Migration Innovation Northern Territory (MINT)

PROGRAM

THE SKILLED MIGRATION PROGRAM COMBINES BOND INVESTMENT IN THE NORTHERN TERRITORIES

WHAT IS THE MINT PROGRAM? 

The Migration Innovation Northern Territory (MINT) is a government bond investment settlement program supported by the Northern Territory Government to boost the economy in the territory as well as facilitate skilled migrants to become Australian citizens. This program is an initiative owned and managed by Paspalis Investment Management Pty Ltd.

• Obtain Australian permanent resident from offshore without living in AUSTRALIA.

• Invest AUD 515,000 in government bonds (80%) and Early-stage Venture Capital(20%) managed by the professional fund management company

• Fund matures after five years with stable profitability and low risk.

PROGRAM OBJECTIVE

Supplement economic activities to raise start-up capital for the innovation ecosystem in the Northern Territory by providing a short-term solution leveraging the NT Government's ability to nominate in select visa categories.

By attracting investment to increase the population of the NT state through the MINT Program, it fills the skills shortage and carries out business activities that benefit the Northern Territory.

ELIGIBILITY CRITERIA

• Under age 45 at the time of nomination

• Score 65 points in Skillselect

• Meet minimum English requirement

• Have a positive skill assessment 

• Have sufficient funds for investment and settlement

• Have NO strong link with other states or territory of Australia

• Have NOT studied, worked and lived in Australia (other than Northern Territory) in the past 5 years (except travelling)

APPLICATION PROCEDURE:

Step 1: Consult with Hays Migration (Initial Assessment)

Hays Migration consultants will help to assess your eligibility and provide specific information and answer any additional questions.

Step 2: Application Document Preparation

There are a few mandatory documents for MINT Program Application, for instance, Skills assessment, English Test Report, and other additional documents.

Step 4: Apply for MINT Placement

The investor will sign a contract with Paspalis and pay an investment placement fee (AUD 33,000). This fee will not be refundable.

Step 5: Apply for state nomination

Applicants receive approval to submit state nomination applications to the Northern Territory government

Step 6: Investment

The applicant registers in PIIF 3 Investment Fund and pass the investment capital of AU$515,000 to the authorized unit of PIIF 3 Investment Fund.

Step 7: Anti-Money Laundering (AML) Check

The Northern Territory and Paspalis governments will inspect and approve the funds within a month. The goal is to prove the source of $515,000 AUD investment is valid.

Step 8: Receive state Nomination to apply for the 190 visa

After passing the AML check, the applicant will be nominated from the NT state government to submit the visa 190 application. Applicants will have 60 days to prepare all documents.

FREQUENTLY ASKED QUESTIONS:

1. Can any representative or migration agent help me apply for this program?

No. All applicants must use a PANEL AGENT to apply for the program. Applications from agents who are not on the panel will NOT be accepted by Paspalis or the Northern Territory Government.

2. What are the costs of the MINT Program for applicants?

• Placement application fee ($30,000 plus GST)

• Migration agent professional fees

• Skill assessment application charge

• Visa application charge

• Investment ($515,000)

• Other charges, e.g. translation of documents, medical examination, police check fee

3. How much do I need to invest in the Paspalis Innovation Investment Fund?

Applicants are required to invest $515,000 into the Paspalis Innovation Investment Fund for a minimum of 5 years.

4. Who approves visa decisions and grants permanent residency?

The Northern Territory Government is responsible for issuing nominations to applicants who are eligible for the program. The Northern Territory Government reserves the right to nominate applicants for visa applications but does not have the right to issue visas; the Department of Home Affairs is the authority that makes visa application decisions.

5. Which occupation is suitable to apply for the program?

The applicant must nominate an occupation on the Australian government's relevant occupation list.

6. Are there any exemptions for applicants applying for the MINT program?

There are no exemptions for the Australian Federal Government's skilled visa criteria. However, the Northern Territory Government may consider and offer some exemptions of nomination criteria to applicants applying for the MINT program.

7. How will the AUD $515,000 capital be used?

80% of the capital will be invested in the Northern Territory Government Bonds (or equivalent) with a return of 1-3% per year.

20% will be invested in venture capital funds, the investment rate can be up to 15% per year (according to Paspalis – MINT program fund management agency appointed by the North Australian government).

8. When will the investment be returned?

80% of the capital will be refunded after 5 years, and 20% of the capital will be calculated in detail of profit and loss and refunded after 5-10 years.

9. How will 20% of the investment capital be invested?

20% of the capital will be invested in projects with high-profit potential such as emerging companies, and startups that possess outstanding criteria:

• Established or operated in Northern Territories

• The improvement project helps increase productivity or economic benefits for the state

• The project is in the development stage and shows the potential to generate high profits in the future

• The research and development project is affiliated with Charles Darwin University.

Not sure if your career is on the occupation lists above? Contact Hays Migration today for the latest information!