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Business Innovation and Investment (Provisional) visa (subclass 188)

Entrepreneur stream

The Entrepreneur stream was added as a new stream to the Business Innovation and Investment (Provisional) visa (subclass 188) on 10 September 2016. This visa is for individuals who have secured funding of at least A$200,000 from a third party funding body to facilitate the start-up of an innovation.

Visa nomination from a state or territory government is required before you can lodge a valid application for this visa with the Department of Immigration and Border Protection.

Visit the Visa nomination page for more information about Victorian visa nomination.

Check eligibility

Check your eligibility

To be eligible for visa nomination by the state of Victoria, you will need to meet:

  • Victoria’s Entrepreneur visa nomination assessment criteria on this page.

Next steps

Once you are confident you can meet the relevant requirements, you can apply for Victorian visa nomination.

How to apply

How to apply

You will need to submit an expression of interest through the Department of Immigration and Border Protection’s SkillSelect website and then apply for Victorian visa nomination before you can make a formal application for this visa.

Applying for visa nomination from the Victorian Government is a simple process that involves four steps.

Step 1. Submit an Expression of Interest

Submit an expression of interest to the Department of Immigration and Border Protection through SkillSelect and nominate 'Victoria' as your preferred destination.

Step 2: Prepare your documentation

Ensure you have the following documents completed:

  • Business Innovation and Investment (Provisional) visa (subclass 188) Entrepreneur stream Nomination Conditions form available from the Supporting Documentation and Forms page
  • Signed third party funding agreement
  • A business plan.

Step 3: Apply for visa nomination

Apply for Victorian visa nomination, completing the Business Innovation and Investment (Provisional) visa (subclass 188) Entrepreneur stream downloadable application form.

Note: An online application form for Entrepreneur visa nomination is in development. This downloadable version is an interim measure. Please return the application form with supporting documents to

Step 4: Lodge a formal visa application

Once you receive visa nomination from the Victorian Government, an automatic invitation will be sent to you by SkillSelect advising you to lodge a formal visa application with the Department of Immigration and Border Protection within 60 days.

Victorian visa nomination processing

Processing times can vary. Applicants can expect an outcome within twelve weeks from the time the complete application is lodged for visa nomination.

Additional information

We will contact you if we need more information to assess your application.

Nomination outcome

We will email you or your migration agent with the outcome of your visa nomination application.

Visa nomination conditions

Victorian visa nomination conditions

Visa nomination by the State of Victoria acting through the Department of Economic Development, Jobs, Transport and Resources (the Victorian Government) is conditional and subject to my formal acceptance and acknowledgement of the following:

My obligations

  1. I have read (or have had read to me) the contents of my nomination application and confirm that the information contained therein is true and correct.
  2. I confirm that I meet all of the Australian Department of Immigration and Border Protection visa eligibility criteria for the Business Innovation and Investment (Provisional) visa (subclass 188).
  3. I will notify the Victorian Government of any changes to my contact details and agree to participate in any surveys that the Victorian Government may conduct.
  4. I will make contact with the Victorian Government (at the contact points noted on the Live in Victoria website) within one month of arrival in Victoria.
  5. I have a genuine commitment to engage in ongoing entrepreneurial activity that provides economic benefit to Victoria.
  6. I have sufficient financial resources to support myself and my dependents to settle in Victoria and I understand that it is my responsibility to determine the cost of living in Victoria.
  7. I have a genuine commitment to establish a residence and reside in Victoria.
  8. I shall not transfer my nomination to any other Australian State or Territory.

The Victorian Government

  1. may share information relating to the application and the applicant’s business/investment activities in Victoria with the Department of Immigration and Border Protection.
  2. reserves the right to make direct contact with the applicant in relation to this application or related matters.
  3. has no legal authority to deal with visa matters and will not advocate to the Department of Immigration and Border Protection or the Administrative Appeals Tribunal on behalf of the applicant.
  4. does not endorse any investment made, or any business activity undertaken, by the applicant nor does it accept liability for any financial loss, cost or expense incurred as a result of any business decision, business activities or investments made by any person in any way connected with this application, or otherwise.

Without express written consent from the Victorian Government, failure to comply with the above conditions may result in the withdrawal of Victorian Government nomination for the applicant’s visa.

Assessment criteria

Assessment criteria

When you apply for Victorian visa nomination, your application is assessed against a number of criteria. We apply the criteria below across all applications.

Nomination eligibility conditions

Applicants must meet the Department of Immigration and Border Protection (DIBP) requirements for this visa subclass.


Applicants must be under 55 years of age. 

Funding from a third party

The applicant must have a funding agreement in place with an authorised third party funding body for a total of at least A$200,000. The Department of Immigration and Border Protection specifies who these third party funding bodies can be.


The entrepreneurial activity must relate to an innovative idea that is proposed to lead to the commercialisation of a new or improved product or service or the development of a new enterprise of business.

This visa is not for individuals seeking to establish a regular business.

What is innovation?

Innovation is a new idea, product or process that creates better solutions for businesses, consumers, the economy and society. Innovation creates jobs, improves efficiencies and addresses barriers to growth. Innovation is not just about creating a new product, but also about improving ways of doing things.

For example, Sanjib has been working on a new, inexpensive technology to easily purify large quantities of water through a hand held device. He has received funding from the Commonwealth Government to commercialise the product and will set his business up in Victoria.

Business plan

A detailed business plan or “pitch” document is required for the visa nomination application. Applicants should also provide information on the potential benefit to Victoria of the innovation in their business plan or as an attachment to the application.  

Applicants can re-use their business plan or “pitch” document that was submitted to obtain third party funding for the innovation idea. 

Benefit to Victoria

Applicants must show how their proposed entrepreneurial activity will benefit Victoria. This is evaluated on a case by case basis. Factors taken into account include, but are not limited to: 

  • The nature of the innovation, whether it increases efficiencies, creates a dynamic product or improves existing services
  • The potential economic contribution to be made to Victoria by the innovation, as well as any social or environmental benefits
  • Whether the innovation addresses a significant need in an industry sector in Victoria
  • Whether the innovation is likely to lead to employment opportunities for Victorians
  • Whether a patent, design or trademark has been registered for the innovation.

Victoria encourages innovation and entrepreneurship. All factors particular to a case will be taken into consideration in our assessment. 

Applicants must also demonstrate that either:

  • the third party funding body has Victorian operations, or
  • the entrepreneurial activity will be undertaken in Victoria.

Sufficient funds to settle in Victoria

The applicant and their dependents must have sufficient funds to settle in Victoria. Applicants are required to declare that they have sufficient funds for settlement in their Victorian visa nomination application. It is the responsibility of the applicant to research and determine the cost of living in Victoria to ensure their own financial resources are adequate for settlement. See further information on the cost of living in Victoria.

Living in Victoria

Applicants must have a genuine and realistic commitment to live in Victoria permanently and continue to contribute to Victoria through entrepreneurial activity. We will assess the applicant's settlement intentions as part of the nomination application.


Contact Details for Investor and Business Migration

For further information or assistance with your application for Victorian visa nomination please contact:

Telephone: +61 3 9651 9756


These policies and procedures may be varied without notice. Please visit the website regularly to check for updates.