MIGRATION INNOVATION NORTHERN TERRITORY PROGRAM
A unique opportunity to invest in innovation and migrate to Australia
MINT OVERVIEW
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 first MINT program was successfully completed in 2019, resulting in the Paspalis Innovation Investment Fund (“Fund”) being opened and raising over $25m establishing the first venture capital fund in the Northern Territory.
The Fund is a member fund of the Australian Investment Council.
MINT OBJECTIVES
The 2019/20 Migration Innovation Northern Territory (MINT) program has commenced. The program is an initiative owned by the Paspalis Group and supported by the Northern Territory Government that assists overseas nationals with obtaining Northern Territory Government nomination if they have demonstrated commitment to supporting the Northern Territory’s innovation ecosystem AND meet the nomination criteria set by the Northern Territory Government.
The program seeks to:
- Complement other activities targeted at raising start-up capital for the Northern Territory innovation ecosystem, by providing a short term solution through the leveraging of ability of the Northern Territory Government to nominate in select visa categories.
- Maintain the integrity of the Northern Territory Government Nomination programs.
- Support Nominations of those genuine applicants that will not only benefit the Northern Territory through the introduction of venture capital, but also through a population increase, filling skills shortages and undertaking business activities of benefit to the Northern Territory.
- Ensure that local Northern Territorians are not disadvantaged through the Nomination of skilled migrants.
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:
- 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 be an International Student, unless they have Strong Links to the Northern Territory
Business migration specific criteria
- must meet Australian Government threshold criteria for the relevant visa;
- must not be an International Student, 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; and have undertaken their own business research.
PROCESS
If you’re interested in accessing the MINT program follow these steps:
- Contact Paspalis directly or an approved migration professional (see panel agents below). 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.
- Applicant enters into placement agreement with Paspalis and pays placement fee. MINT placement fees are $27,500 + GST payable directly to Paspalis.
- Applicant’s agent lodges online application to MigrationNT (must be within 60 days from signing placement agreement).
- Applicant receives provisional approval for visa nomination from MigrationNT.
- 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). Information memorandum will be available by end of August 2019. The key terms of PIIF 2 will be made available here at the end of August 2019. (Download PIIF 2 Brochure)
- 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.
Following the conclusion of the 2019/20 MINT Program, applicants will be contacted by Paspalis to provide answers to a detailed survey concerning the MINT Program and their current status and activities in Australia for the purposes of reviewing the success of the MINT Program.
Mr. (John) Jun Cao
(MARN# 0961126)
Managing Director
Nudraft Professional Services Pty Ltd
Mob + 61 411 731 299
Email jcao@nudraft.com.au
Web: nudraft.com.au
Melbourne
601/227 Collins St
Melbourne VIC 3000
Tel +61 3 9994 8284
Darwin
Level 1, Paspalis Centrepoint
48-50 Smith St Mall
Darwin NT 0800
Tel +61 8 8943 0600
Mr. Shambhu Kadel
(MARN# 1386072)
Director
KBA Global
Mob + 61 450 751 326
Email shambhu.kadel@kbaglobal.com
Web www.kbaglobal.com
Head Office
Shop 3/ 6 Sabine Road
Millner NT 0810
Tel 1800 KBA GLOBAL | 1800 522 456 | +61 8 8985 3050
Darwin
Suite 4/4 Shephard Street
Darwin NT 0800
Tel 1800 KBA GLOBAL | 1800 522 456 | +61 8 8981 7634
Level 1, Paspalis Centrepoint
48-50 Smith Street Mall
Darwin NT 0800
Tel 1800 KBA GLOBAL | 1800 522 456 | +61 8 8943 0626
Perth
2/91 Aberdeen Street
North Bridge WA 6003
Tel 1800 KBA GLOBAL | 1800 522 456 | +61 8 9228 8075
Email perth@kbaglobal.com
Sydney
Suite 3, 1-3 King St
Rockdale NSW 2216
T: 1800 KBA GLOBAL | 1800 522 456 | +61 2 9597 7386
Email sydney@kbaglobal.com
Melbourne
Suite 10, Level 1
343 Little Collins St
Melbourne VIC 3000
T: 1800 KBA GLOBAL | 1800 522 456 | +61 0423690423
Email melbourne@kbaglobal.com
Kathmandu
2nd Floor, Hari Ratna Building
New Baneswore (Opp. BICC West Gate, Near Nabil & Kailash Bank)
Kathmandu
Tel +977 1 4480 874
Email kathmandu@kbaglobal.com
Mr. (Boris) Hongbo Shao
(MARN# 1571815)
Director
