Subclass 188 – Invest in Australia in the New Year 2021

by XIPHIAS IMMIGRATION migration executive

Investments have always been a requirement for high net worth individuals who believe in growing their wealth through investment in different kinds of businesses across the globe. Most countries provide residency for the HNIs in exchange for the investment made in the country. Australia has for long been inviting HNIs to invest in a business in Australia. They always provided limited number of applications. In the year 2021, Australia intends to increase the cap for the number of applicants for Business Investment Immigration PRs. The main intention to do this is to improve the economy of the country and also ensure constant funding for the organizations in Australia.

HNIs who intend to invest in Australia, can take up this opportunity. With this program, the HNIs can earn Permanent Residency in Australia leading to Citizenship in 4 to 5 years period. The HNIs can choose one of the below streams to invest in Australia. This program was established to invite skilled businessmen to either establish a new business in Australia or take up an existing business in the country. This program requires that the applicant is nominated by one of the states or territory governments of Australia. Australia is also accepting applications for skilled professionals through their Australian Skilled Immigration Program.

Who can apply for the program –

1. Individuals who are between the age of 18 and 55 years

2. The individuals should have cleared English language test as per the standards of Australian immigration

3. The applicant should have a minimum bachelors’ degree. If the applicant has a masters in the Business administration stream, that would be a plus.

4. Any other certification or knowledge is considered

5. The applicant will have to submit their experience in any of the fields possible. Australia has opened its doors for businessmen in the below categories –

i. IT field

ii. Digital technology

iii. Health & Life science

iv. Agri-field

v. Energy

vi. Circular economy

vii. Priority Precincts

6. Applicants should be able to prove their experience in one of the above streams which should have been gathered within 10 years just prior to the submission of application

The applicant can engage in Export business activity. Business must contribute to the economy of Australia. The product into which the investment is happening should be innovative in nature.

They will have to submit a business plan in the similar manner as any other Business Investment Immigration Program. However, the businessman is at freewill to change his business or invest in a different business once he successfully obtains the Business PR.

Application process –

The applicant will have to first submit their Expression of Interest (EOI) into the Skill Select portal. In the EOI, the applicant can mention his desired destination. The applicant can mention multiple destinations.

The applicant will then have to submit their application as would be required along with supporting documents. This includes business experience documents, education certificates, and language test results, among others. Any document that could help strengthen the application should be submitted.

The program requires that the applicant lives in Australia to actively participate in the day to day running of the business there.

One of the important factors that the business investor should be considering is partnering with the right immigration firm to help them take the right decisions in terms of investments in the country. There could be number of decisions to be made to arrive at the right investment option. XIPHIAS Immigration is one such firm which can help investors relocate to Australia. They are registered with Migrations Agents Registration Authority and thus they get first hand update of the investment immigration news updates for Australia. They are also partnered with multiple business houses.