【Visa News】28 Sep 2024 - BIIP Program Refund opens & International Student Cap CONTINUES!

Summary

In this Channel A video, host K discusses updates on Australian visa policies, particularly the closure of the Business Innovation and Investment Program (BIIP) and the anticipated National Innovation Visa. K advises viewers on whether to withdraw their BIIP applications for refunds and speculates on the new visa's investment requirements. Additionally, K addresses the housing crisis, its impact on international students, and the potential restrictions on their numbers. The video also touches on Canada's cap on international students and the broader implications for Australia's economy and upcoming elections.

Takeaways

• 🌐 The Business Innovation and Investment Program (BIIP) is closed, and applicants are encouraged to withdraw their applications for a refund.
• 📅 The new National Innovation Visa is expected to be introduced in either October or November.
• 💡 For those who have already lodged BIIP applications, it's recommended to keep them unless there's a strong dislike for Australia, as the old deal might still be better.
• 💼 The investment requirement for the new National Innovation Visa is speculated to be higher than the previous BIIP.
• 💵 There's no standard timeframe for processing refund requests; each will be assessed individually.
• 🏠 The housing crisis is being blamed on migrants and international students, leading to potential restrictions on international student numbers.
• 🇨🇦 Canada has further limited the number of international students, which might influence Australia's policies.
• 📉 The international education and mining sectors in Australia are facing challenges, which are significant as they are top export fields for the country.
• 🗳️ Upcoming elections in Australia could lead to policy changes that affect immigration and international students.
• 📚 The advice is to avoid taking vocational education and training (VET) courses as many institutions may close, and the refusal rate is high.

Q & A

What is the current status of the Business Innovation and Investment Program (BIIP)?

The BIIP has been closed, and letters have been sent out encouraging those who have already lodged applications to withdraw them for a refund.

What is the expected rollout time for the new National Innovation Visa?

The new National Innovation Visa is expected to be rolled out either in October or November, although the exact date is not confirmed until it is officially announced.

What is the advice for those who have already lodged a BIIP application?

It is recommended to keep the application unless there is a strong reason not to like Australia anymore, as the old deal is considered better than the expected new National Innovation Visa.

What is the minimum investment required for the 132 Visa?

The 132 Visa requires a minimum investment of one and a half million dollars.

Is there a standard timeframe for processing refund requests for the BIIP?

No, there is no standard timeframe for processing refund requests. Each refund request will be assessed individually.

What is the estimated refund amount for a family that has applied for the BIIP?

The estimated refund amount for a family is around $10,000.

How does the speaker view the current housing crisis and its relation to migrants and international students?

The speaker believes that the housing crisis is being blamed on migrants and international students, who are the largest bulk of temporary visa holders, and there is a push to restrict international students.

What actions has Canada taken regarding international students?

Canada has put a cap on international students and further limited their numbers by reducing study permits.

What is the potential impact of limiting international students on the Australian economy?

Limiting international students could significantly impact the International Education sector and mining, which are among the top export fields for Australia.

What is the speaker's advice regarding taking vocational education and training (VET) courses?

The speaker advises against taking VET diploma or certificate courses as they may waste time and money, and many institutions offering these courses may go under.

What is the speaker's prediction for the Australian political landscape in the near future?

The speaker predicts an awkward period between now and the first half of 2025 due to upcoming elections in Australia, which could shake up many things.

Outlines

00:00

🌐 Visa Update and Australia's Immigration Policies

The speaker, K, introduces the video as a source of updates on Australian immigration, specifically focusing on the Business Innovation and Investment Program (BIIP) which has been closed. Applicants who have already applied are encouraged to withdraw their applications for a refund. The speaker anticipates the introduction of a new National Innovation Visa in late 2024. They advise viewers to keep their existing applications unless they no longer wish to immigrate to Australia, as the old program might still be more favorable. The video also discusses the uncertainty around the timing of these changes, suggesting that they will be implemented without formal announcement. Additionally, there is mention of a lack of a standard timeframe for processing refund requests, which will be assessed on a case-by-case basis.

05:03

🏠 Housing Crisis and Its Impact on International Students

The second paragraph addresses the housing crisis and its attribution to migrants and international students in Australia. The speaker discusses the potential for Australia to follow Canada's lead in capping the number of international students, which Canada has further restricted. The implications of such restrictions are considered, including the impact on the international education sector and the economy, particularly since international education and mining are significant export fields for Australia. The speaker also touches on the broader geopolitical influences affecting Australia, such as those from Southeast Asia, China, Europe, and the US. The video concludes with advice against pursuing diploma or certificate courses from vocational education and training (VET) institutions due to high refusal rates, and an invitation for viewers to leave comments with further questions.

Keywords

💡Visa

A visa is an official document or endorsement that grants permission for a non-citizen to enter, leave, or stay in a country for a specified period. In the context of the video, the speaker discusses various types of visas, such as the Business Innovation and Investment Program (BIIP) visas, and the potential changes to these programs, emphasizing the importance of staying updated with visa regulations for those interested in immigrating to Australia.

