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

Significant Investor stream

This visa is for people who are willing to invest at least A$5 million into complying investments in Australia and want to maintain business and investment activity in Australia. In order to lodge a valid visa application to the Department of Immigration and Border Protection you must receive nomination support from a state or territory government, or Austrade.

Check eligibility

Check eligibility

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

  • Victoria’s Significant Investor visa nomination assessment criteria.  

Next steps

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

Apply for visa nomination

Apply for Victorian visa nomination

You will need to submit an Expression of Interest (EOI) through the Department of Immigration and Border Protection’s SkillSelect and then apply for Victorian visa nomination before you can make a formal application for the Business Innovation and Investment (Provisional) visa (subclass 188) – Significant Investor stream.

Follow the steps below:

1. Lodge an Expression of Interest

Lodge an Expression of Interest through the Department of Immigration and Border Protection’s SkillSelect. When completing your Expression of Interest, select Victoria as your preferred destination.

2. Prepare your documentation by completing the following:

  • State Nominated Significant Investor (Provisional) visa (subclass 188C) Nomination Conditions form
  • Appointment of an Agent/Representative for State Nomination form (if applicable).

These documents are available from the Supporting Documentation and Forms page.

3. Apply for Victorian visa nomination, completing the State Nominated Business Significant Investor (Provisional) visa (subclass 188C) downloadable application form v5 (DOC, 296 KB). Please note that version 5 is the latest form to be used and replaces former versions.

A new online application form for Significant Investor visa nomination is in development. This downloadable version is being used as an interim measure. Please return the application form with supporting documents to businessmigration@liveinvictoria.vic.gov.au

Victorian visa nomination processing

Your application for visa nomination under the Business Innovation and Investment (Provisional) visa (subclass 188) – Significant Investor stream will receive priority processing. Most applicants receive an outcome within one week from the time their complete visa nomination application is lodged.

Additional information

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

Nomination outcome

We will email you and 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 will maintain complying significant investments that provide economic benefit to Victoria for the duration of my subclass 188 visa/s.   
  6. I have a genuine commitment to establish a residence and reside in Victoria.
  7. I shall not transfer my nomination to any other Australian State or Territory or to the Australian Trade and Investment Commission.

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  a result of any business decision, business activities or investments made by any person in any way connected with this application, or otherwise.
  5. nomination does not imply that the applicant’s investment has been assessed as a complying significant investment (as defined by regulation 5.19C of the Migration Regulations 1994 (Cth)). Whether an investment meets the definition of complying significant investment is assessed by the Department of Immigration and Border Protection.

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.

These nomination conditions also extend to any subclass 188 visa that is held in the Significant Investor Extension stream.

Assessment criteria

Assessment criteria

When you apply for Victorian visa nomination for the Significant Investor visa stream, we assess your application against a number of criteria.

Nomination eligibility conditions

You must meet the Department of Immigration and Border Protection’s requirements for this visa subclass.

Complying Investments

You will need to make an investment that complies as follows:

  • invest a minimum of A$500,000 into Venture Capital and Growth Private Equity (VCPE) funds
  • invest a minimum of A$1.5 million in emerging companies
  • you may be required to invest in a balancing investment to make up a total of at least A$5 million in complying investments, depending on the amount invested in VCPE funds and emerging companies.

No age limit

There is no age limit for this visa stream and you are not required to meet the Department of Immigration and Border Protection’s points test.

Contribution to Victoria

To qualify for Victorian Government visa nomination, you must show that your complying investments will make a contribution to the Victorian economy in two key investment areas:

1. Venture Capital and Growth Private Equity (VCPE) investment

To demonstrate economic benefit to Victoria through your Venture Capital and Growth Private Equity (VCPE) investment you will need to show that:

  • the VCPE fund is actively sourcing investment in Victoria, or
  • the VCPE fund provider maintains an office in Victoria.

2. Emerging companies and balancing investment

To demonstrate economic contribution to Victoria through your combined ‘emerging companies’ and ‘balancing investment’ components, you will need to show that:

  • Victorian investment is included in the chosen investments, or
  • the managed fund provider maintains an office in Victoria.

Your fund manager can provide you with a fund compliance form which indicates the contribution the fund will make to Victoria.

Investments

  • Your fund manager must provide you with sufficient information to allow you to fully understand the terms and conditions of an investment and the financial risk involved in that specific investment.

Living in Victoria

You must have a genuine and realistic commitment to seek Australian permanent residency status by living in Victoria and continuing to contribute to Victoria through investment activity. 

Victorian nomination requirements before 1 July 2015

On 1 July 2015, the Department of Immigration and Border Protection introduced a new Significant Investor visa Complying Investment Framework. For applicants nominated by Victoria before this date, view the previous nomination requirements for complying investments and contribution to Victoria before 1 July 2015

Extension nomination

Extension nomination

If you need extra time to meet the criteria for the permanent subclass 888 visa, you may be eligible to apply for a further subclass 188 visa in the Significant Investor Extension stream.

Assessment criteria

You need to apply for Victorian visa nomination before you apply for the visa. To be considered for Victorian extension nomination, you:

  • must have a subclass 188 visa in the Significant Investor or Significant Investor Extension stream. If you hold a subclass 188 visa in the Significant Investor stream, it must have been held for at least two years and nine months (from date of visa grant).
  • have maintained complying investments for the duration of your provisional visa(s)
  • are likely to meet the Victorian nomination criteria for the permanent subclass 888 visa in the future.

How to apply

To apply for nomination extension, complete the following forms and email to businessmigration@liveinvictoria.vic.gov.au:

  1. Business Innovation and Investment visa (subclass 188) Extension Nomination application form
  2. Department of Immigration and Border Protection's Nomination - Business Skills class | Form 1414
  3. Appointment of Agent / Representative for state nomination form (if applicable).

Processing times can vary. You can expect an outcome within five working days from the time your complete Victorian nomination application is lodged.

 


Contact Details for Investor and Business Migration

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

Email: businessmigration@liveinvictoria.vic.gov.au
Telephone: +61 3 9651 9756

Disclaimer

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