Australian United Consultancy Pty Ltd
Mob + 61 452 180 521
Email boris@aumecentre.com
Sydney
Level 25
66 Goulburn St
Sydney NSW 2000
Tel +61 2 9267 8269
Darwin
Level 1, Paspalis Centrepoint
48-50 Smith St Mall
Darwin NT 0800
Tel +61 8 8943 0600
Ms. (Cathleen) Jie Zhan
(MARN# 0639485)
Migration Agent
Australia Visa Link Pty Ltd
Mob +61 433 008 494
WeChat ID cathleenzhan
Email cath@ozvisalink.com
Web ozvisalink.com
Melbourne
Level 5, 190 Queen Street
Melbourne VIC 3000
Tel +61 3 9670 6660
957 Whitehorse Rd
Box Hill, VIC 3128
Darwin
Level 1, Paspalis Centrepoint
48-50 Smith St Mall
Darwin NT 0800
Tel +61 8 8943 0600
Applications to become an approved migration agent/lawyer for the 2019/20 MINT Program are now closed. We have received an overwhelming number of applications. As the MINT Program has a small allocation of visa nominations, the panel size has been accordingly limited. All applicants will be contacted shortly regarding the outcome of their application.
If the MINT Program continues in 2020/21, information for migration agents/lawyers interested in applying for that panel will be available on this website.
MINT Program Manager
Belinda Stewart
(Mandarin Speaking)
For questions or support services
please contact Belinda Stewart on +618 8943 0600
Services Include:
- Point of contact for panel agents and potential migrant applicants
- Answering questions about the program and providing information to potential applicants including application forms
- Handling complaints from applicants
- Concierge services for applicants including
- Accommodation sourcing
- Residential lease facilitation
- Airport meet & transfer
- Vehicle sourcing (as needed)
- Welcome to NT pack
- Induction to Darwin Life
- 1 month complimentary use of DIH hot desk co-working space (including wi-fi and lounge privileges)
Can I use my own migration agent who is not an approved panel agent?
No. All applicants are required to use an approved panel agent for both their Northern Territory and Federal applications. All panel agents are appointed according to strict selection criteria and have undertaken specific training for the MINT Program provided by the Northern Territory Government and Paspalis. Applications made by agents who are not on the panel will not be accepted by Paspalis or the Northern Territory Government.
What are the costs of the MINT Program for applicants?
Applicants costs of applying for the MINT Program are limited to:
- Placement fees of $27,500 plus GST
- Migration agent professional fees which must be reasonable and in accordance with the MINT Program
How much do I need to invest in the Paspalis Innovation Investment Fund No. 2?
Applicants are required to invest $515,000 in the Paspalis Innovation Investment Fund No. 2. Application forms and a copy of the Information Memorandum will be available by the end of August 2019.
How much is my migration agent paid by Paspalis?
Upon successful visa nomination and investment in PIIF 2, Paspalis will pay panel agents $15,000 plus GST per applicant. This fee is in addition to professional fees charged to you by your migration agent.
Disclaimer: This web page and downloadable flyers are provided to you for information purposes only. It does not constitute an offer or invitation to purchase or subscribe for interests in the Fund. Any financial product advice given is of a general nature only. The information has been provided without taking into account the investment objective, financial situation or needs of any particular investor. Therefore, before acting on the information contained in this flyer you should seek professional advice and consider whether the information is appropriate in light of your objectives, financial situation and needs. There is no guarantee of the performance of the Fund, the repayment of any capital or any rate of return. Any statements of intent and opinion and forward looking statements are subject to a range of factors and may or may not be realised or be accurate. Investing in any financial product is subject to investment risk including possible loss. The information on this web page is based on information provided that may not have been verified. We believe that the information is reliable but do not guarantee its accuracy or completeness. This information is only intended for the persons to whom it is given and who qualify as ‘wholesale clients’ under section 761G(7) of the Corporations Act 2001 (Cth). Paspalis Asset Management Pty Ltd ACN 086 738 301 authorised representative of One Investment Administration Ltd ACN 072 899 060 AFSL No. 225064. The trustee of the Fund is One Funds Management Limited ACN 117 797 403 AFSL No. 300337.