💡Immigration

Immigration refers to the act of moving to a different country with the intention of residing there permanently. The video script discusses updates in the visa industry that directly impact immigration to Australia, such as the closure of the BIIP and the introduction of a new National Innovation Visa.

💡Business Innovation and Investment Program (BIIP)

The Business Innovation and Investment Program (BIIP) is an Australian visa program designed for investors and entrepreneurs who want to invest in Australia or start a business there. The script mentions that this program has been closed, and applicants are encouraged to withdraw their applications for a refund, indicating a shift in immigration policy.

💡National Innovation Visa

The National Innovation Visa, as mentioned in the script, is a new visa type that is expected to replace the BIIP. It is anticipated to have different requirements and is expected to be rolled out in either October or November. The term is central to the video's discussion on upcoming changes in Australian immigration policy.

💡Investment

Investment in the context of the video refers to the financial commitment required for certain visa programs, such as the BIIP, where applicants must invest a certain amount of money to qualify. The script suggests that the new National Innovation Visa might require higher investment criteria compared to the previous BIIP.

💡Refund

A refund, as discussed in the script, is the process of returning money that has been paid, typically when a service is not rendered or a product is not delivered. In the context of the BIIP closure, applicants who have already paid their application fees are offered refunds, which is a significant point of discussion regarding the financial implications of policy changes.

💡Migration Agent

A migration agent, or immigration consultant, is a professional who provides advice and assistance with immigration processes. The speaker in the video script identifies as a migration agent, offering insights and updates on visa regulations, which underscores the importance of professional guidance in navigating complex immigration procedures.

💡Housing Crisis

The housing crisis refers to a situation where there is a shortage of affordable housing, often leading to increased prices and homelessness. The script mentions a housing crisis and its association with migrants and international students, suggesting that these groups are sometimes blamed for housing shortages.

💡International Students

International students are non-citizen students who come to another country to pursue education. The video script discusses the potential restrictions on international students in Australia due to housing and other crises, indicating a broader impact on the education sector and Australia's economy.

💡Election

An election is a formal process by which people choose their representatives in government. The script hints at upcoming elections in Australia and the United States, suggesting that political changes could significantly impact immigration policies and the economy, including sectors like international education and mining.

💡Export

Export refers to the shipping of goods produced in one country to another country. In the video, export is mentioned in the context of Australia's economy, particularly the international education and mining sectors, which are significant contributors to the country's export revenue.

Highlights

The Business Innovation and Investment Program (BIIP) has been closed.

BIIP applicants have been encouraged to withdraw their applications for a refund.

A new National Innovation Visa is expected to be introduced in October or November.

There is no standard timeframe for processing refund requests for BIIP.

For those who have already lodged a BIIP application, it might be better to keep it as the old deal could be more favorable.

The investment requirement for the new National Innovation Visa is suspected to be higher than the previous BIIP.

The 188 and 132 visas are still being processed and might offer a better deal than the upcoming National Innovation Visa.

The investment requirement for the 132 Visa is significantly lower at only one and a half million.

There is a discussion on the housing crisis, with migrants and international students being blamed.

Canada has put a cap on the number of international students and further restrictions are being considered.

Australia may follow Canada's lead and enforce a cap on international students.

The international education and mining sectors are significant export fields for Australia.

A potential decline in international education and mining could significantly impact Australia's economy.

The upcoming Australian election in 2025 may bring changes that affect the immigration landscape.

It is advised not to take VET diploma or certificate courses as they may not be worth the investment.

TAFE courses, being government-owned, might still be a viable option despite the high refusal rate.

The presenter encourages viewers to leave comments for further questions.

Transcripts

welcome to Channel A your inside toos

friend Visa

[Music]

