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Business Innovation and Investment (Provisional) visa (subclass 188A) – Business Innovation stream

This provisional visa is for those with business skills who want to establish, develop and manage a new or existing business in New South Wales. 

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Applications have closed

Applications for NSW nomination for this visa subclass have now closed for the 2020–21 financial year.

We are working to finalise all on-hand applications by 30 June 2021.

Applications for the 188A Extension stream remain open.

Apply for 188A extension visa

Eligibility

Visa eligibility

To see if you’re eligible for this visa, read the Home Affairs' criteria

Age

You must be under 55 years of age.

Business turnover

If you are seeking to migrate to Sydney 

  • For at least the two of the four fiscal years immediately before applying for NSW nomination, you must have had a qualifying ownership interest in up to two main businesses with a combined annual turnover of at least A$1.0 million.

If you are seeking to migrate to Regional NSW

  • For at least the two of the four fiscal years immediately before applying for NSW nomination, you must have had a qualifying ownership interest in up to two main businesses with a combined annual turnover of at least A$500,000.

Visit the Home Affairs’ designated regional area postcodes for a list of Regional NSW postcodes. You must live and work within NSW borders.

Net personal and business assets 

If your proposed business will be in Sydney

  • You (or you and your spouse combined) must have net personal and business assets of at least A$1.3 million.

If your proposed business will be in Regional NSW

  • You (or you and your spouse combined) must have net personal and business assets of at least A$800,000.

Business investment 

If your proposed business will be in Sydney

  • your business commitment must include at least A$500,000 in business investment. 

If your proposed business will be in Regional NSW

  • your business commitment must include at least A$300,000 in business investment. 

The business investment must be in property, plant & equipment, inventory, or purchased goodwill. 

Successful business career

You must provide a full resume of your business career and responsibilities demonstrating a successful business career.

Sufficient funds to settle in NSW

You must provide evidence of sufficient funds for settling and living expenses for a minimum 12 months in NSW.

How to apply

Applications are closed

If you have already applied, find out about next steps.
 

You need to apply for NSW nomination before you can apply to Home Affairs for this visa. Applying for NSW nomination involves the following steps.

Submit an Expression of Interest (EOI)

Submit an EOI through SkillSelect selecting NSW as your preferred state.

Apply for NSW nomination

Apply to NSW for nomination using our online form.

See our guide to supporting documents for information about what supporting evidence you need to supply at the time you apply to NSW.

Pay application fee

You (or your migration agent) will be emailed a payment link immediately after submitting your online application form. This payment link is valid for 30 minutes only.

Your application will only be assessed after you completed the application payment. To ensure the timely assessment of your application, you must complete payment within the 30 minute timeframe.

Application fees if you are applying from

  • within Australia: A$902
  • outside Australia: A$820

Application fees are non-refundable. Applications that remain unpaid will be closed by our office. Retain a copy of your receipt as proof of payment.

Application processing time

You will receive an outcome, or request for further information, within four weeks of your application payment.

Next steps

If you are nominated by NSW, you will receive an automatic invitation to apply for the visa through SkillSelect. This invitation is valid for 60 days.

Nomination extension

If you need additional time to meet the criteria for the permanent subclass 888 visa, you may be eligible able to apply for an extension of your provisional Business Innovation visa.

To be considered for an extension, you must

  • meet the Home Affairs’ criteria for an extension
  • have held a subclass 188 visa in the Business Innovation stream for at least two years and nine months from the date of visa grant
  • have maintained an ownership interest in one or more businesses in NSW for at least two years
  • be likely to meet the NSW eligibility criteria for the permanent subclass 888 visa in the future

If you were nominated by NSW for your provisional visa based on your intension to migrate to Regional NSW, you must demonstrate that your business activity was undertaken in Regional NSW.

If you were nominated by another Australian state or territory for your provisional visa, you must obtain a letter of release from your nominating state or territory on the Home Affairs’ Form 1414.

How to apply for a nomination extension

To apply for a nomination extension

  • Apply using our online form
  • Complete your application payment. You will be emailed a payment link immediately after submitting your online application form. This payment link is valid for 30 minutes only.

See our guide to supporting documents for information about what supporting evidence you need to supply at the time you apply to NSW.

Application fees

If you are applying from

  • within Australia: A$902
  • outside Australia: A$820

Next steps

You will receive an outcome, or request for further information, within four weeks of your application payment.

If your application is approved, you will receive a notification of approval by email with a signed copy of the Home Affairs’ Form 1414. NSW nomination is valid for 90 days.


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