The government of Queensland has introduced new criteria for the Business, Innovation and Investment Program that will come into effect from 25th July.
The changed criteria have been approved by the government which includes Subclass 132 Business Talent stream.
Under the new criteria, applicants will need to demonstrate net business and personal assets of AUD 1.5 million that must be transferred to Queensland within two years after the visa is granted.
Out of this, minimum $1 million is to be invested in a business and the remaining $500,000 goes towards the settlement cost. The applicant must reside in Queensland.
Australian Citizenship Source: AAP
Under Subclass 188 Business Innovation and Investment stream, an applicant will need to demonstrate net business and personal assets of $800,000 that must be transferred to Queensland within two years after the visa is granted.
This program requires an applicant to invest a minimum of $200,000 invest in a business, besides mandatory residence in Queensland. The same criteria also apply to the Investor steam visa.
Business and Skilled Migration Queensland (BMSQ) will start processing Expressions of Interest (EOI) for the new business and investor visa program from July 25th.
