Victoria 188 Visa State Nomination Requires extra points
Melbourne has one of the largest migrant communities of any area in Australia. Due to demands on the local infrastructure, the State Government has decided to cool the inflow of migrants at this time.
While they are still accepting investor visa cases, they have added some barriers to entry to the State of Victoria.
1) Business Investor
The biggest change to the Department of Home Affairs requirements is the standard of education they request from any potential business investors.
You must have completed either:
- At least a bachelor’s degree in a STEMM field (Science, Technology, Engineering, Mathematics or Medicine), or
- A Masters of Business Administration (MBA).
If you do not hold either of these, you must have relevant business history.
If you do not have a relevant qualification, you must have at least 3 years of experience in:
- Health, medical research and life sciences
- Advanced manufacturing
- New energy, emissions reduction and circular economy
2) A$2.5m Investor
Victoria has decided to ignore the minimum 65 points as recommended by the Federal Government and has elected to set the minimum entry-level to 80 points.
- be under 55 years of age,
- intend to live in Victoria,
- be able to make a complying investment of at least A$2.5 million in Victoria,
- have scored at least 80 points,
3) Significant Investor
The most straightforward of all investor streams in Victoria. However, the department examines the investment portfolio to ensure maximum benefit to the State of Victoria.
To be eligible to apply for the State of Victoria Significant Investor stream, you must:
- intend to live in Victoria,
- be able to make a complying investment of at least A$5 million in Victoria.
In a sense, the State of Victoria is outsourcing due diligence on the viability of a start-up company. If the Entrepreneur does not attract the support of one of the panels then Victoria will not accept the business as viable.
The Victorian Government is partnering with a select group of reputable partners to support the identification of suitable talent for subclass 188E visa nomination. All partners have a deep knowledge of the Victorian start-up sector and are well placed to identify and recommend the best talent. Recommended individuals will be start-up owners whose business is considered to have the capacity for growth.
Hatch Quarter is an innovation hub bridging the gap between industry, technology and human through being data-driven, harnessing the value of diversity and inclusion, and connecting local and international communities.
Melbourne Accelerator Program
The Melbourne Accelerator Program (MAP) was launched in 2012 as the first University-aligned accelerator in Australia. Powered by the University of Melbourne, MAP has supported over 240 start-ups that have raised over $250 million in funding, generated over $250 million in revenue, and created over 1,400 jobs.
Translating Research at Melbourne
Translating Research at Melbourne (TRAM) is Australia’s premier University-based research impact accelerator program. Since launching in 2016, TRAM has seen over 700 participants complete its programs and workshops, empowering researchers to change how they approach research problems to achieve real-world impact.
LaunchVic is Victoria’s lead start-up agency. The Victorian Government established them in March 2016 as an independent agency to fuel the growth of Victoria’s start-up ecosystem. They invest in Victorians, so they have the confidence and capability to create, scale and invest in start-ups.