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If you were nominated for your provisional business innovation or investor visa (subclass 188) before 1 July 2021, the information below outlines your requirements. When applying for the Permanent visa (subclass 888) nomination are required to meet all the relevant Department of Home Affairs’ visa requirements in addition to Victorian nomination requirements.

Select your visa stream from the list below. Find the date you were nominated to find out what requirements apply to you.

Please also review the nomination conditions form you signed at the time of your nomination for your obligations and requirements for your Permanent visa (subclass 888) application.

Date nominated Core nomination criteria Other requirements
1 Jan 2021 – 30 June 2022
  • Age <55
  • Vocational English
  • STEMM or MBA quals or business history
  • 65 points minimum
  • Business proposal
    • Must be innovative in either product or process
    • Must create at least 2 full time jobs in Victoria for the 2 years immediately preceding the Permanent visa (subclass 888) nomination application
      • Exempt if turnover >$1 million per annum for the 2 years immediately preceding the Permanent visa (subclass 888) nomination application.
    • Not eligible: property development, gift stores, convenience store, cafes or restaurants.
Exporting
  • Cannot engage in parallel exporting.
  • Exports must provide direct contribution to Victorian economy.
Change of business reqirement
  • Must seek advice from SBMP Relationship Managers prior to undertaking changed business activity.
Residence in Victoria
  • Must establish residence and live in Victoria.
1 July 2020 – 31 December 2020
  • Age <55
  • 80 points minimum
  • Business proposal
    • Business must support Victoria’s economic recovery and/or health response to the pandemic.
    • Must employ at least 1 full time employee for 1 year within 2 years prior to submitting Permanent visa (subclass 888A) nomination application.
    • Any commercial endeavour except small scale property development, small scale freight forwarding and warehousing, commodity and scrap metal export, passive investment.
Exporting
  • Cannot engage in parallel exporting.
  • Exports must provide direct contribution to Victorian economy.
Change of business requirement
  • Not required to advise SBMP of change in business.
Residence in Victoria
  • At least 46 weeks per year for 2 years prior to Permanent visa (subclass 888A) nomination application.
22 July 2019 – 30 June 2020
  • Age <55
  • 80 points minimum
  • Business proposal
    • Must employ at least 1 full time employee for 1 year within 2 years prior to submitting Permanent visa (subclass 888A) nomination application.
    • Any commercial endeavour except; small scale property development, small scale freight forwarding and warehousing, commodity and scrap metal export, passive investment.
    • Business must make a contribution to Victoria.
Exporting
  • Cannot engage in parallel exporting.
  • All exports must be 100% Victorian goods, including production, manufacture or last value add. This was repealed on 21 February 2020 and all impacted applicants were notified directly by email.
  • Applicants must demonstrate that export activities provide direct contribution to Victorian economy.
Change of business requirement
  • Not required to advise SBMP of change in business.
Residence in Victoria
  • At least 46 weeks per year for 2 years prior to Permanent visa (subclass 888A) nomination application.
1 Jan 2015 – 21 July 2019
  • Age <55
  • 65 points minimum
  • Business proposal
    • Any commercial endeavour except; small scale property development, small scale freight forwarding and warehousing, commodity and scrap metal export, passive investment.
    • Business must contribute to Victoria.
Exporting
  • Cannot engage in parallel exporting.
  • Exports must provide direct contribution to Victorian economy.
Change of business
  • Not required to advise SBMP of change in business.
Residence in Victoria
  • At least 46 weeks per year for 2 years prior to Permanent visa (subclass 888A) nomination application.
Date nominated Core nomination criteria
1 July 2021 – 30 June 2022
  • $2.5 million in Complying investment:
    • $500,000 (20%) in Victorian Venture Capital and Private Growth Equity Funds investing in start-up and small private companies. This must be invested in eligible Victorian Venture Capital funds, and
    • $750,000 (30%) in eligible managed funds or Listed Investment Companies (LICs) that invest in emerging companies, and
    • $1.25 million in balancing investment in managed funds or LICs that invest in eligible assets, including Australian listed securities, eligible corporate bonds or notes, annuities and real property.
  • Age <55
  • 80 points minimum
  • Must commit to living in Victoria for at least 2 years
  • No additional investment requirement
1 Jan 2021 – 30 June 2021
