Recently, distinctive changes have been proclaimed by Australian Immigration Department which are expected to be implemented from 1st July 2012. According to recent announcements, the Business Skills Stream is relabeled as “Business Innovation and Investment Program”. Set of new subclasses are introduced in this plan which contains big assets and business turnover essentials. As per new subclasses, applicants need to apply business visa through Skill Select Scheme. Outline of New Scheme: This scheme is for business owners and several investors. The process consists of 2 phases. Initial phase solicits the applicant to get 4-year provisional visa. Main use of this visa is obtaining permanent residency in Australia once the business activities are well-functioned in the nation. Individuals who apply for subclass 132 visas need to put a momentous investment in Australian business. From 1st July 2012, the Business Migration Program will be a part of the Skill Select Scheme. Initially, it requires applicants to lodge an EOI (Expression of Interest). Then immigration department will evaluate and welcomes best applicants to apply for visa. State Nomination: New process needs state or territory nomination for all subclasses of business migration process. Each state will have certain limit of applicants to be nominated. New visa subclasses: From 1st July 2012, 3 business migration subclasses will be put into practice.
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