The Department of Home Affairs has previously announced that from 1 July 2021, there are changes to the Business Innovation and Investment Program (BIIP).
From 1 July 2021, the new ratios of the Complying Investment Framework (CIF), which applies to the Investor stream (188B) and the Significant Investor stream (188C), will see the changes below:
- 20% of venture capital (VC) and private equity funds (PE)
- 30% of emerging companies funds
- 50% of balancing investments
Other key changes from 1 July 2021:
- For the Business Innovation stream (188A), the investment amount rises from $800k to $1.25 million, and the annual turnover to prove business acumen rises from $500k to $750k
- For the Investor stream (188B), the investment amount rises from $1.5 million to$ 2.5 million
- For the Significant Investor stream (188C), the investment amount remains the same at $5 million
- Investment in VC/PE increases from 10% to 20%, with a further 30% focus on emerging companies
- Other balancing investments decrease from 60% to 50%
The Government claimed that these changes are an attempt to “get a better deal for Australia”. However, for potential visa applicants, this means that the entry threshold for the program is now higher.
At Red Earth Migration, together with our sister company, Business Mantra, our team is experienced in handling BIIP applications as well as advising on wealth management. Contact us if you are interested in investing in Australia!