Department of Immigration and Border Protection (DIBP) seeks Public View on Business, Investment and Talent Visa Programs
DIBP is conducting a review of Business, Investment and Talent Visa Programs and is seeking valuable contribution from Australian public for the program.
The Review of the program shall enable DIBP to examine
- The Business Innovation and Investment visa programme (BIIP) (subclasses 188, 888, 132
- The Distinguished Talent (DT) visa programme (subclasses 124, 858)
- The Investor Retirement (subclass 405) visa
DIBP is considering the review to evaluate that whether the program objectives are achievable and suitable. The objectives for the respective programs are listed below.
- BIIP – to attract migrants who contribute to the growth of the Australian economy through innovation, investment and business, by:
- generating employment
- increasing the production and export of Australian goods and services, competition and
- commercial activity
- introducing new or improved technology
- developing links with international markets.
- DT – to attract people who are internationally recognised for their outstanding achievements who will be an asset to the wider Australian community.
- Investor Retirement – to attract people of retirement age who will make significant contributions to Australia through investment in state and territory government bonds.
DIBP has also provided the consultation questions under the visa framework for the Australian Public to consider while submitting the reviews. These questions are not exhaustive but only indicative of the Department’s scope of review.
The questions as has been posted by the department are as follows
- What kind of people does Australia and should Australia aim to attract through its business, investment and talent visa programmes?
- Are the objectives of Australia’s business, investment and talent visa programmes aligned with what Australia needs?
- How well do the current programmes enable Australia to target and attract the best business migrants, entrepreneurs, investors and talented individuals who will make a valuable contribution to Australia?
- How would you construct business, investment and talent-based migration programmes to attract the highest quality business people, entrepreneurs, investors and people with distinguished talents to Australia?
- What are the pros and cons of setting age limits for business, investment and talent migration?
- Should business, investment and talent visa applicants be required to demonstrate English language skills? Why or why not?
- What impact does and should state and territory government nomination have on selecting business and investment migrants? Why?
- How effective is the innovation points test at selecting innovative business and investment migrants?
- What are the pros and cons of the following visas?The Significant Business History stream of the Business Talent (Subclass 132) visaThe Venture Capital Entrepreneur stream of the Business Talent (Subclass 132) visa
The Business Innovation stream of the Business Innovation and Investment (subclasses 188 and 888) visa (and the associated extension stream)
The Entrepreneur stream of the Business Innovation and Investment (subclasses 188and 888) visa
The Investor stream of the Business Innovation and Investment (subclasses 188 and888) visa
The Significant Investor stream of the Business Innovation and Investment (subclasses188 and 888) visa (and the associated extension stream)
The Premium Investor stream of the Business Innovation and Investment (subclasses188 and 888) visa
The Investor Retirement (subclass 405) visa
The Distinguished Talent (subclasses 124 and 858) visa.
Should the VCPE component of the CIF be increased from $500,000 to $1 million? Why or why not?
What would be the likely impact on demand for the SIV if the VCPE component were increased?
Is there sufficient absorptive capacity in the Australian venture capital market to manage this increase?
If the VCPE component increases to $1 million, should the Emerging Companies or Balancing Investment components reduce by $500,000 to compensate? Why or why not?
The submissions can be sent to the department by close of business day on July 31, 2017. The complete text of the department notification can be found here.
In case you have any queries related to Australian Business and Investment Visas, feel free to contact us