The Morrison Government is reforming business and investor visas to maximise the economic benefits for Australia.
The Business Innovation and Investment Program (BIIP) will be simplified from nine to four streams and there will be changes to eligibility requirements. The number of places available in the BIIP has almost doubled from 6862 in 2019-20 to 13,500 places for 2020-2021.
The new program will be reduced to the below four streams:
The following BIIP streams will be closed for new applications from 1 July 2021 are (Applications already lodged for these visas will still be processed):