Even throughout the pandemic, it never stopped — and you’ve probably heard at least a little about the Northern Territory MINT program, which is open to overseas applicants. This article covers this one-of-a-kind Northern Territory MINT program in full detail.
What is the MINT program?
Australia | Northern Territory
The MINT program was launched by the Paspalis Investment Group and is strongly backed by the Northern Territory Government. Its full name is Migration Innovation Northern Territory (MINT). The program was first launched back in 2019,and this year marks its third year running,throughout which, whether it’sinvitations or visa grants, the process has remained stable and efficient.
MINT program eligibility requirements
Australia | Northern Territory
MINT is a migration program built around state-nominated visas, so applicants must first meet the Northern Territory Government’s requirements.
The details are as follows:
Under 45 years of age;
If applying for Subclass 190, a raw EOI score of 60 is required;
If applying for Subclass 491, a raw EOI score of only 50 is required;
Language requirementsAn IELTS score of 6 in each of the four componentsor an equivalent English test result;
The nominated occupation must be on the NT occupation list, with a validskills assessment;
Primarily aimed at overseas applicants, or applicants with no ties to Australian cities outside the Northern Territory
From the above, it’s clear the state government’s requirements are very low —essentially the minimum threshold for skilled migration.Once the state government’s requirements are met, applicants must then satisfy the investment requirements.
On the funding side,MINTthe total investment required for the program is AU$515,000,of which applicants are required to allocate:
80%of the funds into stable, low-risk Northern Territory Government bonds, with the principal and associated returns recoverable after 5 years; the official guidance suggests an indicative bond return of around 1.5%;
20%of the funds into Northern Territory VC investment in new start-up companies, with an investment term of 5-10 years. Start-up investment carries slightly higher risk compared to government bonds, so the required investment proportion is only 20%. Naturally, higher risk comes with higher potential returns.
Official guidance indicates that returns from investing in start-ups can reach as high as 15%. Another point worth noting: the AU$515,000 invested in the MINT program must be able to demonstrate a legitimate source of funds.
MINT program application process
Australia | Northern Territory
The MINT program is efficient because every step has a fairly clear processing timeframe. Let’s take a look at exactly what the MINT program application process involves:
Step 1
Engage a designated migration agent to handle the application
Step 2
Sign a place-reservation agreement with Paspalis
Step 3
Submit the state nomination application to the NT Government within 60 days of signing the place-reservation agreement
Step 4
A pre-invitation from the state government is usually received within 4-12 weeks
Step 5
Invest the funds into the designated investment project within 30 days of receiving the pre-invitation. Once the investment is complete, Paspalis will notify the Northern Territory Government
Step 6
The Northern Territory Government issues the formal invitation
Step 7
Submit the state-nominated visa application to the Department of Home Affairs, and receive the Australian visa upon approval
Can only be lodged through a designated MARA-registered migration agent
Australia | Northern Territory
Newstars‘ MARA-registered migration agent Simon Wu is one of the MINT program’s designated registered migration agents,and over the past few years the Newstars team has already helped many overseas clients successfully secure Northern Territory state nomination invitations and Australian visas.It’s worth noting that the vast majority of these clients wereinvited at 65 points, making this a rare and valuable migration program under the current circumstances!
Northern Territory MINT
program — advantages summarised
1. The investment amount is much lower compared to traditional investor migration;
2. The points required are much lower compared to traditional skilled migration;
3. Most importantly! MINT is the only state nomination stream open exclusively to overseas applicants during the pandemic, and invitations come through quickly.
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