  • Designated investment of $1.5 million in TCV bonds
  • Age <55
  • 95 points minimum
  • Must live in Victoria for at least 2 years
  • Additional investment
    • $500,000 during Provisional visa (subclass 188B) period.
    • Must be held for 24 months prior to Permanent visa (subclass 888) nomination application.
    • Must be into Victorian based Early Stage Venture Capital Limited Partnerships (ESVCLP), Venture Capital Limited Partnerships (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 SIV VC investment framework.
22 July 2019 – 31 December 2020
  • Designated investment of $1.5 million in TCV bonds
  • Age <55
  • 65 points minimum
  • Must live in Victoria for at least 2 years
  • Additional investment
    • $500,000 during Provisional visa (subclass 188B) period.
    • Must be held for 12 months prior to Permanent visa(subclass 888) nomination application.
    • Eligible additional business or investment may include:
      • An investment via a managed fund company/fund manager/brokerage firm with operations (an active office and employees) at a Victorian address.
      • Investment in real estate will also be considered, and must not be for personal or family use of the applicant.
      • Purchase of a Victorian private company is also considered to meet this requirement.
      • Shares in a Victorian Private Company will be considered, should this increase the value of the company (not purchasing shares from an existing shareholder).
      • Shares purchased in public companies (ASX listed etc) can be made through a Victorian fund management company/broker only.
    • Investments into Family Trusts do not meet this requirement.
    • Provisional visa (subclass 188B) holders can change the investment activities throughout, provided they continue to meet all requirements.
    • Investments using loans cannot be used to meet the additional investment requirement.
1 July 2015 – 21 July 2019
  • Designated investment of $1.5 million in TCV bonds
  • Age <55
  • 65 points minimum
  • Additional investment
    • Additional investment or business activity of any amount must be made within 36 months of arrival in Australia.
    • If investment is made into real-estate, deposits on property are not accepted – only full payment.
    • Property must be for investment purposes and not resided in by the visa holder or their family.
    • Can include stocks, real estate or investment into a company.
Date nominated Core nomination criteria
1 July 2021 – 30 June 2022
  • $5 million in Complying investment:
    • $1 million (20%) in Victorian Venture Capital and Private Growth Equity Funds investing in start-up and small private companies. This must be invested in eligible Victorian Venture Capital funds, and
    • $1.5 million (30%) in eligible managed funds or Listed Investment Companies (LICs) that invest in emerging companies, and
    • $2.5 million in balancing investment in managed funds or LICs that invest in eligible assets, including Australian listed securities, eligible corporate bonds or notes, annuities and real property.
  • Commit to live in Victoria. Applicant and family cannot live in other states or territories.
1 November 2020 – 30 June 2021
  • $5 million in Complying investment:
    • $500,000 (10%) in Venture Capital and Growth Private Equity funds which actively sourced investments in Victoria or the VCPE fund provider maintained an office in Victoria, and
    • $1.5 million (30%) in emerging companies with Victorian investment included in the chosen investments or the managed fund provider maintained an office in Victoria, and
    • $3 million (60%) in balancing investment with Victorian investment included in the chosen investments or the managed fund provider maintained an office in Victoria.
  • Commit to live in Victoria. Applicant and family cannot live in other states or territories.
1 July 2015 – 31 October 2020
  • $5 million in Complying investment:
    • $500,000 (10%) in Venture Capital and Growth Private Equity funds which actively sourced investments in Victoria or the VCPE fund provider maintained an office in Victoria, and
    • $1.5 million (30%) in emerging companies with Victorian investment included in the chosen investments or the managed fund provider maintained an office in Victoria, and
    • $3 million (60%) in balancing investment with Victorian investment included in the chosen investments or the managed fund provider maintained an office in Victoria.
  • Residence requirement: At least 50% of time spent in Victoria (while in Australia).
Earlier than 1 July 2015
  • $5 million in Complying investment:
    • $5 million (minimum of $1.5 million) in TCV bonds over four years, or
    • $5 million (minimum $1.5 million) in a Victorian based complying private company, or
    • $5 million into a complying managed fund with Victorian investment included in the fund’s chosen investments.

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