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A provisional visa for those 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.

Eligibility

Visa eligibility

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

Age

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.

Investment in Victoria

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

Additional business or investment activity

The applicant must engage in additional business or investment activity in Victoria during the provisional visa period. Investment activity must be non-passive. This requires an applicant to regularly monitor and actively manage the investment. Some examples include actively managing stocks, real estate or investing in a company.

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 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.

Sufficient funds to settle in Victoria

The applicant and their dependents must have sufficient funds to settle in Victoria. 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.

Agreeing to the nomination obligations

You will be required to read, understand and agree to Victoria’s nomination obligations.

Application process

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’ SkillSelect and nominate 'Victoria' as your preferred destination.

Step 2: Apply for 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.

Victorian nomination processing times

Processing times can vary. You can expect an outcome within four weeks from the time your complete application for visa nomination is lodged.

Additional information

We will contact you or your agent (if applicable) if we need more information to assess your application.

Nomination outcome

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.

Obligations

As part of your application, you will be required to agree and adhere to the following obligations:

Your 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 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 5.19A of the Migration Regulations 1994 (Cth)) of at least AUD1.5 million with the Treasury Corporation of Victoria.
  • In addition to the designated investment of AUD1.5 million, I have a genuine commitment to engage in ongoing business/ investment activity in Victoria within 36 months of arrival.
  • I have a genuine commitment to establish a residence and reside in Victoria.
  • 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.

Nomination Extension

If you need extra time to meet the criteria for the permanent subclass 888 visa, you may be eligible to apply for a further subclass 188 visa in the Business Innovation Extension stream. To be considered for Victorian extension nomination, you:

  • must have held a subclass 188 visa in the Business Innovation stream for at least two years and nine months (from date of visa grant)
  • hold an ownership interest in an actively operating Victorian business for at least one year and nine months
  • are likely to meet the Victorian nomination criteria for the permanent subclass 888 visa in the future.

You should also check that you meet the Department of Home Affairs' visa criteria for extension.

How to apply

To apply for nomination extension, complete the following forms and email to businessmigration@liveinmelbourne.vic.gov.au:

  • Business Innovation and Investment visa (subclass 188) Extension Nomination application form
  • Department of Home Affairs' Nomination - Business Skills class | Form 1414
  • Appointment of Agent / Representative for state nomination form (if applicable).

All forms are available from the Supporting documentation and forms page.

Processing times can vary. You can expect an outcome within four weeks from the time your complete Victorian nomination application is lodged.