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The Migrant Innovation Northern Territory (MINT) program


The Migrant Innovation Northern Territory (MINT) program

The Migrant Innovation Northern Territory (MINT) program is an initiative owned and managed by the Darwin Innovation Hub and Paspalis Asset Management. This program assists overseas nationals who have demonstrated their commitment to supporting the region’s innovation hub and start up incubator, the Darwin Innovation Hub by investing in venture capital. The program is supported by the NTG and has successfully facilitated the creation of the NT’s first venture capital fund. 

The first MINT program was successfully completed in 2019, resulting in the Paspalis Innovation Investment Fund being opened and raising over $25m establishing the first venture capital fund in the Northern Territory. 

 The Migration Innovation Northern Territory 2019/20 program has commenced. It has a total of 50 places in the 2019-20 fiscal year, and the NT government guarantee requirements will remain unchanged until June 30, 2020. The total number of 50 Visa Nominations per Program Year may be any combination of the 3 Visa Types subject to the following maximum numbers by Visa Type: 

Visa Type  Maximum Number 
Business Innovation and Investment Program (subclass 188 or 132) 

Visa Nomination 

Skilled Work Regional (Provisional) (currently Subclass 491) Visa 

Nomination 

50 
Permanent Visa Nomination under the General Skilled Migration 

Program (currently Subclass 190 Visa Nominations) 

50 

 No more than one Nomination per Applicant is provided, i.e. should an Applicant require a second nomination, it will NOT be provided. 

Nominations for each Program Year cannot be submitted after 4.00.pm CST on the last Business Day of the relevant Program Year. Unused Nominations do not carry over into any subsequent Program Year or any potential future MINT Programs. 

 

2. MINT CRITERIA 

To be eligible for Northern Territory Government nomination MINT program participants must meet the following criteria: 

Common Criteria 

Applicants must: 

  • Demonstrate they will live in the Northern Territory (i.e. will reside in the Northern Territory) and meet the standard genuine intention criteria put in place for all applicants; 
  • Demonstrate they have a clear understanding of what the criteria are and what their obligations are; 
  • Have sufficient funds of their own for settlement; 
  • Provide fulsome and accurate applications; 
  • Must disclose all relevant information; 
  • Not have Links to Other Regions of Australia, unless they also have Strong Links to the Northern Territory; 
  • If they do not have Strong Links to the Northern Territory they may only be eligible for a provisional visa. 
  • Meet Australian Government threshold criteria; and 
  • Submit Nomination applications though the relevant application process within 2 months of signing an agreement with Paspalis Group. 

Skilled migration specific criteria Applicants must: 

  • Must not have Strong Links to Other Regions of Australia, unless they also have Strong Links to the Northern Territory; 
  • Meet Australian Government threshold criteria for the relevant visa; 
  • Be nominated for an occupation on the Northern Territory Skilled Occupation Priority List (NT SOPL) AND on the relevant Australian Government occupation list; and 
  • Must NOT, in the 5 years immediately prior to entering into a Placement Services Agreement, have been an International Student or Graduate visa holder, unless they have Strong Links to the Northern Territory 

the Northern Territory Skilled Occupation Priority List 

https://nt.gov.au/ data/assets/pdf_file/0006/490335/nt-skilled-occupation-priority-list.pdf 

 

Business migration specific criteria Applicants must: 

  • Must not have Strong Links to Other Regions of Australia, unless they also have Strong Links to the Northern Territory; 
  • Must meet Australian Government threshold criteria for the relevant visa; 
  • Must NOT, in the 5 years immediately prior to entering into a Placement Services Agreement, have been an International Student or Graduate visa holder, unless they have Strong Links to the Northern Territory; 
  • Must propose and commit to undertaking a business/investment activity in the Northern Territory which is in-line with the visa stream they are applying for, including if necessary being a Qualifying Business, and which meets ‘Benefit to the Northern Territory’ criteria; 
  • Have undertaken their own business research.

Visa Categories of the MINT Program 

  • Skilled Nominated visa (subclass 190) 
  • Skilled Work Regional (Provisional) visa (subclass 491) 
  • Business Innovation and Investment (provisional) visa (subclass 188) 
  • Business Talent (Permanent) visa (subclass 132) 

* Definition of specific concepts 

International Student: Those who currently holds or has held a student visa in Australia Other regions of Australia: other Australian state or territory rather than the Northern Territory 

Qualifying business means an enterprise that (according to DHA): 

  • is operated for the purpose of making profit through the provision of goods, services or goods and services (other than the provision of rental property) to the public; and 
  • is not operated primarily or substantially for the purpose of speculative or passive investment. 

Have strong links to other regions of Australia: 

  • Has spent a significant amount of time in Other Regions of Australia, being more than 12 months in the last 5 years; 
  • Has had Immediate Family living in Other Regions of Australia in the last 5 years; 
  • Has engaged in work in Other Regions of Australia; 
  • Holds Assets (except residential property) in excess of AUD$100,000 in Other Regions of Australia; or 
  • Holds residential property in Other Regions of Australia, and does not hold residential property in the Northern Territory; or 
  • Has applied for Nomination in Other Regions of Australia.

