Important Changes to Victoria’s Business Innovation and Investment Program
From 22 July 2019, Victoria’s Skilled & Business Migration Program (SBMP) will remove the invitation process for all Business Innovation and Investor Program (BIIP) streams.
Updates to the minimum eligibility criteria for some visa subclasses will also be updated from 22 July 2019, including:
- A minimum Department of Home Affairs’ SkillSelect Points test of 80 will be required for all 188 Innovation stream applicants
- 188 Innovation nomination applicants must agree to employ at least one (1) full time employee in their main business
- Applicants proposing to engage in export activity must demonstrate that the business will export 100% Victorian manufactured products only
- 188 Investor applicants must agree to make a minimum 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 have A$200,000 available for migration purposes (consistent with 188 Innovation stream requirements)
Victoria’s Skilled & Business Migration Program will only accept visa nomination applications that meet these new criteria.
Please note that existing visa holders and applicants who have applied for nomination before 22 July 2019 will not be subject to these changes.