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888 VIC

You must hold a Victorian nominated visa for at least three (3) years, either:

 

Investment in Victoria

You must show you have maintained a complying investment of at least:

  • $5 million for 188C visas
  • $2.5 million for 188B visas.

 

[1] Eligible Complying Investments (Emerging Companies and Balancing)

To qualify for Victorian Government visa nomination, you must show that your complying investments will make a contribution to the Victorian economy. All complying balancing and Emerging Companies investments made by Victorian Government nominated Investor Stream visa holders must either ensure the:

  • Victorian investment is included in the chosen investments, or
  • the managed fund provider maintains an office in Victoria.

Any eligible investment under the Complying Investment Framework that includes investment into businesses, infrastructure, projects or ventures located in Victoria is considered to be a Victorian Investment.

 

[2] Eligible Victorian VCPE funds

Victorian based Early Stage Venture Capital Limited Partnership (ESVCLP), Venture Capital Limited Partnership (VCLP) or a Fund of Funds (AFOF). The fund must be registered with the Department of Industry, Science, Energy and Resources and comply with the current applicable Complying Investment framework. This includes eligible Private Equity funds.

VC funds are considered “Victorian” if they have an operating business address in Victoria (not a home office – must be a reasonable commercial address that is fit for purpose) and have a dedicated employee resource located in Victoria.

 

Live in Victoria

You must prove you lived in Victoria.

  • Establish a Residence in Victoria

The visa holder is required to purchase or rent a residential home as evidence of their residence in Victoria. Bond receipt documents and a formal lease will be required to evidence rental of a residence, formal title deed will be required to evidence property purchase. Victoria will may also require Passenger Movement Records and utility bills for the period of residence.

Staying with friends outside of a formal lease arrangement during this time is not accepted by Victoria, as it does not demonstrate a financial commitment to continue living in Victoria. It is also not able to be sufficiently evidenced.

For border towns only (those that share a border with SA or NSW) these can be accepted at the discretion of the Victorian Government.

The visa holder is not permitted to reside in any other state other than Victoria while holding a Victorian nominated subclass 188 visa.

 

You met your nomination obligations

You must have:

  • met the Victorian nomination conditions for the provisional visas, and
  • met the conditions that you signed in the Nomination Conditions Form.

 

Maintain contact and complete surveys

You must:

  • notify Victorian Government of any changes to your contact details, and
  • participate in any surveys that the Victorian Government may conduct.

 

You must show that you held a complying investment of at least A$5 million (held for the duration of the provisional visa). This comprised of:

  • 20 per cent in eligible Victorian Venture Capital and Private Growth Equity funds (VCPE) investing in start-up and small private companies (A$1,000,000)
  • 30 per cent in eligible managed funds or Listed Investment Companies (LICs) that invest in emerging companies ($1,500,000)
  • 50 per cent in balancing investments in managed funds or LICs that invest in eligible assets, including Australian listed securities, eligible corporate bonds or notes, annuities and real property (A$2,500,000).

All complying investments must demonstrate contribution to the Victorian economy.

 

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