
Australia has always been one of the top destinations for immigrants, particularly for applicants who hope to obtain permanent residency through investment pathways. Programs such as the 188A Business Innovation and Investment Visa, 188B Investor Visa, and 188C Significant Investor Visa are popular among wealthy immigrants.
188 Visa Categories
Among the 188 investment visas, the 188A visa has a relatively low threshold, with a more relaxed review process, lower investment requirements, and greater flexibility.
The 188B visa, designed for professional investors, requires an investment of 1.5 million AUD to secure permanent residency in Australia.
The 188C visa, on the other hand, does not have age, educational, or business experience requirements, nor does it require immigration points. By investing 5 million AUD into a government-designated project and holding it for four years, applicants can obtain permanent residency in Australia. As a result, this visa category has attracted many investors who wish to quickly secure an Australian green card.
Immigration Policy Tightening
With the number of immigrants reaching new highs, the Australian government has recognized the issues brought about by the influx of immigrants, such as rising domestic property prices and inflation.
Minister for Home Affairs Clare O'Neil pointed out that the investment migration program has been abused by some wealthy individuals and has not brought significant social and economic benefits to Australia.
She emphasized that the government should focus on attracting immigrants who are willing to live, work, and integrate into Australian values for the long term, rather than just injecting capital. Therefore, the Australian government has decided to tighten investment migration policies and will close the 188 visa categories in July 2024.
New Visa Program: Adjustments to the Skilled Migration Pathway
The Australian government recently launched a new temporary skilled visa to attract and retain skilled workers to address labor shortages.
According to the Department of Home Affairs' announcement, the Skilled Immigration Demand Visa (SID) came into effect on December 7, 2024, replacing the previous Temporary Skill Shortage Visa (TSS, subclass 482). The new visa updates the core skills occupation list, adding hundreds of new occupations, providing a clear pathway for migrant workers to help address Australia's labor shortage.
In addition, the government also announced other new visas, such as the National Innovation Visa (NIV), which will replace the Global Talent Visa. Applicants must meet internationally recognized qualifications in a specific field to apply, and the review process will have a priority order.
Conclusion
The previous route of obtaining Australian permanent residency through financial investment is no longer viable. In its place, there is now a greater focus on immigration visas that emphasize skills and innovation. The newly introduced Skilled Immigration Demand Visa and National Innovation Visa will help address Australia's current labor shortages while attracting high-skilled talent that aligns with local development needs. Stay tuned for the next article, where we will provide a detailed exploration of these two new visas.
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