A provisional visa for those who have secured funding of at least A$200,000 from a third party funding body to facilitate the commercialisation of a product, service or development of a business in Australia. You must be nominated by a state or territory government.
To find out if you’re eligible for this visa, read the Department of Home Affairs' criteria for the Business Innovation and Investment (Provisional) visa (subclass 188).
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.
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 bodies can be.
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.
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.
You need to apply for Victorian visa nomination before you make a formal application for your visa. Applying for visa nomination from the Victorian Government involves three steps:
Step 1: Submit an expression of interest
Submit an expression of interest to the Department of Home Affairs through SkillSelect and nominate 'Victoria' as your preferred destination.
Step 2: Apply for visa nomination
- Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream application form. See register button below to complete the application.
You will need to prepare the following documentation for your application and upload it when requested:
- Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream Nomination Conditions form
- Appointment of an Agent/Representative form (if applicable).
- Signed third party funding agreement
- A business plan.
All forms are available from the Supporting documentation and forms page.
Step 3: Lodge a formal visa application
If you receive visa nomination from the Victorian Government, an automatic invitation will be sent to you by SkillSelect advising you to lodge a formal visa application with the Department of Home Affairs within 60 days. Nomination can be provided to an individual applicant only once in a 12 month period. Please ensure the application EOI is correct at the time of nomination. Applicants will be unable to use the nomination if an application is not lodged within the 60 period or if there are substantial errors with the application, and will be required to wait 12 months to re-apply.
Victorian nomination processing times
You can expect an outcome within four weeks from the time your complete application for visa nomination is lodged.
We will contact you or your agent (if applicable) if we need more information to assess your application.
You or your agent (if applicable) will be notified of the outcome of your visa nomination application by email.
Pathway to permanent residence
If you adhere to the provisional obligations and meet the permanent requirements, you may be able to go on and apply for the permanent visa.
As part of your application, you will be required to agree and adhere to the following obligations:
- 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.
- I confirm that I meet all of the Australian Department of Home Affairs’ visa eligibility criteria for the Business Innovation and Investment (Provisional) visa (subclass 188).
- I understand that it is my responsibility to ensure that I meet the Victorian Government visa nomination criteria and the Department of Home Affairs’ visa eligibility criteria for the Business Innovation and Investment (Permanent) visa (subclass 888).
- 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.
- I will make contact with the Victorian Government (via the Live in Melbourne website) within one month of arrival in Victoria.
- I have a genuine commitment to engage in ongoing entrepreneurial activity that provides economic benefit to Victoria.
- I have sufficient financial resources to support myself and my dependents to settle in Victoria and I understand that it is my responsibility to determine the cost of living in Victoria.
- I will establish a residence and reside in Victoria to successfully manage my business, to the exclusion of all other Australian states and/or territories
- I shall not transfer my nomination to any other Australian State or Territory.
- I understand these Nomination Conditions contain words and phrases with particular meanings as defined by the Skilled and Business Migration Program. Definitions of these terms can be reviewed on the Live in Melbourne website at any time.
- I understand that it is my responsibility to approach the Skilled and Business Migration Program if I am uncertain of any conditions, to seek clarification.
The Victorian Government
- may share information relating to the application and the applicant’s business/investment activities in Victoria with the Department of Home Affairs.
- reserves the right to make direct contact with the applicant 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 Home Affairs or the Administrative Appeals tribunal on behalf of the applicant.
- 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.
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.
Please contact the Victorian Skilled and Business Migration Program via email with any queries regarding visa nomination eligibility: firstname.lastname@example.org
New way to apply
A new and improved way to apply
We have made it easier for you to register, submit and track the progress of your application.
Our visa application forms are now mobile and tablet friendly with improved layout and helpful text fields.