Breaking news!The application requirements for the investment immigration visa in Victoria, Australia, have undergone significant adjustments, which will take effect on January 4, 2021. The specific adjustments are as follows (the new requirements apply to new applications submitted after January 4, 2021):
Changes to the 188A Visa Application Requirements
1. Age requirement: Not exceeding 55 years old;
2. Language requirement: English proficiency must reach a minimum score of 5 in each component of the IELTS test;
3. Educational requirement: Must hold a bachelor's degree or higher. The undergraduate major must be in engineering, technology, mathematics, medicine, science, or other engineering-related fields; if in business, a postgraduate (MBA) degree is required;
4. Business experience requirement: If the applicant cannot meet the educational requirements, they must have at least 3 years of business operation experience in the following limited business fields: digital technology, advanced manufacturing, health and life sciences, agricultural food, new energy and emissions reduction, circular economy, designated priority areas;
5. Business plan requirements: The proposed business in the business plan must contribute to innovation in Victoria, either through product innovation or process innovation. If the applicant plans to engage in export business, they must demonstrate that the business contributes to the economic development of Victoria and must not engage in "grey market" or "parallel export";
6. Permanent residency transition requirements: The applicant must employ 2 full-time employees for a continuous period of 24 months prior to submitting the 888 visa application; full-time employees must work continuously for more than 30 hours per week within the 24 months; if the turnover is not less than AUD 1 million in any 12-month period within the 24 consecutive months prior to the application for the 888 visa, the requirement to employ staff can be waived.
Changes to the 188B Visa Application Requirements
The scoring requirement has changed: the applicant's EOI score has increased from 65 points to 95 points.
Changes to the 132A Visa Application Requirements
1. The applicant must invest AUD 2 million in Victoria within 2 years after obtaining the visa.
2. The business in which the applicant invests must provide additional economic contributions to Victoria.
3. The business activities engaged in by the applicant must align with one of Victoria's strategic planning directions: digital technology, advanced manufacturing, health and life sciences, agricultural food, new energy and emissions reduction, circular economy, designated priority areas.
4. If the applicant's business activities involve real estate development, the following additional requirements must be met: relevant qualifications and experience (such as construction, engineering, project management) are required. Extensive experience can substitute for qualification certification; a minimum capital investment of AUD 2 million, excluding the cost of land purchase; development activities must not be small-scale project-based real estate development.
5. A new supervision period requirement has been added, during which the Victorian government will conduct a business assessment of the applicant's business activities every six months within 24 months after the applicant obtains the visa. The government will conduct written inquiries and on-site inspections of the applicant's business investment activities.
6. The applicant must employ 5 full-time employees for a continuous period of 12 months before the supervision period, with each employee working at least 30 hours per week continuously. Full-time employees must be Australian citizens, holders of Australian permanent residency visas, or holders of New Zealand passports, but must not be family members of the applicant.
Victoria has always been a favored immigration city for investors, with a high number of applicants each year. The increase in the investment immigration application threshold in Victoria once again illustrates a principle: immigration should be done early! For investors intending to immigrate to Australia, it is advisable to act quickly, as early applications yield early benefits!
Currently, in addition to popular programs such as the 188A visa, 188B visa, and 132A visa, the 188C visa is also favored by high-net-worth individuals from China. Once applicants meet the relevant conditions, they can apply for family immigration to Australia and enjoy Australian medical benefits. After obtaining Australian citizenship, children can enjoy high-quality education and gain broader overseas development opportunities.
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