Queensland’s NIV Nomination Criteria Released: Three Key Talent Categories Favoured

Australia’s immigration policy is once again evolving. As part of its strategic migration planning, the Australian Government will launch the new National Innovation Visa (NIV) by the end of 2024. This visa will replace the current Global Talent Visa (subclass 858) and offer a new permanent residency pathway for top-performing entrepreneurs, major investors, and globally recognised researchers. On 7 December, the Department of Home Affairs updated the official guidelines for the 858 visa and formally opened the EOI (Expression of Interest) application process.

To apply for the 858 visa, candidates must be nominated by an eligible individual or organisation, including an Australian citizen, permanent resident, eligible New Zealand citizen, or an Australian organisation of national reputation. Eligible organisations include federal, state, or territory government bodies. Recently, the Queensland Government became one of the first to publish detailed nomination criteria for the 858 visa, providing valuable direction for aspiring migrants. The key requirements are outlined below:

1. Entrepreneur Stream

(a) Department of Home Affairs Key Indicators

Applicants must provide compelling evidence that their entrepreneurial venture in Australia has strong potential for commercialisation. Projects with established links to federal, state or territory Innovation Hubs will be viewed favourably.

(b) Queensland Criteria Details

Target Applicants: Entrepreneurs who have already established a business or are planning to launch a new venture. Applicants must demonstrate a clear plan to commercialise their product or service in Queensland or to expand their existing operations.

Investment Benchmark: A minimum investment of AUD 1 million in Queensland is required. This can be achieved through starting a new business, expanding an existing one, or entering into a joint venture. Holding recognised intellectual property (e.g. international patents) is highly valued. Applicants with partnerships or collaborations with Queensland Innovation Hubs will also be prioritised.

(c) Required Supporting Documents

• Business Presence Evidence: Proof of commercial operations in Queensland, such as company registration, office lease agreements, or business address documentation with rental receipts.
• Startup Expenditure Evidence: Records of early-stage expenses, including feasibility studies, consultancy fees, market research costs, permit applications, and regulatory approval payments.
• Employee Hiring Evidence: At least one employment contract for a staff member in Australia, such as a business development manager or R&D specialist.
• Partnership Documentation: Memorandums of Understanding (MOUs) or joint venture agreements with Australian partners. Contracts with Queensland suppliers, distributors or customers are also required.
• Innovation Hub Participation: Evidence of participation in Innovation Hubs or industry organisations supported by the Queensland Government, including incubators or accelerator programs.
• Funding Evidence: Proof of AUD 1 million in available funds, which can be self-funded, venture capital (VC), institutional investment, or government grants.

(d) Supplementary Evidence

• Business Growth Metrics: Financial data demonstrating business performance, such as annual revenue, market share growth, or consistent profits in competitive sectors.
• Commercial Agreements: MOUs, joint venture agreements, or supply chain contracts supporting business expansion.
• Funding Acquisition Evidence: Documentation showing capital raised from VC firms, angel investors, institutions, or government innovation programs.
• Industry Recognition: Awards, media coverage, government endorsements, or accelerator/incubator program participation certificates.

2. Innovative Investor Stream

(a) Department of Home Affairs Key Indicators

Applicants must present solid evidence of a strong background in innovative investment activities, along with a successful investment track record in innovation-led projects.

(b) Queensland Criteria Details

Investor Profile: Applicants must be innovation-driven investors with a demonstrable history of supporting innovative ventures.

Investment Amount & Duration: Upon visa approval, a minimum AUD 5 million investment in Queensland is required, with a commitment of at least two years. The investment must fall into one of the following categories and structures:

• Private Equity
• Venture Capital
• Research and Development (R&D)
• Asset Management
• Co-investments

(c) Required Supporting Documents

Proof of Funds

• Evidence of AUD 5 million held in an Australian bank account under the applicant’s registered business or company name.
• A clear and structured investment plan outlining how the funds will be directed into approved Supported Funds after visa approval.

Investment Track Record

• Documentation of prior investments in private equity, VC, R&D, co-investments or asset management.
• Evidence showing that previous investments were in high-growth sectors, especially those classified as Priority Sector 1 or 2 by the Australian Government.
• Case studies of successful exits or returns, such as IPOs, acquisitions, or major funding rounds, demonstrating real contributions to economic growth.
• Evidence of equity holdings, board appointments or executive roles in startups, scaleups, or listed companies.
• Third-party endorsements such as reference letters from investment firms, VCs, government-backed funds, or reputable co-investors.

(d) Priority Investment Sectors

Priority Sector 1: Critical Technologies, Renewables and Low Emissions Technologies

Priority Sector 2: Agri-food and AgTech, Education, Defence and Space, Financial Services and FinTech, Infrastructure and Transport, Resources

3.Elite Athletes and Creative Talent Stream

(a) Target Talent

This stream focuses on top-tier individuals with the potential to make significant contributions to major events (such as the 2032 Brisbane Olympics) or to drive growth in the creative industries, including film, AI, and gaming.

(b) Basic Requirements

• All applicants must demonstrate internationally recognised excellence in their field, supported by a consistent record of achievements.
• Applicants must commit to participating in Trade and Investment Queensland’s (TIQ) Global Connect Program and actively engage with the local industry ecosystem.

The Queensland Government’s detailed nomination criteria for the NIV visa provides a clear and structured pathway for a wide range of talent. For those dreaming of starting a new life or building a career in Queensland, now is the perfect time to learn about the requirements and begin preparing a strong application.

If you have any questions or would like professional assistance, please feel free to contact us at Riverwood Migration (Email: [email protected]). We are committed to providing transparent, expert migration services to help you achieve your dream of moving to Australia.