New criteria for Queensland’s Business, Innovation and Investment Programme will come into effect from 25th July.
From Monday, those applying for the Australian state’s Business Talent stream will need to demonstrate net business and personal assets of AUS$1.5 million that must be transferred to Queensland within two years after the visa is granted.
Of this, AUS$1 million will need to be invested in a qualifying business, with the remaining AUS$500,000 going towards settlement costs. The applicant must also reside in Queensland.
Through the state’s Business Innovation and Investment stream, an applicant will need to demonstrate net business and personal assets of AUS$800,000 that must be transferred to Queensland within two years after the visa is granted.
This programme requires an applicant to invest a minimum of AUS$200,000 in a qualifying business, besides mandatory residence in Queensland.
There will also be changes made to the state’s skilled immigration programme.
A new Skilled Occupation List for Queensland state-nominated permanent resident visas and skilled regional sponsored visas also comes into effect on Monday.
To be eligible for Queensland skilled nomination, visa applicants must meet a minimum of two years’ work experience post qualification in their nominated occupation. Those seeking regional nomination must also have a job offer for 12 months in a regional area of Queensland in the nominated or closely related occupation.
Article published 22nd July 2016