Business Innovation and Investment (Provisional) visa (subclass 188C) – Significant Investor Extension stream
This provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders extend their stay in NSW for an additional 4 years.
About this visa
With this visa you can:
- carry out investment activity in NSW
- bring eligible members of your family with you
- apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met
Eligibility
To be eligible for NSW nomination for this visa, you must:
- hold a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream and have held it for at least three years, or hold a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream
- not have held more than one Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream visa
-
continue to hold your complying investments for the duration of your provisional visa(s). See the complying investment frameworks section for further detail
If you were not nominated by NSW for your Business Innovation and Investment (Provisional) visa (subclass 188), you must obtain a letter of release from your nominating state or territory on the Home Affairs' Form 1414.
How to apply
You must apply for NSW nomination before before you make a formal application for your Home Affairs' visa.
Step 1: Apply online
Complete our online form.
You will need to upload and attach your supporting evidence with your online application form. See our guide to supporting documents for what supporting evidence is required.
Step 2: Pay application fee
A payment link is sent by email 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:
- applying from within Australia: A$902
- applying from offshore: A$820
Application fees are non-refundable. Unpaid applications will be closed by our office. Ensure you retain a copy of your receipt as proof of payment.
Processing times vary; however, you can expect an outcome within four weeks from the time your completed application payment.
Step 3: Lodge a formal visa application
If your application is successful, you will notified of your approval by email with a signed copy of the Home Affairs’ Form 1414. NSW nomination is valid for 90 days.
Complying investment frameworks
Refer to the requirements below according to the complying investment framework you applied for your visa under.
Pre 1 July 2015 complying investment framework
For applicants who hold their first provisional subclass 188 visa
You must meet criteria 1.1, 1.2 or 1.3 below.
1.1. If you were nominated by NSW before 1 September 2014, you have held a complying investment* continuously for the whole of the period during which you have held your subclass 188 visa, including at least A$1.5 million in NSW Waratah Bonds.
1.2. If you were nominated by another state/territory before 1 September 2014, you have held a complying investment* continuously for the whole of the period during which you held your subclass 188 visa and you meet 2.2(a) or 2.2(b) below.
a) You have invested at least A$1.5 million in NSW Waratah Bonds or
b) You can demonstrate investment activity in NSW of at least A$1.5 million**, and
i) You can demonstrate that you have established a residence in NSW, and
ii) You have a genuine commitment to undertake further beneficial business or investment activity in NSW.
1.3. If you were nominated after 1 September 2014, you have held a complying investment* continuously for the whole of the period during which you have held your subclass 188 visa.
Post 1 July 2015 complying investment framework
You have held a complying investment* continuously for the whole of the period during which you have held your subclass 188 visa.
* As per Department of Home Affairs’ definition of ‘complying investment’
** Excludes residential real estate
Further information
For answers to our most commonly asked questions, see the Business and Investor FAQs page on our website.
Or contact the NSW Business and Investor migration team for enquiries regarding visa nomination eligibility or to update your contact details should they have changed.