30 UGLOBAL IMMIGRATION MAGAZINE
AUSTRALIA LAUNCHES CHANGES TO ITS BUSINESS , INVESTOR AND ENTREPRENEUR PROGRAMS
BY JAMES ALAN HALL
To improve the quality of investments and maximize the economic benefits of the programs , Australia made amendments to many of its investment streams on July 1 , 2021 .
The Business Innovation and Investment program ( BIIP ) is designed to attract businesses , entrepreneurs and investors to Australia which has been successful with a consistently high demand that far exceeds the number of visas available . This is despite investment thresholds that are significantly higher than many other countries including the United States .
AUSTRALIA IS THE # 1 PREFERRED DESTINATION FOR HIGH NET WEALTH MIGRANTS
Australia has the highest global inflow of migrants with more than 1 million American dollars in wealth with a net arrival of 12,000 in 2019 as reported by New World Wealth . In October 2020 , the Department of Home Affairs ( DHA ) which