I'm an investor from Europe. Since the old visa categories like Premium Investor would remain open until July 2021, would it make sense to keep availing the old streams instead of the recently announced four visa streams, which in some cases require higher business assets threshold?
If you apply and lodge your business and investor applications before the new regulations have been changed, and receive your immigration file number, you will not be affected by the new regulations. The new application process will be applied after July 2021.
Any application lodged before July 1, 2021, including the Premium Investor visas will be processed under the existing regulations. Therefore, it would be advantages to apply before July 1, 2021, if you are able to satisfy the current requirements.
It makes more sense to apply for the old streams.
The new announcement of visa streams does not affect those who applied prior to July 1, 2021. All prior conditions for present visa holders and those who apply before that date will remain as per the current status. There are very few who have applied for the Premium Investor stream which requires the ability to put out a minimum of $15 million investment to qualify. This stream will be closed from July 1, 2021. The business visa program will be revamped to meet the needs of the Australian economy and attract migrants with proven business skills, which was why the current streams were changed to reflect higher thresholds of investments and benchmarks for net assets/turnover achievements. Therefore, four of the five 'old streams' are still retained, but will undergo a change of criteria.
The current business visa streams remain open to new applicants until July 1, 2021. It is still possible to apply if you meet the current criteria for the visa stream you choose. The Premium Investor visa 188D has not been a popular choice and the process involves an invitation from (the government agency) Austrade to apply, making it very elite and not available to all applicants. This 188D category is, therefore, not recommended to our clients. If planning to apply under the current Business visa regime you should start the process very soon as the state government quotas will be filled long before July.
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