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According to Australian Department of Home Affairs figures released this week, a total of 11,198 Business Innovation and Investment Program (BIIP) applications were approved in the 2020-2021 financial year, an increase of 153 per cent from the previous year. fiscal year 2019-2020 and is 54% higher than before the COVID-19 pandemic.
The strong increase was not unexpected; In October 2020, Immigration Minister, Alan Tudge, announced the number of visas granted to the BIIP had nearly doubled, from 7,260 to 13,500 as part of a broader economic recovery plan for Australia.
BIIP is an Australian immigration program for entrepreneurs and investors. In which, the most popular are the branches:
In the BIIP, applications for the Business Innovation Subclass 188 visa (subclass 188A) accounted for the largest percentage of approvals. Both the Investor and Significant Investor streams saw their 188 visa application approvals more than double over the period.
The number of approved applications from Vietnam increased from 163 for the period of 2019 - 2020 to 1,828 for the period of 2020 - 2021, which is considered the highest ever. The Australian Government is calling for investors from around the world to come to Australia to invest and do business, so the approval policy is quite easy compared to previous years.
If you are interested in learning more about the Australian 188 visa application, including subclass 188A, 188B, 188C and 188E, please contact iCanfield using the information below.
iCanfield Vietnam Immigration & Study Abroad Consulting Company
Address: 93 Nguyen Du, Ben Nghe Ward, District 1, HCMC
Hotline: 028.3822.0285
Call 028 3822 0285 If you need a quick consultation
