Many of us have been super eager about the latest on Australia’s skilled and business program. We are pleased to share that the quota for the Skilled Nominated (Subclass 190) and Skilled Work Regional (Subclass 491) visas has been released! Some good news and bad news.

Australia Capital Territory (ACT), Tasmania and Queensland have each secured 600 places for both Subclass 190 and 491 visas. New South Wales tops with 2,650 for Subclass 190 and 1,500 for Subclass 491. Following closely, Victoria has 2,700 for Subclass 190, and South Australia with 1,100 for the same category.

That sums up to an impressive 10,300 for Skilled Nominated and 6,400 for Skilled Work Regional visas. The figures are looking pretty good for most states, especially for New South Wales, Victoria, and South Australia. On the flip side, there are States, such as Western Australia has a reduced quota on the number.

However, every announcement, like a coin, has two sides. To the disappointment of many, no new nomination places for visa subclass 188 business and the investment program will be made available this fiscal year. This decision has been attributed to the significant volume of applications already in queue for processing. Looking ahead, it’s important to note that the earliest opportunity for new applications will likely be only in July 2024.

Although the decision on the BIIP is disheartening, It’s crucial to remember that the entire program is under review at the moment. It would thus be judicious for any major decisions to be taken only once the strategy has been finalized.

In conclusion, while today’s announcement brings mixed feelings, let us stay hopeful. Australia’s commitment to skilled migration remains unwavering. As for the BIIP, we remain optimistic about future opportunities and are confident that the program will be shaped in a way that aligns with Australia’s evolving business and economic landscape. Wrapping up, the path of migration always has its ups and downs.