【Visa News】28 Sep 2024 - BIIP Program Refund opens & International Student Cap CONTINUES!
Summary
TLDRIn 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
🌐 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.
🏠 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.
Mindmap
Keywords
💡Visa
💡Immigration
💡Business Innovation and Investment Program (BIIP)
💡National Innovation Visa
💡Investment
💡Refund
💡Migration Agent
💡Housing Crisis
💡International Students
💡Election
💡Export
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
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