{"id":6118,"date":"2024-08-29T11:57:13","date_gmt":"2024-08-29T04:57:13","guid":{"rendered":"https:\/\/bluewisegroup.com.au\/?p=6118"},"modified":"2024-08-29T16:33:20","modified_gmt":"2024-08-29T09:33:20","slug":"biip-officially-closed-what-changes-for-applicants","status":"publish","type":"post","link":"https:\/\/bluewisegroup.com.au\/en\/biip-officially-closed-what-changes-for-applicants\/","title":{"rendered":"BIIP officially closed: What changes for applicants?"},"content":{"rendered":"<p data-padding=\"15px\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-6121\" src=\"https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/2024.0829-Update-BIIP-Eng-1200x676.png\" alt=\"\" width=\"1200\" height=\"676\" srcset=\"https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/2024.0829-Update-BIIP-Eng-1200x676.png 1200w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/2024.0829-Update-BIIP-Eng-2000x1127.png 2000w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/2024.0829-Update-BIIP-Eng-768x433.png 768w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/2024.0829-Update-BIIP-Eng-1536x865.png 1536w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/2024.0829-Update-BIIP-Eng-2048x1154.png 2048w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p data-padding=\"15px\"><span data-text-color=\"primary\">This morning, <strong>Thursday, August 29, 2024<\/strong>, <strong>the Department of Home Affairs (DHA) of Australia<\/strong> issued an important announcement to all investors under the <strong>Business Innovation and Investment Program (BIIP)<\/strong>. This announcement was also sent through migration advisors who represent the investors&#8217; applications. In this notice, the Department highlighted that the Australian Government announced the permanent closure of the BIIP on May 14, 2024, and will no longer be able to be lodged starting July 2024. This decision has understandably raised concerns among investors regarding their investment plans and pathways to permanent residency in Australia. However, the notice also confirms and provides additional information for investors, including:<\/span><\/p>\n<ul>\n<li><span data-text-color=\"primary\"><strong>For clients who have been granted a subclass 188 visa<\/strong>: For holders of subclass 188 visas: The closure of the BIIP will not affect the application process for the Business Innovation and Investment (Permanent) (subclass 888) visa, provided the investor meets all the necessary requirements. Investors holding a subclass 188 visa can still submit new applications to add family members under the Subsequent Entrants category or apply for the subclass 888 visa if they meet the required criteria. Additionally, if more time is needed to meet the business activity requirements, investors can apply for an extension under the subclass 188 Business Innovation Extension stream or the subclass 188 Significant Investor Extension stream.<\/span><\/li>\n<li><span data-text-color=\"primary\"><strong>For applicants who have submitted a BIIP application and are awaiting a decision<\/strong>: The closure of the BIIP will not impact the processing of these applications. Applications will continue to be processed in accordance with government priorities and migration program planning levels. This also applies to all dependent family members included in the visa application. Furthermore, starting September 2024, applicants will have the option to request a refund of the visa application charge (VAC) if they want to withdraw their application. Detailed information on how and when to request a refund will be provided on the Department\u2019s website. However, previously paid fees can only be refunded in very limited circumstances.<\/span><\/li>\n<li><span data-text-color=\"primary\"><strong>For applicants who have submitted extension applications under the BIIP<\/strong>: These applications are still being processed, and the closure of the BIIP will not affect the processing of these extension applications.