For those who have been considering to establish a new or existing business in Victoria, there are new criteria to be met that has taken effect in January 2021. All business and investment activities must contribute to Victoria’s economic recovery or health response to be approved for visa nomination.
The new visa nomination rules for Business Innovation and Investment (Provisional) visa (subclass 188A) – Business Innovation Stream, amongst others, are:-
· English Language – must have vocational level of English (or equivalent)
· Education/Business History – must have completed either a bachelor’s degree in a Science, Technology, Engineering, Mathematics or Medicine (STEMM) field, or an MBA; or relevant business experience in certain industries
· Business Activity – must proposed to engage in eligible business activity that contribute to product and process innovation
· Employees and Turnover – must employ no less than 2 full-time employee who are Australian citizens or PR for minimum 24 months, and must not be your family members
· Living in Victoria – must establish a residence and reside in the State of Victoria
For Investor Stream (subclass 188B), the following are the new visa nomination rules:-
· Investment in Victoria – must make a designated investment of at least A$1.5 million
· Additional Investment Activity – must make an additional investment of at least A$500,000 in Victoria during provisional visa period
· Living in Victoria – must establish a residence and reside in the State of Victoria
To understand more, please contact our Business & Development Migration Specialist, Ms Yvonne Chan for a FREE & PRIVATE CONSULTATION at +614-5077 2380 or email to: info@auslife.com
