Business Innovation and Investment (Permanent) visa (subclass 888) – Business Innovation stream

On this page

Eligibility criteria

Nomination criteria for applicants nominated by NSW for the Business Innovation and Investment (Provisional) visa (subclass 188) after 1 July 2021 will be published here shortly.   

Eligibility criteria – If you were nominated by NSW before 1 July 2021

Visa eligibility 

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

Business activity 

You must be involved in a business(es) that has been actively operating throughout the last two years.

This would usually be shown in each quarter by at least one of the following:  

  • substantial sales revenue  

  • leasing or owning of a business premises  

  • employment of staff  

  • significant capital investment (not including purchase of a motor vehicle) 

  • substantial purchase of stock.

Net assets and job creation

You must meet at least two of the following three requirements:

  1. Your business(es) employed at least the equivalent of two full-time employees (who are not family members) throughout the last 12 months;
  2. The net value of your (or your and your spouse's combined) personal and business assets in Australia has been:
    • A$900,000 if your business is in Sydney, or
    • A$600,000 if your business is in Regional NSW
  3. The net value of your (or your and tour spouse's combined) assets in your business(es) in NSW is at least:
    • A$300,000 if your business is in Sydney, or
    • A$200,000 if your business is in Regional NSW

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

Management of business 

You must be actively involved in managing the business(es). As a guide, most small businesses require only one manager who usually controls more than 51% of the shareholding. 

Business investment 

If your business is in Sydney: 

  • You must have invested at least A$500,000 in your business for at least the last 12 months

If your business is in Regional NSW: 

  • You must have invested at least A$300,000 in your business for at least the last 12 months

The business investment must be in property, plant & equipment, inventory, or purchased goodwill. This definition applies to businesses in Sydney and Regional NSW. 

Successful business career 

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

Business in Regional NSW 

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

Letter of release – if you were nominated by another state or territory.  

If you were nominated by another Australian state or territory for your subclass 188 visa, you must obtain a letter of release from your nominating state or territory on the Home Affairs’ Form 1414.  

A new way to apply

You can now apply for NSW nomination online. 

Please read the follow information carefully before applying: 

  • Clicking 'back' in your browser will cause you to lose any information previously entered. Use 'previous' and 'back buttons within the form to navigate between pages of the form.  

  • You can review information entered in the form and make edits before submitting. 

  • Read our guide to supporting documents website for information about what documents you are required to submit with your application. 

  • Only submit your application once. Contact us if you have any questions.  

You cannot edit your application after it has been submitted and you cannot save and resume your application. 

How to apply 

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

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$1,397 

  • outside Australia: A$1,270 

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 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.   

Top of page