What was the Australian Golden Visa Program Known As BIIP?
Australia’s BIIP consists of two options, the Provisional Visa (Subclass 188), valid only for a few years, and the Permanent Visa (Subclass 888), the latter leading to Permanent Residency in Australia. The Australian BIIP Golden Visa allowed wealthy foreign investors to secure residency by making a financial investment in the country's economy or meeting specific requirements, such as the establishment of a business.
In contrast to other investment visa programs, the Australian Golden Visa programs did not mandate individuals to speak or learn the English language and did not impose any age restrictions. Nevertheless, those aiming for Permanent Residency were required to invest a total of AUD (Australian dollars) $5 million in Australia.
The unexpected termination of Australia's Residency by Investment (RBI) programs signals a monumental shift in the nation's immigration policies, sparking intrigue in the political sphere and speculation about the future of the investment immigration landscape in the country. The new policy not only raises questions about the economic impact of RBI programs around the world but also sparks curiosity about how this will shape global investment immigration trends.
Impact of the Australia Golden Visa’s End Around the World
Australia Golden Visa holders are now facing uncertainty about how the country will handle the renewals and recent applications. Both programs have long been a magnet for those seeking visa-free travel options. As Australia reevaluates its immigration policies, prospective investors ought to consider other countries offering alternative investment immigration programs with similar visa-free travel solutions.
Considering a significant number of applicants for Australia's BIIP program originate from China and Iran, there could be a sudden influx of applications from these nationalities for the Portugal D2 Visa and the Greece Golden Visa, the main Residency by Investment programs in Europe right now.
Golden Visa Programs Shut Down Around the World
With the termination of the Australian BIIP, the country joins a list of countries that recently ended their Golden Visa Programs. In 2023, Ireland shut down its Golden Visa program, and Portugal partially discontinued its Golden Visa program. In 2024, the Netherlands terminated its Golden Visa program as well.
Despite the partial termination of the Portugal Golden Visa, the program still exists, albeit without a Real Estate investment option, which had always been its main attraction. Regardless, Portugal still boasts alternative Residency by Investment solutions, such as the D2 Visa. It is a program that allows investors to become Residents in 3 months through the creation of a new business or branching out an existing one in Portugal.
Unlocking Investment Visa Opportunities
Discover valuable information for individuals seeking global Residency and Citizenship through investment immigration programs. Our Investment Visa Countries page can lead through more than 15 countries worldwide offering RBI and CBI programs. Do not wait any longer, the time to act and gain your second passport is now. Immerse yourself and explore the Golden Visa prospects available worldwide.