Victoria’s Business Innovation and Investment Program (BIIP) opens on 4 January 2021

Victoria’s 2020-21 business and investor visa nomination program (subclass 188 and 132) will open on  4 January 2021.

Update to Victoria’s Business Talent (Permanent) visa (subclass 132) nomination program
In December 2020, the Commonwealth Department of Home Affairs announced the Business Talent (Permanent) visa (subclass 132) will no longer be open to new visa applications from 1 July 2021.

To ensure all applications are finalised before the visa is repealed, the Victorian Government’s Skilled and Business Migration program will not accept new nomination applications from 1 April 2021.

Victoria’s standard processing timeframe for subclass 132 nomination applications is three calendar months. If you’re seeking Victorian nomination for subclass 132 visa, your application must be submitted by 5pm (AEDT) Wednesday, 31 March 2021.

The coronavirus pandemic has significantly changed the economic and social environment for migration policies and programs, but well-targeted migration policies and programs remain essential to Victoria’s economic recovery.

Victoria’s Business Innovation and Investment Program (BIIP) opens on 4 January 2021

Victoria’s full 2020-21 business and investor visa nomination program (subclass 188A, 188B, and 188E streams and subclass 132A and 132B streams) will re-open at 10am AEST on Monday, 4 January 2021. Applications for Significant Investor (subclass 188C) visa nomination opened on Monday 30 November.

The Commonwealth Department of Home Affairs has allocated the Victoria Government another 1,350 visa nomination places, in addition to the 400 places as part of the interim program. Victoria’s total number of places for the Business Innovation and Investment Program (BIIP) is 1,750 for the 2020-21 program year.

Changes to nomination criteria

The BIIP will reopen on 4 January 2021 with changes to the state nomination criteria so it’s important that you review the latest requirements.

The new criteria strengthen Victoria’s ability to select the world’s best businesspeople and investors who will:

  • a) create new jobs for Victorians
  • b) boost innovation in strategic sectors (digital technologies, advanced manufacturing, health and life sciences, agri-food, new energy and emissions reduction, circular economy and priority precincts)
  • c) generate forward-looking businesses utilising their qualifications in STEMM (science, technology, engineering, mathematics and medicine) fields.

To have the best chance of success, it is important that your application is specific about the way your business or investment will assist Victoria’s economic recovery or health response to the pandemic.

Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories. Book a meeting today for a briefing with our Registered Migration Agents in Melbourne to find more about your visa options.

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