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Parliament seeking ways to boost business and investment visa uptake

 

Concerned with the low rates of applications for sc188, sc888 and sc132 visas, a parliamentary committee is calling for submissions on how it can boost the programme's uptake.

Federal Parliament's Joint Standing Committee on Migration is set to examine the Business Innovation and Investment Programme (BIIP).

The BIIP is designed to increase entrepreneurial talent and diversify business expertise in Australia.

In a parliamentary statement issued on 20 March 2014, Committee chair Louise Markus said skilled migration is a key component of Australia's migration system.

"It is important to encourage the creation of genuine and sustainable business opportunities that will generate economic growth, benefiting both the Australian economy and workforce," she said.

"As part of the inquiry, we will be focusing on whether the BIIP is meeting its objectives."

The committee will also focus on:
• conditions involved in the decline in rates of application for the BIIP, in light of rates of application for the previous Business Skills Programme.
• current eligibility criteria, with particular regard to the operation of the BIIP points test, and its effectiveness in selecting suitable migrants.
• weighing the size of the current programme against the emphasis placed on other elements of the skilled stream of the migration programme in generating economic growth.

The BIIP is comprised of three visa subclasses: Business Innovation and Investment (Provisional)(188); Business Innovation and Investment (Permanent)(888); and Business Talent (Permanent)(132). The Significant Investor Visa stream is subject to a review by the Department of Immigration and Border Protection and as a consequence will not be included in this inquiry.

The committee has called for submissions from particularly those who have participated in the BIIP. The committee will accept submissions until Friday 2 May 2014.


Further details about the inquiry, including how to make a submission, can be obtained from the
committee's website at http://www.aph.gov.au/mig or by contacting the committee secretariat on
(02) 6277 4560 or emailing This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

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