Important Changes to Victoria's
Business Innovation & Investor Program
From 22 July 2019, potential applicants will be able to lodge a nomination application for Victoria's Business Innovation and Investor Program (BIIP) visas without having to wait for an invitation from Victoria.
Victoria is no longer issuing invitations to apply nomination.
If an applicant has already submitted an Expression of Interest (EOI) through the Department of Home Affairs’ SkillSelect system, but has not received an invitation to apply for Victorian nomination, he/she should lodge a nomination application directly from 22 July 2019.
There is no need to submit a new EOI.
There are new nomination criteria for some BIIP visas from 22 July 2019 onwards:
188 Innovation (188A visa) nomination applicants will need to demonstrate a minimum of 80 points (used to be 65 points)
188 Innovation (188A visa) nomination applicants must commit to employing at least 1 full-time employee in their main business
Any applicant proposing to engage in export activity will need to demonstrate that all export products will be 100% manufactured in Victoria
188 Investor (188B visa) nomination applicants must demonstrate that they will make an additional investment of at least A$500,000 in Victoria during the provisional visa period. The investment must be held for no less than 12 consecutive months immediately preceding the Business Innovation and Investment (Permanent) visa (subclass 888) Investor Stream nomination application
188 Investor and Significant Investor (188B and 188C visa) applicants will be required to demonstrate that they have A$200,000 available for migration purposes (consistent with 188 Innovation stream requirements)
Please note that existing visa holders and applicants who have received an invitation and applied for nomination before 22 July 2019 will not be subject to these changes.
Victoria is the most popular Australian state for business and investor migrants.
The capital city, Melbourne, offers the perfect blend of economic strength and business opportunity, with a lifestyle and education system that is envied around the world.
Victorian nominated investor and business migrants have access to a range of dedicated services that support their investment and migration objectives.
Book a FREE consultation with RACC for your inquiries regarding Victoria's Business Innovation and Investor Visas.