Select your visa below to learn more about the meanings of specific terms
Business Innovation and Investment (Provisional) visa (subclass 188) - Business Innovation Stream
Term | Meaning |
---|---|
Economic benefit | Any non-export E-commerce business operating primarily at a Victorian address will be considered of economic benefit. Applicants proposing to engage in export or Ecommerce activity, must demonstrate how the proposed activity will provide a direct contribution to the Victorian economy, such as through:
Note that payroll taxation revenue and GST are not considered to be of sufficient benefit to Victoria. |
Eligible Full time Employee | A full-time equivalent (FTE) is a single employee who works no less than 30 hours per week, over a period of 12 months, permitting up to 2 months of vacation (paid or unpaid). The Victorian Government will accept part time employees who work no less than 20 hours per week, over a 12-month period permitting up to 2 months of vacation (paid or unpaid) as half an FTE. Casual employment cannot be used to fulfill this requirement. Each employee whose employment
We will allow for reasonable lapses in employment numbers to allow for staff loss, progression and turnover. If staff levels drop below the required number for more than 3 months, evidence should be provided to support such a long vacancy, for instance job advertisement charges or invoices and a full description of specific skillset that was unable to be obtained. Subclass 188 visa holders will be required to show payroll tax or superannuation documentation evidencing their employee numbers when applying to Victoria for nomination of their subclass 888 visa permanent visa subclass. |
Establish a Residence in Victoria | The visa holder is required to purchase or rent a residential home as evidence of their residence in Victoria. Bond receipt documents and a formal lease will be required to evidence rental of a residence, formal title deed will be required to evidence property purchase. Victoria may also require Passenger Movement Records and utility bills for the period of residence. Primary visa holders or their spouse are required to meet the Department of Home Affairs’ residency requirements for this visa subclass. Staying with friends outside of a formal lease arrangement during this time is not accepted by Victoria, as it does not demonstrate a financial commitment For border towns only (those that share a border with SA or NSW) these can be accepted at the discretion of the Victorian Government. The visa holder is not permitted to reside in any other state other than |
Export Activity | Businesses that report at least $2,000 (in current prices) of export sales in BAS are considered as having undertaken export activity. This is consistent with the Australian Bureau of Statistics (ABS) definition of an exporter. |
Master of Business Administration | A qualification which states “Master of Business Administration” in the award certificate, and at least 1 year of full-time equivalent study has been completed as part of this qualification. An eligible degree can have been completed at any time. |
Parallel Exporting/Grey Market Exporting | This refers to the practice of products being sold in/to overseas markets without the express consent of the trademark owner. This type of exporting is not permitted and is not eligible for Victorian nomination. This exclusion ensures that Victorian nominated business migrants export with the permission of the product manufacturer or trademark holder. This ensures that the business |
Process Innovation | A new or significantly improved production or delivery method. This includes significant changes in techniques, equipment and/or software. Implementing processes already commonly used in Victoria is not considered Process Innovation. |
Product Innovation | A good or service that is new or significantly improved. This includes significant improvements in technical specifications, components and materials, software in the product, user friendliness or other functional characteristics. Businesses that simply sell innovative products are not considered as product innovation. |
STEMM Qualification | Any completed degree (no less than 3 years full time/6 semesters full time) that includes; Science, Technology, Engineering, Maths or Medical Science/Medicine in the degree or award name. Social sciences and humanities qualifications are excluded. An eligible degree can have been completed at any time, in any country and in any language. To evidence qualifications, the relevant award certificate and complete transcript is required, in addition to the qualification being listed in the applicant’s relevant SkillSelect EOI at the time of nomination. |
Victorian Business/s | A Victorian business must have its main premises located in a Victorian postcode. The main premises is defined as the location where the majority of staff are located. |
Victorian Business Turnover | Turnover of the eligible business/es is calculated including GST and on a rolling 12 months basis. The Victorian Government uses the same definition of annual turnover as the Department of Home Affairs. |
Work Experience in a Strategic Industry | An eligible applicant must evidence no less than 3 years in a senior role in a business directly involved in one of the Victorian Target Sectors. This experience must have been obtained within the last 10 years. A senior role is defined as having strategic and financial oversight of the company or business. This may include a board member, CEO, CFO or CPO for example. The eligible role/s must be listed in the Expression of Interest (EOI) at time of nomination and a signed Position Description and Contract must be provided to support the applicant’s claims made in the application. |
Business Innovation and Investment (Provisional) visa (subclass 188) – Business Investor Stream
Term | Meaning |
---|---|
Eligible Complying Investments (Emerging Companies and Balancing) | To qualify for Victorian Government visa nomination, you must show that your complying investments will make a contribution to the Victorian economy. All complying balancing and Emerging Companies investments made by Victorian Government nominated Investor Stream visa holders must either ensure the:
Any eligible investment under the Complying Investment Framework that includes investment into businesses, infrastructure, projects or ventures located in Victoria is considered to be a Victorian Investment. |
Eligible Victorian VCPE funds | Victorian based Early Stage Venture Capital Limited Partnership (ESVCLP), Venture Capital Limited Partnership (VCLP) or a Fund of Funds (AFOF). The fund must be registered with the Department of Industry, Science, Energy VC funds are considered “Victorian” if they have an operating business address in Victoria (not a home office – must be a reasonable commercial address that |
Establish a Residence in Victoria |
The visa holder is required to purchase or rent a residential home as evidence of their residence in Victoria. Bond receipt documents and a formal lease will be required to evidence rental of a residence, formal title deed will be required to evidence property purchase. Victoria will may also require
Passenger Movement Records and utility bills for the period of residence.
