Victoria’s 2022-23 Business Innovation and Investment Program is now open to applicants living in Victoria and overseas.
The program provides Business and Investor migrants with a pathway to permanent residency in Victoria.
An Expression of Interest (EOI) through the Commonwealth’s Department of Home Affairs SkillSelect system will be required before applying for Victorian visa nomination. The program provides four streams for applicants to be nominated by the Victorian government:
1. Business Innovation stream (subclass 188A) (Provisional) visa
A provisional visa for business people with a track record of operating a successful business who want to establish, manage, or grow an innovative business in Victoria.
Stay: Up to 5 years
Stay longer: 3 years after you have this visa, you can apply for permanent residence.
Cost: No fee
Nomination processing time: 20 business days
2. Investor stream (subclass 188B) (Provisional) visa
A provisional visa for high net-worth individuals who are willing to invest at least A$2.5 million into complying investments in Australia and maintain investment activity in Victoria.
Stay: Up to 5 years
Stay longer: 3 years after you have this visa, you can apply for permanent residence.
Cost: No fee
Nomination processing time: 20 business days
3. Significant Investor stream (subclass 188C) (Provisional) visa
A provisional visa for high net-worth individuals who are willing to invest at least A$5 million into complying investments in Australia and want to maintain investment activity in Victoria.
Stay: Up to 5 years
Stay longer: 3 years after you have this visa, you can apply for permanent residence
Cost: No fee
Nomination processing time: 10 business days
4. Entrepreneur stream (subclass 188E) (Provisional) visa.
A visa for high quality start-up talent recommended to us by Authorised Recommending Partners.
Stay: Up to 5 years
Stay longer: 3 years after you have this visa, you can apply for permanent residence.
Cost: No fee
Nomination processing time: 20 business days
For further information about this announcement or to discuss your particular immigration situation, please get in touch with our friendly migration agents and support team to arrange an online consultation. Our contact details are here.
