathway for you.

One of the notable concessions of the DAMA Visa is the relaxation of age restrictions. Unlike many other visa programs, the DAMA Visa can have an age concession for some occupations up until the age of 55.

In addition to age concessions, the DAMA Visa also offers salary concessions. The DAMA allows employers in designated areas to pay a salary that is below the Temporary Skilled Migration Income Threshold (TSMIT) which from 1 July 2023 will be $70,000. This means that employers can offer a slightly lower salary to sponsored individuals compared to other visa categories.

Another advantage of the DAMA Visa is the expanded list of skilled occupations available for sponsorship. The DAMA provides access to additional occupations that are not on the standard list of eligible skilled occupations for other visa programs.

These concessions and benefits make the DAMA Visa an attractive option for individuals over 45 who are looking to migrate to Australia and work in specific regional areas. If you have a job offer in a DAMA-designated area and meet the skill requirements, I highly recommend considering the DAMA Visa as a pathway for your migration.

This script provides an overview of the DAMA Visa and its concessions for individuals over 45. It is important to consult with an immigration lawyer or a registered migration agent to obtain accurate and up-to-date information based on your specific situation.

2. Global Talent Visa.

The Global Talent Visa is designed for individuals who possess exceptional talent or have outstanding achievements in specific target sectors. The target sectors are mostly tech focussed and are listed on screen.

The standard requirements  for the GTV apply up until  the age of 55.

After the age of 55, you must be of exceptional benefit to the Australian community. If you have the skills and experience that Australia needs, the Global Talent Visa might be the right choice for you.

3. 482 Visa.

The Temporary Skill Shortage Visa, commonly known as the 482 Visa, is an employer-sponsored visa that allows skilled workers to work in Australia for a temporary period. While there is no specific age restriction for this visa, it is important to note that sponsors need to demonstrate that they cannot find a suitable Australian worker for the position. If you have a sponsor and meet the skill requirements, the 482 Visa could be an option for you.

 But the 482 is only a temporary visa.  But in limited circumstances, it can lead to PR for those over 45.

4. 186 Visa

The Employer Nomination Scheme or 186 visa can lead to PR for people over 45 in a limited number of circumstances.

There is an exemption for those earning a salary over the Fair Work High Income Threshold for three years straight.

There is an exemption for some occupations including Lecturers and scientists working for the government.

There is an exception for medical practitioners working in regional areas for at least two of the last three years.

5.  Partner Visa.

The Partner Visa category allows individuals who are in a genuine and committed relationship with an Australian citizen or permanent resident to apply for a visa. Unlike other visa options, there is no age limit for the Partner Visa. If you are in a relationship with an Australian partner and can demonstrate the genuineness of your relationship, this pathway could be the right fit for you.

6.  Parent Visa.

The Parent Visa category is available for individuals who have children who are Australian citizens or permanent residents. While there is no age limit for this visa, it is important to note that there can be significant processing times and financial requirements associated with this pathway. If you have children who are Australian citizens or permanent residents, the Parent Visa might be worth considering.

7. Significant Investor Visa.

The Significant Investor Visa is a pathway for high-net-worth individuals who are willing to invest a substantial amount in Australia. To be eligible for this visa, you must have at least 5 million Australian dollars to invest in approved investments. Age is not a limiting factor for the Significant Investor Visa, making it an attractive option for individuals over 45 with significant financial resources.

Watch the video now:

Do you need help?

Our team of experienced Immigration Lawyers and Migration Agents look forward to assisting you with your Australian visa or appeal.

Based in Adelaide South Australia, we provide Australian Immigration advice to people and businesses from all over the world.

If you require further information regarding your Australia visa options you can contact us through:

(08) 8351 9956 or +61 8 8351 9956 or This email address is being protected from spambots. You need JavaScript enabled to view it.

Choosing to move to Australia is a very exciting decision – congratulations!  Now the question is, which visa is right for you?  If you are able to invest, the 188C visa otherwise known as the Significant Investor visa (SIV) may be right for you.  But what is it and how does it work?

CLICK HERE to know everything about the  Investor visa (SIV)

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1.     Why Would I Want the 188C SIV Significant Investor Visa?

The 188 Subclass is a group of visas for people looking to invest in Australia.  There are a number of visa types in this subclass which vary in their conditions based on the value of the investment made.  Compared to other business visas, the 188C has the following advantages:

• No upper age limit;
• No English language requirement;
• No points test;
• Able to bring eligible dependants (spouse/partner, dependent children up to 23 years old);
• No academic qualification requirement;
• No business management skills or fund management experience requirements;
• May be applied for from within Australia or outside Australia;
• Ability to extend visa (up to 8 years in total);
• Flexible residential requirement (you need only reside in Australia 40 days per year);
• Pathway to permanent residency.

Of course, the biggest attraction factor for many is that the 188C SIV offers successful applicants a direct pathway to permanent residency in Australia.

Work Visa Lawyers can help with your application for a 188C SIV Significant Investor visa.

2.     Who Can Apply for SIV Australia?

The 188C SIV Significant Investor visa is open to applicants with high assets and a high income, who are willing to make a AUD 5 million investment in Australia.

