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

Significant Investor stream

The Significant Investor stream of the Business Innovation and Investment (Permanent) visa (subclass 888) allows you to continue to live in Australia and undertake business and investment activities. It is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188).

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

Check eligibility

Check eligibility

To be eligible for visa nomination by the Victorian Government, you will need to:

Victorian visa nomination is valid for three months. Take this into consideration when submitting your visa application with the Department of Immigration and Border Protection.

For the full list of Victorian nomination requirements, see the 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 need to apply for Victorian nomination before you apply for your visa.

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

Step 1 : Apply for visa nomination

Apply for Victorian visa nomination by completing the Business Innovation and Investment visa (subclass 888) – Significant Investor stream downloadable application form.

You will need to prepare the following documentation for your application:

  • an Appointment of an Agent/Representative form (if applicable)
  • a Nomination Conditions form for Business Innovation and Investment (Permanent) visa (subclass 888).

The above documents are available from the Supporting Documentation and Forms page.

You will also need to prepare the documents below.

1. Evidence that your complying investments were of economic benefit to Victoria:

If you lodged your provisional visa application with the Department of Immigration and Border Protection before 1 July 2015:

  • for Victorian Government Bonds: a copy of the Bond Holding Certificate

  • for Managed Funds: a letter from the managed fund service provider detailing the Victorian assets being invested in; or, a holding statement provided by the manager of a registered managed investment scheme

  • for Private Company Investments: a current and historical company extract from ASIC.

If you lodged your provisional visa application with the Department of Immigration and Border Protection on or after 1 July 2015:

  • holding statement/s provided by the manager of a registered managed investment scheme

  • letter/s from the fund manager outlining the economic benefit to Victoria of the investments.

If you have changed your complying investments during the provisional visa period, please ensure to include evidence of all complying investments held.

2. Evidence of your commitment to reside in Victoria. Some examples of evidence include:

  • tenancy agreement
  • property ownership documents
  • enrolment of children in Victoria schools
  • airline documents showing time spent in Victoria
  • receipts from apartments, hotels, car hire or other services used in Victoria
  • a commitment statement explaining residence in Victoria. 

The above are only some examples; the Victorian Government is flexible regarding evidence that can be used to show your commitment to Victoria.

Please return the application form with the above supporting documents to businessmigration@liveinvictoria.vic.gov.au

Step 2: Lodge a formal visa application

If you receive Victorian government visa nomination, you can then lodge a visa application with the Department of Immigration and Border Protection.

Notes about your application

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

Your application for visa nomination under the Significant Investor stream will receive priority processing. Applicants receive an outcome within one week from the time their complete visa nomination application is lodged.

Additional information

More information may be requested from you if further clarification is required about your application.

Nomination outcome

You and your agent (if applicable) 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 the following criteria:

Visa eligibility

You are required to meet the Department of Immigration and Border Protection visa requirements.

Victorian visa nomination is valid for three months. As such, early applications are not recommended since this may impact visa eligibility.

Provisional visa nomination conditions

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

Complying investment

You must show that you have continuously held complying investments that were of economic benefit to Victoria during your provisional visa period.

If you lodged your provisional visa application with the Department of Immigration and Border Protection before 1 July 2015, your chosen investments must meet the following requirements:

  • Victorian Government Bonds: an investment of A$1.5 million or more over four years in Victorian Government Bonds
  • Managed Funds: Victorian investment was included in the fund’s chosen investments
  • Private Company: an investment in a Victorian based proprietary (private) company of A$1.5 million or more.

If you lodged your provisional visa application with the Department of Immigration and Border Protection on or after 1 July 2015, your investments must meet the following requirements:

- Venture Capital and Growth Private Equity (VCPE) investment      

  • the VCPE fund actively sourced investments in Victoria, or
  • the VCPE fund provider maintained an office in Victoria.

- Emerging companies and balancing investment

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

Commitment to Victoria

You will be required to demonstrate that you are committed to living and investing in Victoria.

The Victorian Government is flexible on how this commitment is demonstrated. We understand that individuals have different circumstances, so we will consider factors collectively, such as:

  • whether a residence has been established in Victoria
  • time spent in Victoria and in other Australian States/ Territories
  • whether spouses/ partners and children are living, studying or working in Victoria
  • steps taken towards living in Victoria in the future. For example, property purchase, future school enrolment of children.
  • any other relevant factors, such as additional business or investment activity undertaken in Victoria beyond the complying investment.

Note: you are not required to demonstrate all of the above factors.

Some examples of evidence include:

  • tenancy agreement
  • property ownership documents
  • enrolment of children in Victoria schools
  • airline documents showing time spent in Victoria
  • receipts from apartments, hotels, car hire or other services used in Victoria
  • a commitment statement explaining residence in Victoria
  • evidence of additional business/ investment activity in Victoria.

The above are only some examples; the Victorian Government is flexible regarding evidence that can be used to show your commitment to Victoria.

 


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.