Select your visa below to learn more about the meanings of specific terms
Business Innovation and Investment (Permanent) visa (subclass 888) - Business Innovation Stream
Term | Meaning |
---|---|
Functional English | The Victorian Government uses the Department of Home Affairs’ definition of English language levels and corresponding evidence. This information can be found here: Evidence required (subclass 888): https://immi.homeaffairs.gov.au/help-support/meeting-our-requirements/english-language/functional-english |
Eligible English Language Training | Any English language course that is fully paid for by the Adult Migrant English Program (AMEP). The course must be completed and passed by the date of visa nomination application for the subclass 888 visa. You can complete any course under the AMEP. Either the spouse or the primary visa holder may complete the English language training, regardless of which individual is the primary applicant for the subclass 888 visa nomination.
IMPORTANT INFORMATION You have 1 year to commence AMEP classes from the date of visa commencement. You have unlimited hours and a five-year period to complete your studies (with extension of time options available). Further information about the AMEP can be found of the Department of Home Affairs website. |
High Performing Victorian Business | A high performing Victorian business must evidence both
Casual workers and/or contractors are excluded. |
Eligible Full time Employee | The Skilled and Business Migration Program uses the Department of Home Affairs’ definition of Full-Time: It is policy that ‘full‑time’ be regarded as referring to employees who normally work the agreed or award hours for employees in that occupation. Full‑time is typically 38 hours per week. If agreed/award hours do not apply, it is policy that full‑time be regarded as meaning “not less than 30 hours a week”. Pro‑rata equivalent of the prescribed number of employees may be accepted for periods of less than a full fiscal year, particularly where businesses experience seasonal and/or market fluctuations. For example, four (full‑time) workers employed for 6 months may be considered equivalent to two (full‑time) workers employed for a full fiscal year. (Note that paid holidays may be counted as employment.) Full‑time may also include, for example, positions subject to part‑time and/or job‑sharing arrangements provided the position is a discrete, identified job and the total number of hours worked by occupants in that position are at least 30 hours a week. Casual employment, contractors/ other employees not paid a wage or salary are not accepted. Evidence required:
These documents may include:
An eligible employee:
|
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. You may also be required to provide Passenger Staying with friends outside of a formal lease arrangement during this time is not accepted, as it does not demonstrate a financial commitment to continue living in Victoria. For border towns only (those that share a border with SA or NSW) evidence of residency in Victoria will 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 Victorian Nominated 188 visa. Primary visa holders or their spouse are also required to meet the Department of Home Affairs’ residency requirements for this visa subclass. |
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. |
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 migrant is not competing against the trademark owner in the same market for the same clientele. It also encourages the migrant to interact with brand owners and identify areas they could collaborate for growth into new markets. |
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. |
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 Turnover | Turnover of the eligible business/es is calculated including GST and on a rolling 12-month basis. The Victorian Government uses the same definition of annual turnover as the Department of Home Affairs. |
Highly Relevant Business Experience: | Applicants for subclass 188a Business Innovation visa nomination must have highly relevant business experience in the area of their proposed business. Highly relevant business experience may include similar commercial stakeholders, purpose, functions, objectives or products and services in the proposed business as the applicant’s previous business/es. This information must be included in the applicant’s SkillSelect EOI. |
Business Innovation and Investment (Permanent) visa (subclass 888) – 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 (Permanent) visa (subclass 888) – 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 (Permanent) visa (subclass 888) – 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 |