Have Strong Links to the Northern Territory: 

  • has spent a significant amount of time in the Northern Territory (more than 12 months in the last 5 years); 
  • has or has had Immediate in the Northern Territory; or 
  • has worked for a minimum period of 6 months in the Northern Territory; or 
  • has completed a minimum of 2 years full-time study through a university higher education program or vocational education and training program, based in the Northern Territory. 

Immediate Family in relation to a person means that person’s: 

  • Spouse; and 
  • parents, siblings, children and grandchildren, by birth or by adoption that is recognised in Australia. 

Spouse means a person (of any sex) who: 

  • the other person is in a relationship with, that is registered under a prescribed State or Territory law; or 
  • although not legally married to the other person, lives with the other person on a genuine domestic basis in a relationship as a couple. 

Program Year means each period of 12 calendar months from 1 July to 30 June of the following year. 

 

3.  Features of the MINT Program  

  • Priority Processing (Regionals first); 
  • 265 available occupations including most of the popular migration occupation; 
  • Do not have additional requirements in working experiences, English level, and the job offer as long as the applicant could meet the DHA minimum threshold criteria for the 190/491 visa; 
  • Job Market (according to Commonwealth Research, July 2019 State & territory economic performance report) 

4. Fees and Processes 

Fees 

  • Migration agent professional fees: $10,000 + GST 
  • Placement fees: $27,500 + GST 
  • Visa application fees: minimum $4,045 
  • PIIF 2 investment: $515,000 (managed by Paspalis) 

the Fund intends to invest its capital (other than amounts held back as described above) into 

  • Northern Territory Government Bonds (or equivalent), of 80% 
  • Early stage investments in the Northern Territory, of 20%. The Fund may pursue opportunities to co-invest in early stage investments with other funds andGovernment investment programs both in Australia and overseas. 

Withdrawals 

In the following conditions, applicant could get back 80% of its placement fees: 

  • withdrawing the application before receiving visa nomination from MigrationNT 
  • getting refusal of visa nomination from MigrationNT 

The Fund may be required to hold back up to 10% of its investible funds on account of the risk of Unitholders wishing to withdraw their investment in the Fund due to being unsuccessful in their application for a visa under the Australian Federal Government Business and Skilled Migration Program.  

Application Processes  

  • Contact Panel Agent – Australia Visa Link. Panel agents have strict obligations under the MINT Program including the requirement to comply with the MARA code of conduct and to charge reasonable fees. 
  • Signs contract with Australia Visa Link, and pays 50% of service fee: $5,000 + GST in advance. 
  • Applicant enters into placement agreement with Paspalis and pays placement fee. MINT placement fees are $27,500 + GST payable directly to Paspalis.
  • Australia Visa Link lodges online application to MigrationNT (must be within 60 days from signing placement agreement). 
  • Applicant receives provisional approval for visa nomination from MigrationNT. 
  • Applicants pays the rest service fees: $5,000 + GST to Australia Visa Link. 
  • Applicant makes application to invest in PIIF 2 and pays $515,000 to PIIF 2 Trustee (must be within 30 days of receiving provisional approval). 
  • PIIF 2 Trustee perform AML/KYC on funds transfer and completes PIIF 2 application process. 
  • Once application to PIIF 2 is successful, Paspalis informs MigrationNT. 
  • MigrationNT grants State nomination. 
  • Visa application forwarded to Federal Department of Home Affairs. 

 

Contacts 

If you’re interested in accessing the MINT program, feel free to contact us, and we will provide more information about the program and the collaboration. 

 Ms. (Cathleen) Jie Zhan (MARN# 0639485) Australia Visa Link Pty Ltd 

Mob: +61 433 008 494 

WeChat ID: cathleenzhan 

Email: cath@ozvisalink.com

Address 

Melbourne CityLevel 5,190 Queen Street, Melbourne, VIC 3000

Box Hill957 Whitehorse Road, Box Hill, VIC 3128 

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contact us

Address

Melbourne Headquarters: Level 5,190 Queen Street, Melbourne, VIC 3000
Tel: 03 9670 6660

Box Hill Branch: 957 Whitehorse Road, Box Hill, VIC 3128

Sydney Branch: 303/160 Rowe Street, Eastwood, NSW 2122
Tel: 02 9874 8989

Hong Kong Branch: Room 19, Level 3, Yau Lee Centre,
45 Hoi Yuen Road, Kwun Tong, Kowloon
Tel: +852 6875 6585

GuangZhou Branch: Room 904, Block 2, No.91 YuShan Avenue
PanYu District, GuangZhou City, GuangDong Province, China
Tel: +86 135 8034 5982

Cell phone

0433 102 900 / 0433 008 494

Mailbox

business-hour

Business hours

9:30am - 06:00pm (Monday to Friday)