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millions frozen, applications rejected

Source: afr.com afr.com
News Snapshot:

The current cases relate to the venture capital entrepreneur stream of visas, which required a $1 million funding deal and was among visa classes reformed by the federal government in 2021. It has been replaced with a new entrepreneur stream with less onerous funding requirements. The venture capital stream required applicants to secure $1 million in funding for a high-value business idea and an enforceable financing agreement with an Australian firm, according to Home Affairs. Alliant’s marketing describes it as making “impactful investments”, next to images of drones and wind farms. While registered in New Zealand, it operates out of…

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