Criteria
Nominated occupation
> Age
> English language proficiency
> Skilled employment
> Educational qualifications
> Australian qualifications
> Regional study
> Community language skills
> Spouse/partner skills and qualifications
> Professional year
> Nominations and sponsorship ⦁ (Subclasses 190 and 489 only)
Nominated Occupation
To be eligible to apply under the General Skilled Migration program, applicants must nominate a skilled occupation included on Australia’s Medium and Long-term Strategic Skills List (MLTSSL), the Short-term Skilled Occupation List (STSOL), the Regional Occupation List (ROL), or the Regional Sponsored Migration Scheme (RSMS) ROL List. Our lawyers assessed your background before lodge and application.
Business category
Business Innovation and Investment (Provisional) visa (subclass 188)
The Business Innovation and Investment (Provisional) visa (subclass 188) has five streams available through the Department of Home Affairs’ Business Innovation and Investment Program. Four streams allow applicants to be nominated by a state or territory government.A provisional visa for those with business skills who want to establish, develop, and manage a new or existing innovative business in Victoria.
Stay: Up to 5 years
Stay longer: 3 years after you have this visa, you can apply for permanent residence.
Cost: vary from case to case
Nomination processing time: 30 business days requirements
We can provide a waiver of the age requirement in limited circumstances. Please contact us if you are over 55 and have an exceptional and innovative business proposal for Victoria.
English
⦁ you completed a course taught in English that took at least 3 years and led to a tertiary qualification, or
⦁ you completed final year schooling in Singapore, Hong Kong, South Africa or New Zealand, or
⦁ you completed other qualifications such as the International Baccalaureate or Cambridge Certificate of Proficiency in English.
Qualification
You must have completed either:
⦁ At least a bachelor degree in a STEMM field (Science, Technology, Engineering, Mathematics or Medicine), or
⦁ A Masters of Business Administration (MBA).
If you do not hold either of these, you must have relevant business history.
Business History
If you do not have a relevant qualification, you must have at least 3 years of experience in:
⦁ Health, medical research and life sciences
⦁ Digital
⦁ Agri-food
⦁ Advanced manufacturing
⦁ New energy, emissions reduction and circular economy
Points
You must score at least 65 on the Department of Home Affairs’ points test in SkillSelect.
Your business requirements
Your business proposal must show innovation and job creation
You must show how your proposed business activity will contribute to the Victorian economy through innovation and job creation.If you don’t meet these minimum requirements, we may refuse your nomination application for a permanent visa.
Innovation
You must demonstrate in your proposal that your business will contribute to innovation in Victoria through innovations in either product or process*. (subclass 888A)
Job creation
You must also demonstrate that your business will create jobs in Victoria.You must employ at least 2 full time eligible employees.consult on us .
Exemption: You could be exempt from this job creation requirement if your eligible business’ turnover is at least A$1 million per year for the 2 years before you apply for permanent residency.
Investor category
A provisional visa for high net-worth individuals who are willing to invest at least A$2.5 million into complying investments in Australia and maintain investment activity in Victoria.
Stay: Up to 5 years
Stay longer: 3 years after you have this visa, you can apply for permanent residence.
Cost: vary case to case
Nomination processing time: 30 business days
Eligibility requirements
Age
You must be under 55 at the time of application.
Points
You must score at least 80 on the Department of Home Affairs’ points test in SkillSelect.The SkillSelect points score requirement may vary throughout the year, to reflect the calibre of competition in the market.
Live in Victoria
You must have a genuine intention to live in Victoria for at least 2 years while you hold this visa.
Investment in Victoria
You must make a complying investment of at least A$2.5 million.
Read the C
You must make a complying investment* of at least A$2.5 million (held for the duration of the provisional visa). This will comprise of:
⦁ 21 per cent in eligible Victorian Venture Capital and Private Growth Equity funds (VCPE) investing in start-up and small private companies (A$500,000)
⦁ Note: this must be invested in ⦁ eligible Victorian Venture Capital funds.
⦁ 31 per cent in eligible managed funds or Listed Investment Companies (LICs) that invest in emerging companies (A$750,000)
⦁ 51 per cent in balancing investments in managed funds or LICs that invest in eligible assets, including Australian listed securities, eligible corporate bonds or notes, annuities and real property (A$1.25 million).
Significant Investor category
A provisional visa for high net-worth individuals who are willing to invest at least A$5 million into complying investments in Australia and want to maintain investment activity in Victoria.
Stay: Up to 5 years
Stay longer: 3 years after you have this visa, you can apply for permanent residence.
Cost:vary case to case
Nomination processing time: 20 business days
Investment in Victoria
You must make a complying investment of at least A$5 million.
Read the Complying investments in Victoria section below for more information.
Live in Victoria
You must intend to live in Victoria. You and your family cannot live in other states or territories of Australia.
You must have sufficient funds to settle in Victoria.
You must make a complying investment* of at least A$5 million (held for the duration of the provisional visa). This will comprise of:
⦁ 21 per cent in eligible Victorian Venture Capital and Private Growth Equity funds (VCPE) investing in start-up and small private companies (A$1,000,000)
⦁ Note: this must be invested in ⦁ eligible Victorian Venture Capital funds.
⦁ 31 per cent in eligible managed funds or Listed Investment Companies (LICs) that invest in emerging companies (A$1,500,000)
⦁ 51 per cent in balancing investments in managed funds or LICs that invest in eligible assets, including Australian listed securities, eligible corporate bonds or notes, annuities and real property (A$2.5 million).
Entreprenure category
A provisional visa for those who have secured funding of at least A$200,000 from a third party funding body to facilitate the commercialization of a product, service or development of a business in Australia. You must be nominated by a state or territory government.
Victorian nomination eligibility
The current criteria apply to new applications submitted from 4 January 2021.
For all individuals nominated by the Victorian Government for a Business Innovation and Investment (Provisional) visa (subclass 188) prior to this date, please refer to the nomination obligations submitted as part of the provisional application.
Age
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 Home Affairs specifies who these third party funding bodiesexternal link can be.
Innovation
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.
