The updated Victoria Business Innovation and Investment Program has introduced changes to venture capital requirements for SignificantInvestor(188C) and Investor(188B) visa streams nomination and also modifies the Business Innovation Extension stream nomination application process.
- Significant Investor(188C) and Investor(188B) visa streams
To qualify for Victorian Government visa nomination, the applicant must comply with the Venture Capital requirement and show that the complying investments will make a contribution to the Victorian economy. The applicants nominated under the Investor or Significant Investor visa streams are permitted to invest in all registered, eligible Victorian Venture Capital funds. For the purposes of venture capital requirement, the following are now eligible complying investment, either registered or conditionally registered with the Department of Industry, Science, Energy, and Resources:
- Victorian Venture Capital Limited Partnerships (VCLP) and
- Early Stage Venture Capital Limited Partnerships (ESVCLP),
This is applicable to all the applicants nominated on or after 1 July 2021, for a Significant Investor Stream or Investor visa stream.
- Business Innovation Extension stream
The nomination application for the Business Innovation Extension stream visa must be submitted in the name of the intended primary visa holder, who can be the secondary applicant on the current visa and not necessarily be the current 188 primary visa holder.