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

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Important information about seeking migration advice

The Office of Migration Agents Registration Authority (OMARA) regulates registered migration agents (RMAs) and publishes a list of agents that have been disciplined.

The OMARA has a register of RMAs that you can visit at

Investment NSW advises that all applicants considering engaging migration advisory services check whether the person handling your application has been disciplined at

It is important that all applicant’s check their own eligibility for NSW’s migration nomination programs.

If you’re a consumer, stay up-to-date with the latest information on Australia’s Migration Programs at

Eligibility criteria

For applicants whose provisional visa was nominated by NSW after 01 July 2021.

See our Legacy nomination criteria page for information about NSW nomination criteria if you were nominated by NSW for your provision visa before 01 July 2021.

Visa criteria

You must meet the Home Affairs requirements for the Business Innovation and Investment (Permanent) visa (subclass 888B) – Investor stream.

Complying investments

You must have made a complying significant investment of at least A$2,500,000 and have held that investment for the life of your provisional visa.

It must have been invested in the following proportions:

  • at least A$500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
  • at least A$750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
  • a ‘balancing investment’ of at least A$1,250,000 in managed funds

Investing in NSW

To qualify for NSW nomination, you must show that your complying investments made a contribution to the NSW economy.

To achieve this, you must show your complying investments met the following criteria:

Venture Capital and Growth Private Equity investment

At least 50% of your venture capital component was invested in: 

  • a venture capital fund that makes eligible investments in businesses headquartered in NSW; and

  • the general partner of the venture capital fund maintains an office in NSW 

Emerging companies

At least 50% of the emerging companies component was invested in securities issued by a company or trustee headquartered in NSW, that are either: 

  • quoted on ASX Limited; or  

  • securities (Australian non-ASX quoted securities) quoted on an Australian securities exchange other than ASX limited 

Balancing investment

At least 50% of your balancing investments must bring benefits to NSW. This can be shown where:

  • the funds have an office in NSW; or
  • the business of underlying investment is headquartered in NSW; or
  • the business activities of underlying investment are of economic benefit to NSW

NSW defines 'headquartered in NSW' as:

  • having an ABN registration address in NSW; and

  • a sufficiently significant proportion of the company’s overall activities are in NSW as to merit it being described as a NSW company; and

  • the company’s activities are substantial in NSW and are not merely peripheral activity of the company 

Living in NSW

You must have a resided in NSW for the majority of your time in Australia.

Previously 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.  

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$1397 

  • outside Australia: A$1270 

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.   

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