Victoria welcomes people with business and investment skills who wish to bring their talent and
ideas, establish, develop and manage a new or existing business or make a designated
investment in Victoria. State nomination for this visa is managed by the Victoria Government
and the Australian Government’s Department of Home Affairs.
Eligibility requirements:
- Must be under 55 years of age
- Must be nominated by a state or territory agency and meet that state or territory’s criteria
- Must have an overall successful business career
- Must have an ownership of a business with an annual turnover of $750K for at least 2 out of the last 4 fiscal years.
- Must have a personal and business net asset of $1.25 million
- Must have a genuine and realistic commitment to establish or participate in a qualifying business in Australia
- Must have functional English or pay VAC
- Must meet character and health requirements
Business Innovation Stream
- There are legislative requirements that applicants must adhere to depending on when their invitation was received
Before 1 July 2021
- Applicants must have a personal and business net asset of $800K
- Applicants must have a business turnover of at least $500K for 2 out of 4 Fiscal years
- Applicants must have a visa that’s been valid for 4 years and 3 months
After 1 July 2021
- Applicants must have a personal and business net asset of $1.25 million
- Applicants must have a business turnover of at least $750K for 2 out of 4 Fiscal years
- Applicants must have a visa that’s been valid for 5 years
Nominations
- Applicants must have 3 years’ experience operating a business in target sector which
includes:- Health, medical research, and life sciences
- Digital
- Agri-food
- Advanced manufacturing
- New energy, emissions reduction and circular economy
- No requirement to establish or purchase business in the target sector.
- Applicant must provide an innovative business proposal
Nomination Criteria for Victoria
- Applicant must be under 55 years of age
- Applicant must have STEMM qualification or MBA or relevant business history in a target sector
- Applicants must follow the Department of Home Affairs legislative requirements for the assets and business turnover requirements
- There are no business investment requirements for applicants in Victoria
Extensions
- Applicants must have the stream for at least 3 years
- At the time of lodgement, the applicant must have met one of the following requirements:
- Applicant must hold a subclass 188 visa
- Applicants must have held a subclass 188 visa that was granted before 1 July 2019 AND application is made no more than 3 months after the end of the concession
- Applicants must have held, during a concession period, a subclass 188 visa in the Business Innovation Extension stream that was granted before 1 July 2019 AND the application is made no more than 3 months after the end of the concession period
Investor stream
Victoria
- Must be under the age of 55
- DOHA requirements regarding background, investment background, assets & complying investments
Significant investor stream
Requirements if invitation received before 1 July 2021
- Significant investment of at least $5 million compiling of:
- AUD500,000 in venture capital and growth
- At least AUD1.5 million in approved management funds
- AUD3 million in managed funds
Requirements if invitation received after 1 July 2021
- Significant investment of at least $5 million compiling of:
- AUD1 million in venture capital and growth
- At least AUD1.5 million in approved management funds
- AUD2.5 million in managed funds
Entrepreneur stream
Requirements if invitation received before 1 July 2021
- Have received funding of at least $200,000 from one of the following entities:
- Commonwealth government agency
- State or territory government agency
- Publicly funded research or innovation organisation
- Higher education provider specified as a Table A or Table B provider under Part
- 2-1 of the Higher Education Support Act 2003; or
- Investor registered as an Australian Venture Capital Limited Partnership or Early
- Stage Venture Capital Limited Partnership
Requirements if invitation received after 1 July 2021
- Visa valid for 5 years
- Under 55 years of age
- $200K funding is required for applicants in Victoria
- Requires a business proposal