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NPS is an authorised panel agent of the MINT Program

MINT OVERVIEW

The Migration Innovation Northern Territory (MINT) program is an initiative owned and managed by the Paspalis Group.

The MINT program assists overseas nationals who have demonstrated their commitment to supporting the NT’s innovation ecosystem by investing in the Paspalis Innovation Investment Fund No 2 (“PIIF 2”) that invests in to venture capital projects which provide an economic benefit to the Northern Territory innovation ecosystem.

The program is supported by the NTG. Click Here.

The first MINT program was successfully completed in 2019, resulting in the Paspalis Innovation Investment Fund No 1 (“PIIF 1”) being opened and raising $26m establishing the first venture capital fund in the Northern Territory.  PIIF 1 is a member fund of the Australian Investment Council.

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 through 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:

  1. Contact NPS. NPS is an authorised panel agent who has strict obligations under the MINT Program including the requirement to comply with the MARA code of conduct and to charge reasonable fees.

  2. Applicant enters into placement agreement with Paspalis and pays placement fee.  MINT placement fees are $27,500 + GST payable directly to Paspalis.

  3. Applicant’s agent lodges online application to MigrationNT (must be within 60 days from signing placement agreement).

  4. Applicant receives provisional approval for visa nomination from MigrationNT.

  5. 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 is available on request. (Download PIIF 2 Brochure)

  6. PIIF 2 Trustee perform AML/KYC on funds transfer and completes PIIF 2 application process.

  7. Once application to PIIF 2 is successful, Paspalis informs MigrationNT.

  8. MigrationNT grants State nomination.

  9. Visa application forwarded to Federal Department of Home Affairs.

 

Following the conclusion of the 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.

 

FAQ

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 the 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 of $10,000 plus GST.

 

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 is available on request.

Who owns the MINT Program?

The MINT program is owned and managed by the Darwin Innovation Hub and Paspalis Asset Management.  The Northern Territory Government supports the program but does not own and manage it.

 

What is the placement fee charged by Paspalis used for?

The placement fee supports a range of services performed by Paspalis in running the MINT program including processing, marketing, monitoring and reporting, and contributes to the costs of operating the Darwin Innovation Hub.

The Northern Territory Government receives no financial benefit from either the MINT program or Paspalis Asset Management.  The Northern Territory Government supports the program because of the benefits it brings to the Northern Territory Innovation ecosystem.

 

Who approves visa decisions?

The Northern Territory nominates Applicants who meet the Australian Federal Government threshold criteria relevant at the time of Nomination application (outlined in the law and related Australian Government policy) and NT Government specific criteria.

The Northern Territory government approves the nomination but does not approve visas.

The Australian Federal Government (Department of Home Affairs) is the authority who decides whether or not to issue a visa.

Paspalis and approved Panel agents do not approve nominations or visa and are not able to influence NT Government and Australian Government decisions.

What is the main objective of MINT program/why does the Northern Territory Government support the MINT program?

MINT aims to raise start-up capital for the Northern Territory innovation ecosystem through nominations of genuine applicants who will not only contribute to the Northern Territory via  investment, but also through a population increase, filling skills shortages and undertaking business activities that benefit the Northern Territory without disadvantaging local Northern Territorians.

Under the Skilled migration specific criteria, which occupation list should my occupation come from? 

Applicants must have occupations on both the NT Skilled Occupation Priority List and on the relevant Australian government occupation list. This is to ensure that local Northern Territorians are not disadvantaged through the nomination of skilled migrants in areas where there are already sufficient local workers.

Are there any exemptions for overseas applicants joining the MINT program?

There are no exemptions to Australian Government criteria for any applicants. There are however concessions to NT Government criteria for MINT applicants.

MINT applicants who are seeking nomination through the General Skilled Migration pathways:

  1. Will need to demonstrate they can fill skills shortages in the NT, but will not need to obtain an offer of employment by an NT employer in their nominated occupation or a closely related occupation.

  2. Where the nominated occupation specifically states that a higher English level than Dept of Home Affairs mandated minimum level (e.g IELTS 7.0 overall or equivalent), applicants will need to demonstrate the higher level of English. For example – In the case of the occupation of Management Consultant, applicants must meet the English requirement of IELTS 7.0 overall or equivalent.

 

The purpose of this setting is that these higher English levels are what industry (NT employers) have indicated is the necessary level they are searching for. If applicants in those occupations do not have that level of English, they won’t be able to fill skills shortages determined by the Program.

Where can I find the Northern Territory Skilled Occupation Priority List (NT SOPL) and relevant Australian Government occupation list?

Please click on the link below:

NT SOPL

Australian Government occupation list

 

How can I find out more about the investment?

Please email Paspalis and refer to information sheet above which provides a summary of the new investment fund.

What professional standards must the panel agents meet?

Panel agents are selected based on a history of performing against high quality standards. All are Registered Migration Agents and must adhere to the Migration Agents Code of Conduct. If you have concerns a panel agent is not acting in accordance with the code of conduct we encourage you to report it to Paspalis.

Is the investment guaranteed by the NT Government?

The investment (capital and returns) are not guaranteed by the NT Government. The Northern Territory is not involved in deciding which investments the Paspalis Innovation and Investment Fund makes. The NT Government suggests that MINT participants seek independent financial advice from suitably qualified financial advisors on the investment.

Are Panel Agents endorsed by the NT Government?

Panel agents are selected by Paspalis against selection criteria which have been agreed to with the NT Government. They are not endorsed by the NT Government.

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