<\/span><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-6131 aligncenter\" src=\"https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-01-1200x676.jpg\" alt=\"\" width=\"1200\" height=\"676\" srcset=\"https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-01-1200x676.jpg 1200w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-01-768x433.jpg 768w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-01-1536x865.jpg 1536w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-01.jpg 1640w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/>\n<p style=\"text-align: center;\" data-padding=\"15px\"><span data-text-color=\"primary\"><em>Notice from DHA to investors who have been granted 188A visa<\/em><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-6133 aligncenter\" src=\"https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-02-1200x677.jpg\" alt=\"\" width=\"1200\" height=\"677\" srcset=\"https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-02-1200x677.jpg 1200w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-02-768x433.jpg 768w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-02-1536x866.jpg 1536w, https:\/\/bluewisegroup.com.au\/wp-content\/uploads\/2024\/08\/Pic-02.jpg 1640w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p style=\"text-align: center;\" data-padding=\"15px\"><span data-text-color=\"primary\"><em>Notice from DHA to investors awaiting visa application review<\/em><\/span><\/p>\n<\/li>\n<\/ul>\n<p data-padding=\"15px\"><span data-text-color=\"primary\"><strong>On May 22, 2024<\/strong>,<strong> the Department of Home Affairs<\/strong> also announced that the government had reduced the planning level for the BIIP from 1,900 visas to 1,000 for the 2024-2025 financial year. The Australian Government is also considering a new visa category, the National Innovation visa, expected to launch at the end of 2024. This new program aims to attract innovative talents to Australia. The cessation of the BIIP is a result of research indicating that the program did not deliver the expected economic outcomes.<\/span><\/p>\n<p data-padding=\"15px\"><span data-text-color=\"primary\">In light of these changes in immigration conditions, <strong>Bluewise Group<\/strong> remains committed to assisting investors in meeting the requirements for their Australian residency pathway. With extensive experience in business acquisition and transfer consulting, business activity monitoring, and visa application preparation, we are dedicated to refining investor applications during this transition period.<\/span><\/p>\n<p data-padding=\"15px\"><span data-text-color=\"primary\">Contact <strong>Bluewise<\/strong> today to stay updated on the latest immigration information and to receive professional support and advice in business operations as well as on your journey to residency in Australia through the link <em><a href=\"https:\/\/forms.gle\/sWn8ftjDGi6roJMo6\" target=\"_blank\" rel=\"noopener\">https:\/\/forms.gle\/sWn8ftjDGi6roJMo6<\/a>.<\/em><\/span><\/p>\n<h2 data-padding=\"15px\"><span data-text-color=\"primary\"><strong>Contact Us<\/strong><\/span><\/h2>\n<ul>\n<li><span data-text-color=\"primary\">Bluewise Group | Bluewise Business Advisory | Bluewise Migration Advisory<\/span><\/li>\n<li><span data-text-color=\"primary\">Head Office: Liberty Plaza &#8211; Level 1, 28\/256 Chapel Rd Bankstown NSW<\/span><\/li>\n<li><span data-text-color=\"primary\">HCM Branch: 339\/10A Le Van Sy, Ward 13, District 3, HCM<\/span><\/li>\n<li><span data-text-color=\"primary\">Hotline: AU 0450 895 589 <em>(Zalo\/Viber\/WhatsApp)<\/em> &#8211; VN 1800 599 932 <em>(free hotline)<\/em><\/span><\/li>\n<li><span data-text-color=\"primary\">Email: <a href=\"mailto:bw@bluewisegroup.com.au\">bw@bluewisegroup.com.au<\/a><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>This morning, Thursday, August 29, 2024, the Department of Home Affairs (DHA) of Australia issued an important announcement to all investors under the Business Innovation and Investment Program (BIIP). This announcement was also sent through migration advisors who represent the investors&#8217; applications. In this notice, the Department highlighted that the Australian Government announced the permanent [&#8230;]\n","protected":false},"author":2,"featured_media":6121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-6118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australian-immigration-news"],"_links":{"self":[{"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/posts\/6118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/comments?post=6118"}],"version-history":[{"count":7,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/posts\/6118\/revisions"}],"predecessor-version":[{"id":6142,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/posts\/6118\/revisions\/6142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/media\/6121"}],"wp:attachment":[{"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/media?parent=6118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/categories?post=6118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bluewisegroup.com.au\/en\/wp-json\/wp\/v2\/tags?post=6118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}