Primary visa holders or their spouse are required to meet the Department of Home Affairs residency requirements for this visa subclass, with regard to the number of days spent in Australia. Staying with friends outside of a formal lease arrangement during this time is not accepted by For border towns only (those that share a border with SA or NSW) these can be accepted at the discretion of the Victorian Government. The visa holder is not permitted to reside in any other state other than Victoria while holding a Victorian nominated subclass 188 visa. |
Business Innovation and Investment (Provisional) visa (subclass 188) – Significant Investor Stream
Term | Meaning |
---|---|
Eligible Complying Investments (Emerging Companies and Balancing) | To qualify for Victorian Government visa nomination, you must show that your complying investments will make a contribution to the Victorian economy. All complying balancing and Emerging Companies investments made by Victorian Government nominated Significant Investor Stream visa holders must either ensure that the:
Any eligible investment under the Complying Investment Framework that includes investment into businesses, infrastructure, projects or ventures located in Victoria is considered to be a Victorian Investment |
Eligible Victorian VCPE fund | Victorian based Early Stage Venture Capital Limited Partnership (ESVCLP), Venture Capital Limited Partnership (VCLP) or a Fund of Funds (AFOF). The fund must be registered with the Department of Industry, Science, Energy and Resources and comply with the current applicable Complying Investment framework. This includes eligible Private Equity funds. VC funds are considered “Victorian” if they have an operating business address in Victoria (not a home office – must be a reasonable commercial address that is fit for purpose) and have a dedicated employee resource located in Victoria. |
Establish a Residence in Victoria | The visa holder is required to purchase or rent a residential home as evidence of their residence in Victoria. Bond receipt documents and a formal lease may be required to evidence rental of a residence, formal title deed will be required to evidence property purchase. Victoria will also require Passenger Movement Records and utility bills for the period of residence. Primary visa holders or their spouse are required to meet the Department of Home Affairs residency requirements for this visa subclass, with regard to the number of days spent in Australia. Staying with friends outside of a formal lease arrangement during this time is not accepted by Victoria, as it does not demonstrate a financial commitment to continue living in Victoria. It is also not able to be sufficiently evidenced. For border towns only (those that share a border with SA or NSW) these can be accepted at the discretion of the Victorian Government. The visa holder is not permitted to reside in any other state other than Victoria while holding the subclass 188 visa nominated by Victoria. |
Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur Stream
Term | Meaning |
---|---|
Economic 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 Victorian Government encourages innovation and entrepreneurship. All factors particular to a case will be taken into consideration in our assessment. Applicants must also demonstrate that either:
|
Establish a Residence in Victoria | The visa holder is required to purchase or rent a residential home to facilitate their residence in Victoria. Bond receipt documents and a formal lease will be required to evidence rental of a residence, formal title deed will be required to evidence property purchase. Victoria will also require Passenger Primary visa holders or their spouse are required to meet the Department of Home Affairs residency requirements for this visa subclass, with regard to the number of days spent in Australia. Staying with friends outside of a formal lease arrangement during this time is not accepted by For border towns only (those that share a border with SA or NSW) these can be accepted at the discretion of the Victorian Government. The visa |