Important Changes to Victoria’s Business Innovation & Investor Program

Visabusiness

From 22 July 2019, you will be able to lodge a nomination application for Business Innovation and Investor Program (BIIP) visas without having to wait for an invitation from Victoria.

Victoria is no longer issuing invitations to apply for nomination. If you have already submitted an Expression of Interest through the Department of Home Affairs’ SkillSelect system, but have not received an invitation to apply for Victorian nomination, you should lodge a nomination application directly from 22 July 2019. There is no need to submit a new EOI.

There will also be new nomination criteria for some BIIP visas from 22 July 2019 onwards:

  • 188 Innovation nomination applicants will need to demonstrate a minimum of 80 points (using the Department of Home Affairs’ SkillSelect Points test)
  • 188 Innovation nomination applicants must commit to employ at least one (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 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 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.

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