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A permanent visa that lets you continue investment and business activity in Australia. You must be nominated by a state or territory government.

Eligibility

Visa eligibility

To find out if you are eligible for this visa, read the Department of Home Affairs' visa criteria for the Business Innovation and Investment (Permanent) visa (subclass 888).

Victorian nomination eligibility

Victorian visa nomination is valid for three months. Please take this into consideration when submitting your visa application with the Department of Home Affairs.

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. For example you must have held complying investments of at least A$5 million for the duration of your provisional visa that have provided economic benefit to Victoria.

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 Home Affairs before 1 July 2015, your investments must meet one or more of 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 Home Affairs 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.

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 two steps:

Step 1: Apply for visa nomination

Complete the:

  • Business Innovation and Investment visa (subclass 888) Significant Investor stream downloadable application form.

A new online application form is in development. This downloadable version is being used as an interim measure.

You will need to prepare the following documentation for your application and upload it when requested:

  • Business Innovation and Investment (Permanent) visa (subclass 888) Nomination Conditions form 
  • Appointment of an Agent/Representative form (if applicable)
  • Evidence that your complying investments were of economic benefit to Victoria: 

If you lodged your provisional visa application with the Department of Home Affairs 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 Home Affairs 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.

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.

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

Please return the application form with supporting documents to businessmigration@liveinmelbourne.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 Home Affairs. 

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

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.

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 application and confirm that the information contained therein is true and correct.
  • I confirm that I meet all of 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 within the first five years of permanent visa grant and agree to participate in any surveys that the Victorian Government may conduct.
  • I have a genuine commitment to continue to engage in business, entrepreneurial or investment activity in Victoria. 
  • I have a genuine commitment to continue to reside in Victoria. 

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 with 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 Immigration and Border Protection (DIBP) 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.