A provisional visa for high net-worth individuals who are willing to make a designated investment of at least A$1.5 million in an Australian state or territory and maintain business and investment activity 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).
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) Investor stream nominated prior to this date, please refer to the nomination obligations submitted as part of the provisional application.
Victorian nomination eligibility
You must be under 55 years of age.
Department of Home Affairs' Points Test
Due to high demand for nomination, you must score at least 95 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.
Living in Victoria
You must establish a residence and reside in the State of Victoria. This requirement extends to dependents listed on the visa nomination application.
Investment in Victoria
You must agree to make a designated investment of at least A$1.5 million with the Treasury Corporation of Victoria.
Additional investment activity
You must make an additional investment of at least $A500,000 in Victoria during the provisional visa period. The investment must be held for no less than 24 consecutive months immediately preceding the Business Innovation and Investment (Permanent) visa (subclass 888) Investor Stream nomination application. This investment must be directed into a Victorian based Early Stage Venture Capital Limited Partnership (ESVCLP), Venture Capital Limited Partnership (VCLP) or a Fund of Funds (AFOF). The fund must be unconditionally registered with the Department of Industry, Science, Energy and Resources and comply with the existing Significant Investor Visa (SIV) Venture Capital investment framework. This includes eligible Private Equity funds.
Investments made prior to Victorian visa nomination cannot be used to meet this criterion. Loans from Australian financial entities or residents cannot be used to make this investment.
The Victorian Government strongly recommends that all successful nominees of this visa stream seek professional financial and investment advice to ensure they fully understand their investment options.
You may wish to source a qualified and registered financial advisor through Moneysmart Financial Advisors Register and review other relevant information with regard to what to look for in a financial advisor.
Designated Investment Bonds
Restrictions on purchasing Victorian Designated Investment Bonds:
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 visa nomination.
Ownership of bonds and swapping visa roles with your spouse
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.
Agreeing to the nomination obligations
You will be required to read, understand and agree to Victoria’s nomination obligations.
You need to apply for Victorian visa nomination before you make a formal application for your Department of Home Affairs' visa. Applying for visa nomination from the Victorian Government involves three steps.
Step 1: Submit an expression of interest
Submit an Expression of Interest (EOI) to the Department of Home Affairs through SkillSelect and nominate 'Victoria' as your preferred destination.
Step 2: Apply for visa nomination
Submit an online application for Victorian visa nomination
You need to register as a user of this website and then complete your 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) Business Investor stream Nomination Conditions form
- Appointment of an Agent/Representative form (if applicable)
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.
If your application for Victorian visa nomination is refused, you and/or your spouse must wait 6 months before you re-apply.
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 (at the contact points noted on this website) within one month of arrival in Victoria.
- I will make a designated investment (as defined by reg 188.246(1) of the Migration Regulations 1994 (Cth)) of at least A$1.5 million with the Treasury Corporation of Victoria.
- In addition to the designated investment of A$1.5 million, I will engage in eligible investment activity to the value of A$500,000 in Victoria for at least the 24 months immediately preceding my Business Innovation and Investment (permanent) visa (subclass 888) visa nomination application.
- I will establish a residence and reside in Victoria, to the exclusion of any other Australian state or territory.
- 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.
- I understand these Nomination Conditions contain words and phrases with particular meanings as defined by the Skilled and Business Migration Program. A complete glossary of these terms can be reviewed on the Live in Melbourne website at any time.
- I shall not transfer my nomination to any other Australian state or territory.
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 and the Treasury Corporation of Victoria.
- 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 Government's Skilled and Business Migration Program via email with any queries regarding visa nomination eligibility.
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.