Key Criteria：

The applicant and/or their spouse must:

1. Have net personal assets of AUD 5 million;

2. Be nominated by an Australian state or a territory or the Australian Trade and Investment Commission (Austrade);

3. Be willing and able to make an investment of AUD 5 million into a complying significant investment fund.

3.     How Do I Become a Permanent Resident?

188C SIV Significant Investor visa holders are eligible to become permanent residents of Australia if they:

• Hold the AUD 5 million complying investment for 4 years;
• Either spend 160 days in Australia, or their spouse spends 720 days in Australia; and
• Are nominated by an Australian state or a territory, or Austrade.

Permanent Residency does not happen automatically though – you must apply for it!  At Work Visa Lawyers, we can help with this aspect of the visa process too.

4.     What Happens To the Money I Invest?

One of the most common questions we get asked about the 188C SIV Significant Investor visa is, “what happens to the money I invest?”  Once you have signed up, your money is invested into managed funds which the Australia Government identifies as being beneficial to Australia.  These are used to boost the national economy.

The investment is split into:

• AUD 500,000 in venture capital and growth private equity funds which will invest in start-ups and small private companies;
• AUD 1.5 million in approved managed funds which must invest in new companies listed on the Australian Stock Exchange; and
• a ‘balancing investment’ of at least AUD 3 million in managed funds.

The money must remain invested for at least 4 years, although it may be transferred to another complying investment during this period.

You remain the legal owner of the money during and after the investment period and if your investment grows, that growth belongs to you too (subject to Australian tax law).  Once the minimum investment period is complete, your investment is returned to you and you may use it as you wish.

Of course, as with any investment, there is a chance of financial loss.  You should always obtain advice from an experienced lawyer and an independent  financial advisor before making this kind of decision*.  Make an appointment with Work Visa Lawyers today to discuss whether this is the right visa for you.

*Work Visa Lawyers are not financial advisors and cannot provide you with financial advice – you should also speak with an independent financial advisor before making this decision.

5.     How Do I Apply For a 188C SIV Significant Investor visa?

If you meet the requirements in point 2, you can apply for a 188C SIV Significant Investor visa from anywhere in the world.  First, you will need to lodge an Expression of Interest (EOI) with either the state or territory in which you wish to reside, or with Austrade.  Work Visa Lawyers proudly recommends South Australia, but we can assist with your application to any state, territory or Austrade.  The state/territory or Austrade will assess your EOI and if you meet the criteria, they will nominate you for a Significant Investor 188C visa.  Once you are nominated, you will need to submit an application, complete with evidence that you meet the requirements.

To ensure your application is completed correctly and give you the best chance of success, you should engage an experienced immigration law firm like Work Visa Lawyers to draft and lodge your paperwork for you.

Applying from within Australia

If you are already in Australia and want to stay here while you wait for your 188C SIV Significant Investor visa application to be processed, you may need another visa for the duration, usually this will be a Bridging Visa.  There are 2 options depending on your situation.

-Bridging Visa A

Bridging Visa A (BVA) allows applicants to stay in Australia until a visa decision is reached. The BVA does not have a travel facility however, so should you wish to travel outside of Australia for any reason while waiting for your visa, you will need to apply for Bridging Visa B.

-Bridging Visa B

Bridging Visa B (BVB) allows applicants to leave and return to Australia whilst awaiting a decision on visa applications.  This visa is ideal if you have business or personal needs to attend to outside Australia, but wish to return.

Applying from Outside Australia

Applying from outside Australia is ok too!  Work Visa Lawyers has Immigration Lawyers and Registered Migration Agents available for consultation at a time that suits you via Zoom, over the telephone, or face to face in our Adelaide office.  Our staff speak many languages and we can arrange an interpreter if you would like one.

6.     Who Is Applying For the 188C SIV Significant Investor visa?

Since the launch of SIV program in November 2012, the bulk of applications originated in the following 5 main countries and regions, primarily in Asia.  This is in part due to Australia’s geographical proximity to Asia, but Australia is also an ideal location for lifestyle, universities and healthcare, global business, and financial security.

Applications were from:

• Mainland China, 84.8%
• Hong Kong, 5.1%
• Vietnam, 1.3%
• Malaysia, 1.2%
• South Africa, 1.1%

7.     Changes Are Coming Soon!

This article is correct at the date of publication but changes are coming! In April 2023, the Minister Clare O'neil confirmed that the Business Innovation and Investment Program will not be abolished. However, a radical restructure is needed to attract highly skilled people who will create the future jobs for Australians.

Author:

Wendy Guan, Registered Migration Agent at Work Visa Lawyers

Do you need help?

Our team of experienced Immigration Lawyers and Migration Agents look forward to assisting you with your Australian visa or appeal.

Based in Adelaide South Australia, we provide Australian Immigration advice to people and businesses from all over the world.

If you require further information regarding your Australia visa options you can contact us through:

(08) 8351 9956 or +61 8 8351 9956 or This email address is being protected from spambots. You need JavaScript enabled to view it.

You can also subscribe our Facebook: WORK VISA lawyers

SOURCES:

https://www.homeaffairs.gov.au/research-and-statistics/statistics/visa-statistics/work/significant-investor-visa

https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-innovation-and-investment-188