Australia's Business Innovation and Investment Program provides a pathway to permanent residency for investors, innovators, entrepreneurs and people with business skills and experience. However, the government has made some significant changes to these visas for the first time since the program's introduction.
- The number of visa streams and subclasses has been cut to four from nine.
- Applicants will need to satisfy a higher assets and turnover test for the Business Innovation stream.
- The requirement for $200,000 funding for the Entrepreneur stream has been scrapped.
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