Business skills: 132 visa closing 1 July 2021; Innovation visa to require at least $1.2 million net assets and $750,000 annual turnover; SIV shake-up coming?

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Business skills: 132 visa closing 1 July 2021; Innovation visa to require at least $1.2 million net assets and $750,000 annual turnover; SIV shake-up coming?

Major changes to Australia’s Business Innovation and Investment program (BIIP) will see the Subclass 132 – Business Talent visa closed to new applicants, visa extensions streams grants reduced, and minimum thresholds for a 188 visa under the Business Innovation stream increase with net assets of at least $1.2 million and business annual turnover of at least $750,000 from 1 July 2021.

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2020-21 Planning levels: GSM visas down more than 55 per cent, “Bespoke” occupation list uncovered

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2020-21 Planning levels: GSM visas down more than 55 per cent, “Bespoke” occupation list uncovered

The 2020-21 planning levels have been released. The full allocation and their differences compared to last year are assessed. GSM visas take a nosedive with 189 visa places down more than 60 per cent. The “bespoke” occupation list for the targeted invitation rounds of May and June 2020 has been uncovered. The acting Minister has also clarified partner visa English requirements.

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2020-21 Budget: Planning levels remain at 160,000; Partner visa places up 82 per cent, sponsor framework and English language tests soon

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2020-21 Budget: Planning levels remain at 160,000; Partner visa places up 82 per cent, sponsor framework and English language tests soon

The Federal Budget handed down last night came with a number of surprises to Australia’s permanent migration programs. Of note is the prioritisation of certain skilled visas and onshore applicants and a one-off boost to partner visa processing numbers. Partner visa applicants and some sponsors will need to meet English language requirements along with an increase in requirements to be a sponsor.

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