South Australia is slated to state open nominations for Subclass 188 (Business Innovation and Investment (Provisional)) visa from July 20, 2021. It’s meant to attract business owners or investors who are ready to invest in South Australia.
The Subclass 188 visa is a pathway that’s just 2 steps away from Australia PR. You can apply for Subclass 888 (Business Innovation and Investment (Permanent)) after staying in Australia on the Subclass 188 visa for 3 years.
Streams for Subclass 888 visa
- Business innovation
- Significant investor
Once the Subclass 888 visa is approved you can live in Australia as a permanent resident. You will also be given exemption from travel restrictions with the permission to enter and exit Australia freely.
The process has changed!
Earlier, applicants for Subclass 888 needed to first submit their ITA (Intent to Apply) form. They also had to make a visit to Australia to explore the state before applying for a nomination from the state with the eligibility to do so.
Now, the changes for the 2021-22 program year have lifted the need for applicants to submit their ITA forms. Neither are the applicants required to do an exploratory visit before applying for a nomination.
Also, applicants unable to travel owing to the COVID-19 restrictions or a refusal of visitor visa are no more required to do virtual exploratory visits.
Assessment of nomination applications for Subclass 188 visa
- The assessment will be done in 4 quarterly periods for the program year 2021-22.
- The following are the dates slated for the assessment quarters:
- Round 1: August 2, 2021, to September 24, 2021
- Round 2: October 25, 2021, to December 17, 2021
- Round 3: January 31, 2022, to March 25, 2022
- Round 4: May 4, 2022, to June 24, 2022
More BIIP (Subclass 188) visa facts
- Access to the application for the entrepreneur stream will be available in August 2021.
- The applicant will have to demonstrate a total net business as well as personal assets for each visa stream.
- The BIIP pipeline for Australia has grown from 23,223 applicants (2019-20) as of June 30, 2019, to 31,661 applicants in June 2020.
- 1,000 places are allocated to South Australia for BIIP for the region.
If you are looking to Study, Work, Visit, Invest, or Migrate to Australia, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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