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Business Innovation and Investment (Permanent) visa (subclass 888)

Business Innovation stream

The Business Innovation and Investment (Permanent) visa (subclass 888) – Business Innovation stream is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream. You can apply for it after you have fulfilled the requirements of your provisional visa.

Check eligibility

What is an eligible business?

An eligible business can be almost any commercial endeavour. However, some activities may be excluded, unless otherwise agreed to in writing. Exclusions include:

  • small scale property development
  • small scale freight forwarding and warehousing
  • commodity and scrap metal export
  • passive investment.

Check eligibility

The Business Innovation and Investment (Permanent) visa (subclass 888) has three streams available through the Department of Immigration and Border Protection (DIBP).

To find out if you are eligible for the permanent Business Innovation stream, read DIBP’s visa criteria for the Business Innovation and Investment (Permanent) visa (subclass 888).

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

  • meet the DIBP eligibility requirements for this visa; and

  • have owned and operated a viable and sustainable ‘eligible’ business in Victoria for no less than two years; and

  • have a genuine commitment to remain in Victoria and to continue to engage in commercial activity.

You should also read the state nomination conditions and assessment criteria on this page.

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

Follow the steps below to apply for Victorian nomination of your visa application.

1. Prepare your documentation by completing and signing:

  • Appointment of an Agent/Representative form

  • Nomination Conditions form

  • State Nomination Statement form

All of the above are available from the Supporting Documentation and Forms page.

  • Balance Sheet and Profit & Loss Statement for the past 24 months

  • Three photos of the business (external and internal), products or service.

2. Register as a user of the Live in Victoria website.

3. Apply for visa nomination online, uploading the documents and photos when requested.

Where to get technical help

If you experience technical difficulties with your online application, please email: webmaster@liveinvictoria.vic.gov.au

Victorian visa nomination processing

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

Additional information

If further clarification is required regarding your application, additional information may be requested.

Nomination outcome

You and your agent will be notified of the outcome of your visa nomination application by email.

Visa nomination conditions

Victorian visa nomination conditions

Victorian Government visa nomination is conditional and subject to your formal acceptance and acknowledgement of the following conditions:

Applicant obligations

  • you have read (or have had read to you) the contents of your nomination application and confirm that the information contained therein is true and correct
  • you confirm that you meet all of the Department of Immigration and Border Protection visa eligibility criteria
  • you will notify the Victorian Government of any changes to your contact details within the first five years of permanent visa grant and agree to participate in any surveys that the Victorian Government may initiate
  • you have a genuine commitment to continue to engage in business, entrepreneurial or investment activity in Victoria
  • you have a genuine commitment to continue to reside in Victoria.

The Victorian Government

  • may share information relating to your application and your business/investment activities in Victoria with the Department of Immigration and Border Protection and with the Treasury Corporation of Victoria
  • reserves the right to make direct contact with you in relation to this application or related matters
  • 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 you
  • does not endorse any investment made, or any business activity undertaken, by you 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 your 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 your 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 are required to meet the Department of Immigration and Border Protection (DIBP) requirements.

Applicants holding a provisional visa nominated by the state of Victoria must demonstrate that they have met the nomination eligibility conditions they agreed to at the time of accepting provisional nomination.

Living in Victoria

The applicant must have resided in Victoria to have successfully managed their business. Time absent from Victoria generally should be no more than six weeks a year, if more than six weeks, the applicant must submit the business reasons for their absence.

Operational responsibility

The applicant must be able to show that they have been responsible for the day to day operation of their business and the overall strategic direction of the business.

Current data

At the time of lodgement for state nomination, the data provided in the application must be no more than three months old and be consistent with Business Activity Statements, financial reports, tax lodgements and any data held by an Australian government department, e.g. Australian Taxation Office and DIBP.

Payment of employees

The applicant is required to comply with the National Minimum Wage standards in regards to 'eligible' employees. For guidance regarding full time and part time employees, holiday pay rate, work cover, superannuation; please consult with your registered accountant.

The Fair Work Commission website provides information about minimum wages for the current period.

Export business activity

Applicants engaging in export activity must demonstrate that the business has made a direct contribution to the Victorian economy. Examples of how to demonstrate economic contribution can include identifying:

  • the export value of Victorian goods and services
  • Victorian jobs created or retained,  including  flow-on effects to other Victorian suppliers
  • the local economic benefits of the  business
  • assistance to Victorian businesses in exporting their products or addressing market gaps
  • the expansion of export markets
  • other examples depending on the nature of the business.

Applicants are required to demonstrate that they will not engage in ‘grey market’ or ‘parallel exporting’, that is, activities where goods are imported and sold in an export market without the consent of the owner of the goods’ trademark.  Such evidence may be, but is not limited to, your consultation with the Victorian business for example,  partnership agreements, the provision of meeting dates and personnel consulted.

 


Contact Details for Investor and Business Migration

For further information or assistance with your application for Victorian visa sponsorship 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.