Update on the Business Innovation and Investment Program (BIIP) and the Subclass 188 Visa 2024-25
The Business Innovation and Investment Program (BIIP) permanently closed to new applicants on 31 July 2024. Many are wondering about the status of their lodged and pending applications to the Department of Home Affairs (DoHA) before the closure. DoHA has confirmed that Subclass 188 visa applications will continue to be processed according to government priorities and Migration Program planning levels.
What are the Main Updates for BIIP Visa Programs?
The allocation for the BIIP has been reduced to 1,000 visas for the 2024-25 program year. As of 31 December 2024, about 12,778 subclass 188 visa applications remain in the processing queue, resulting in a substantial backlog.
What can I do Next for My Pending Subclass 188 Visa Application?
Given the reduction in the annual visa allocation and the existing backlog, those with pending Subclass 188 visa applications can expect processing times to increase.
Applicants may choose to continue waiting for a decision on their application, knowing the increase in processing times.
Alternatively, applicants can withdraw their Subclass 188 application if they no longer wish to proceed.
How do I Request a Refund for the Application Charges?
For those who decide to withdraw their Subclass 188 visa application after 31 July 2024, they may be eligible for refunds for the Visa Application Charge (VAC). Refunds are only available for applications under these streams:
Business Innovation stream
Investor stream
Significant Investor stream
Entrepreneur stream
Applications under the Business Innovation Extension or the Significant Investor Extension streams are not eligible for refunds.
How Can Agape Henry Crux Help
If you wish to determine if you are eligible for other visa pathways to meet your objective in Australia, we highly recommend that you schedule a time with an immigration lawyer at Agape Henry Crux for professional advice. The team specialises in handling highly complex matters and works together with 2 of our Accredited Specialist Immigration Lawyer(s). You can schedule an appointment with one of our lawyers or agents to seek professional advice by calling 02-8310 5230 or emailing us at info@ahclawyers.com.
We speak fluent English, Mandarin and Cantonese. We can also help you arrange an interpreter if this isn't your language.
This article/presentation (“publication”) does not deal extensively with important topics or changes in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you find this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances, please contact our office.
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