Bookmark and Share
  • Youtube

    Go to Youtube channel

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

This visa is for people who want to make a designated investment of at least AUD1.5 million in an Australian state or territory and maintain business and investment activity in Australia. In order to lodge a valid visa application to the Department of Immigration and Border Protection (DIBP) you must receive state nomination support.

Check eligibility

Check eligibility

To find out if you are eligible, read the Department of Immigration and Border Protection’s (DIBP) visa criteria for the Business Innovation and Investment (Provisional) visa (subclass 188)

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

  • meet the DIBP eligibility requirements for this visa;
  • make a designated investment with the Victorian Treasury Corporation; and
  • engage in business or additional investment 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

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) – Investor stream. 

Follow the steps below:

1. Submit an Expression of Interest

Lodge an Expression of Interest through DIBP's SkillSelect. When completing your Expression of Interest, select Victoria as your preferred destination.

2. Prepare your documentation by completing the following:

  • State Nominated Business Investor (Provisional) visa (subclass 188B) Nomination Conditions form

  • Appointment of an Agent/Representative form

Both are available from the Supporting Documentation and Forms page.

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

4. Apply for visa nomination online, uploading the documents when requested.

Where to get technical help

If you experience technical difficulties with your online application, please email:

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.

State nomination conditions

Victorian state nomination conditions

Nomination support by the Victorian Government is conditional and subject to formal acceptance and acknowledgement by the applicant of the following:

  • The applicant has read (or has had read to them) the contents of their application and confirms that the information contained therein is true and correct.
  • The applicant confirms that they meet all of the Department of Immigration and Border Protection (DIBP) visa eligibility criteria. 
  • The Victorian Government may share information relating to the application and the applicant’s business/investment activities in Victoria with the Department of Immigration and Border Protection (DIBP).
  • The Victorian Government reserves the right to make direct contact with the applicant in relation to this application or related matters. This may include contact from the Commissioner of a Victorian Government Business Office (VGBO) to discuss potential assistance in relation to business/investment activity in Victoria.
  • The Victorian Government has no legal authority to deal with visa matters and will not advocate to the Department of Immigration and Border Protection (DIBP) or the Migration Review Tribunal on behalf of the applicant.
  • The applicant will notify the Victorian Government of any changes in their contact details and agrees to participate in any surveys that the Victorian Government may initiate.
  • The Victorian Government 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. 
  • Victorian Government nomination is not transferable to any other Australian State or Territory.
  • The applicant has a genuine commitment to establish a residence in the State of Victoria.
  • The applicant will make contact with the Victorian Government within one month of arrival in Victoria.
  • The applicant will reside in Victoria as per their visa and nomination conditions.
  • The applicant will make a designated investment of at least A$1.5 million with the Treasury Corporation of Victoria.
  • In addition to the designated investment of A$1.5 million, the applicant will engage in ongoing business/investment activity in Victoria within 36 months of arrival.

Without express written consent from the Victorian Government, failure to comply with the above conditions may result in the withdrawal of Victorian Government support 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 are required to meet the Department of Immigration and Border Protection (DIBP) requirements.


Applicants must be under 55 years of age. 

Living in Victoria

The applicant must have a genuine commitment to establish a residence and reside in the state of Victoria as per the visa and nomination conditions.

Investment in Victoria

The applicant must agree to  make a designated investment of at least A$1.5 million with the Victorian Treasury Corporation. 

Designated Investment Bonds

Restrictions on purchasing Victorian Designated Investment Bonds

US nationals and residents

If you are a US citizen or resident, you may be restricted from purchasing Victorian Designated Investment Bonds due to securities restrictions in the US.

Sanctions against countries

The Australian Government imposes sanctions against some countries to restrict commercial activities. If you are a national of, residing in or sending funds from a country that the Australian Government has imposed sanctions against, you may not be able to purchase Victorian Designated Investment Bonds.

For up to date information on sanctioned countries, please visit the Department of Foreign Affairs and Trade website.

If any of the above circumstances might apply to you, we recommend that you first confirm your eligibility for Victorian Designated Investment with the Treasury Corporation of Victoria and seek independent advice prior to lodging your Expression of Interest and applying for state nomination.

Ownership of bonds and spouse swapping

If you decide to swap roles with your spouse/de facto partner at permanent visa stage (subclass 888 visa) so that they become the primary visa applicant, this may not be possible if the bonds were not held jointly by you and your spouse/de facto partner. Please take this into consideration when purchasing your Victorian Designated Investment Bonds and seek independent advice on any implications.


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.