On 09/05/2023, the Australian Department of Home Affairs announced the quota for the nomination of the immigration program for the 2023-2024 fiscal year to be set at 190,000. In which, the allocation target for the Business Innovation and Investment Program (Subclass 188/888) is 1900, which is greatly reduced compared to 2022 – 2023 (5000).
The quota for the investment residency program for the 2023-2024 fiscal year is very limited, constituting only 1% of the total number of nominated quotas. This reflects that Australian states, especially those with high immigration targets, will significantly increase their requirements in the sponsorship criteria.
With this change, the current time is the right opportunity for Entrepreneurs & Investors to gather information and prepare documents to be able to decide on the earliest time to apply, aiming to secure the 188 provisional visa promptly.
The Business Innovation and Investment Program (Subclass 188/888) allows you to become an Australian permanent resident through business or investment in Australia. After 3 to 4 years of effective business investment, you can apply for a 888 Visa to become an Australian permanent resident.
The Vietnamese community is currently one of the largest ethnic communities in Australia, ranking second in the group of immigrants from Southeast Asian countries. Vietnamese is also the third most common language in Australia. This signifies the growing presence of the Vietnamese community in Australia, which will be an advantage for Vietnamese settling in Australia.
With a team of knowledgeable and experienced staff in immigration consulting and efficient handling of client documents, Bluewise Migration Advisory has been and continues to advise, evaluate documents, and provide free pathways for customers to help them get the necessary information about the Australian investment and settlement path.
Beyond offering consultation and supporting Australian residency applications, with over 10 years of specialized experience in effective business investment consulting. The Bluewise Group continues to accompany customers on their journey to obtain the 888 Visa and become an Australian permanent resident
If you are currently exploring and still vague about the Land Down Under, register now for consultation, and Bluewise will help you expedite the process to timely apply for the investment residency program for the 2023-2024 fiscal year.
Register for consultation here: https://bit.ly/3LRY7SZ
Contact Info:
- Bluewise Group | Bluewise Business Advisory | Bluewise Migration Advisory
- Head Office: Liberty Plaza – Level 1, 28/256 Chapel Rd Bankstown NSW
- HCM Branch: 339/10A Le Van Sy, Ward 13, District 3, Ho Chi Minh City
- Hotline: AU 0450 895 589 – VN 1800 599 932
- Email: bw@bluewisegroup.com.au