Victoria’s Business Innovation and Investment Program (BIIP) 2021-2022

Update: State requirements for Business visas

Victoria’s provisional Investor stream (188B) and provisional Significant Investor stream (188C) visa nomination programs for 2021-22 are now open.

The major changes to the 2021-22 program are:

Investor (188B)

  • Complying investments of A$2.5million (held for the duration of the provisional visa)
  • Minimum SkillSelect points score of 80
  • No requirement to make any additional investments
  • No requirement to invest in Designated Investment Bonds
  • All complying Venture Capital and Private Growth Equity funds (VCPE) investments must be made into Victorian based funds.

Significant Investor (188C)

  • Updated Complying Investment Framework for complying investments of A$5 million (held for the duration of the provisional visa)
  • All complying Venture Capital and Private Growth Equity funds (VCPE) investments must be made into Victorian based funds.

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 full 2021-22 business and investor visa nomination program (subclass 188A, 188B, and subclass 188C visa nomination are open.

Previous changes to nomination criteria

The VIC BIIP latest requirements were.

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.

Victoria’s 2021-22 business and investor visa nomination program (subclass 188 ) are open for the 2021-2022 program.

Update to Victoria’s Business Talent (Permanent) visa (subclass 132) nomination program
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.

If you received Victorian government nomination for an Investor or Significant Investor visa prior to 1 July 2021, these changes do not affect you. This includes where you are waiting for your visa to be processed by the Department of Home Affairs.

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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