system good day everyone my name is k

your online YouTube Visa consultant are

you interested in immigrate to Australia

why don't you consider to subscribe to

my channel and turn on the Bell on the

side so once about all the updates and

news You' be the first one getting all

the Insight now today's video I will

like to uh get some updates about what's

going to happen and what's already out

there just some news update on the

industry of Visa if you're really

interested about it uh now first of all

it's about the bip the business

investment Innovation program which

obviously has been closed and they have

sent out all the letters to everyone in

regards that if you have already

launched previously well they just

encourage you to what to withdraw and

they will refund your money back now is

that a good thing to do well uh I think

uh when this is out uh it's definitely

something that is ready so the new

so-called National Innovation Visa uh is

ready to be roll out I believe that will

be either October or November now people

ask uh whether it's going to be October

or November well we will never really

know until uh the government or the

minister to come out to you know just

announce it but usually they don't they

just let things roll out now even with

this message that you're looking at uh

they don't announce it they just you

know

secretly uh publish on the website so uh

if you're not like me like us uh

continually um doing you know research

and checking things out uh in the

Australian immigration website then you

probably won't even no so anyway if you

have already lodged your bib that's

including the one8 and 132 visa and the

Visa has not been finalized well you

have a choice to withdraw now obviously

some people I will still

recommend unless you really you know you

don't you don't like Australia anymore

but uh I'll still recommend you keep it

yeah you keep it uh cuz they were still

processing it because the old deal is

still a better deal I believe because

the national Innovation Visa came out um

look is it going to be a better deal I

don't think it would be better

especially like the 1A where you could

have a a business set up or 132 Visa

which only require one and a half

million for investment now one and a

half million is really nothing nowadays

uh so it's really the the the comparison

will be huge now there is a time frame

let me have a look look uh in regards

when you can actually here here we go

it's a refund time frame there is no

Standard time frame for processing

refund request uh we will assess each uh

refund request individually so that

there's no period of time required so

you could uh you could continue to wait

you know uh and then uh if you if you

see the national Innovation visa to be

more uh better uh you know choice or

options perhaps uh maybe we don't no uh

but I suspect that the requirement even

if the national Innovation Visa come out

with the certain requirement for

investment uh criteria I suspect it will

be much higher than the previous W8 uh

program the bit program because if it

stays the same uh then why on Earth they

going you know they are removing big

know big program right so anyway uh

let's see how it goes there is unless

you already got some other Visa

um approval granted then those will be

uh the client or you know friends that I

advise that you you know withdraw and

get your money back cuz it's some you

know some good money in there anyway I

think will be uh usually for a family

will be almost around um uh 10 $10,000

yeah I think that will be for a family

anyway that's for that news then now the

other one is it's not quite about

Australia but uh you see we have have

been cooking the topic about the housing

crisis as you know uh and then uh all

the blames goes on to the migrant and

then further goes on to the uh

international student cuz all the

migrants international student is the

largest bulk uh of the overseas uh you

know people the temporary Visa holders

so they are they they want to restrict

uh International students now obviously

there has been a lot of talks a lot of

complaint a lot of crap going on from

both side people still complaining and

from the uh the educational sector

everybody is saying look the the the

government has made the wrong decisions

uh so on so forth now uh I think this is

last week the Canada we know Canada is

the first country that they put an

enforc a cap on International students

now they have put a further restrictions

so Canada further limits international

student number Canada putting a further

limits on the number of international

studies issue reducing study permit to

437 now that's doing lot more than uh

Australia but uh as this kind of stuff

continue to go on um what does that tell

us that

basically uh they will tell the

government of Australia that they will

enforce the cap on international student

for sure I know there has been a senate

a more hearings and things going now

uh within the sector uh but a certain

cap I think will still continue this is

just one of the side effect uh after the

pandemic I I don't think uh country like

Australia or similar to Canada Canada

just has a bigger appetite because they

have you know bigger economy and

population there too uh they they just

need more time to get the you know the

economy back you give you an example you

know uh you probably have a restaurant

with 100 seats

now uh your your investors into this

restaurant are questioning you that well

why don't you fill up all the seats so

you make the most of the you know uh the

business out of whatever you require but

the problem now the problem now is that

there's not enough Cooks there's not not

enough chefs inside of the kitchen even

we got 100 people there we cannot

service I think that's where the problem

is that's not even just uh the housing

issue I think it goes into more

complexity uh in regards uh however it's

if they hit the International Education

sector it's definitely going to be a

huge hit plus uh the mining sector is

not doing well in Australia and you know

uh International Education Plus mining

is the largest you know the the top four

or five uh largest export uh field uh

for Australia so export you know export

means how the country makes the money so

if they have the lot the TP four or five

category of exports going under uh then

obviously that will have a huge shake up

now it's going to be a test uh for the

next election whether I I I understand

opposition is calling for early election

uh it you know just to be safe I don't

if early election doesn't happen uh it's

going to happen in May next year so uh

it's going to be exciting and uh I don't

know if exciting is the right way to

describe it but it's going to be a very

very uh awkward period of time between

now and next U you know second uh first

half of 2025 cuz us is having election

and that will shake up a lot thing in

the world I mean a lot of people talking

about why are you talking about us and

Canada I mean

geopolitics is still affecting Australia

because Australia is not a superpower in

fact it's has been affected by a lot of

other superpower and economies for

example southeast Asia for example China

for example Europe and US It's all

affecting Australia so anyway uh that's

what's going to happen and just remind

everybody because of the cab

International still will continue to go

on I will still recommend not to take

any vet diploma certificate courses

that's going to waste your time waste

your money h and a lot of those

institution will actually go under now

people may ask can I pick tave because

that's a public and the government owned

institution yes you can yes you can but

it's still the the ratio of getting

refusal is still very high anyway should

you have more question qu more than

welcome to leave comment right down

below and I'll see you next video

goodbye