【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.