Victoria – Investor and Significant Investor streams open
Skilled and Business Migration Victoria have provided an information update on the SC 188B and 188C streams. The visa nomination programs are now open.
Those who received a Victorian government nomination for an Investor or Significant Investor visa prior to 1 July 2021 are not affected by these changes even if their visa is still in process.
There have been major changes to the program in line with the Department’s changes to the investment requirements for these subclasses.
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.
UPDATE
New Skilled Migration Program (2021-22) of Victoria
The Department of Home Affairs has made major changes to the Skilled Migration Program (2021-2022) of Victoria and has provided Victoria with 3,500 places for Subclass 190 Skilled Nominated Visa and 500 places for Subclass 491 Skilled Work Regional (provisional) Visa. The program is open to new Registrations of Interest (ROI) from 07 July 2021.
Major modifications to the Skilled Migration Program this year:
- No minimum experience and hours worked requirement.
- Expansion in the list of target sectors to include health, medical research, life sciences, digital, agri-food, advanced manufacturing and new energy, emissions reductions and circular economy.
- An applicant for skilled 190 visa nomination must have STEMM (science, technology, engineering and mathematics) skills and a Skill Level 1 or 2 occupation. An applicant for skilled work regional 491 visa nomination must have STEMM skills and may also have a Skill Level 3 occupation.
For applicants who have submitted an interest in previous year’s program and were not selected, must submit a new ROI in the current program year.
If you need assistance, please book an appointment via our website.
Government of Victoria in relation to State Sponsored Migration
State Sponsored Migration update: 16/10/2020
The following information has been released by the Government of Victoria in relation to State Sponsored Migration:
The Department of Home Affairs has now confirmed that the State Sponsored Migration can continue to use our interim allocation places beyond 5 October.
Government of Victoria will continue nominating skilled and business migrants, until Government of Victoria fill our interim nomination places. If you have been selected to apply for a skilled visa, you can continue to submit your State Skilled Nominated Visa application past 5 October.
Government of Victoria had significant interest in both the skilled and business programs. The numbers below show that this continues to be a competitive process.
Victoria’s interim allocation for 2020-21 were:
– 600 places for skilled subclass 190
– 200 places for skilled subclass 491
– 400 places for the business innovation and investment program
Government of Victoria received:
– more than 2400 registrations of interest received from skilled migrants, and
– more than 480 application from business migrants.
UPDATE
Following the October 2020 budget, we would like to provide our readers with an up to date summary of 190 State Nominated Visa Programmes. We are hoping this summary will make it easier for you to consider your current position. As always, the information is subject to change without notice therefore it is paramount to seek professional advice.
If you need assistance, please book an appointment via our website.
Victoria is operating on a limited list of occupations at present. Those who submitted a Registration of Interest for Victorian State Visa Nomination on the Live in Melbourne website by 5pm AEST, 21 September 2020 are being considered for the nomination. Further details are to be announced soon.
https://liveinmelbourne.vic.gov.au/migrate/skilled-migration-visas/skilled-nominated-visa-subclass-190