To meet the eligibility requirements, you should:
- Be under the age of 50.
- Possess a bachelor’s degree that is acknowledged as equivalent to the Australian standard.
Additionally, within the last decade, you must have either:
- Accumulated a minimum of 3 years of business experience in a targeted sector in NSW.
- Accumulated a minimum of 5 years of business experience in a non-targeted sector
Personal and Business Assets
To meet the requirements, you need to have a combined net worth of personal and business assets as follows:
- A$1,750,000 – Sydney
- A$1,250,000 – Regional NSW
You must have a qualifying ownership stake in up to two businesses, and their combined annual turnover should meet the following criteria for two of the last four fiscal years:
- A$1,250,000 – Sydney
- A$750,000 – Regional NSW
Your SkillSelect Expression of Interest (EOI) should demonstrate a minimum score of 65 points. Applications that meet the following criteria will be given priority:
- 15 points for business experience, or
- Points for business innovation qualifications
Your Business Plan
You are required to provide a comprehensive business proposal outlining how your business will contribute to the NSW economy and generate new employment opportunities.
Creating New Job in NSW
You must create a minimum of two full-time equivalent jobs.
If you are purchasing an existing business
If you are acquiring an existing business, you must demonstrate growth in the business since taking over through either an:
- increase in annual turnover of at least 10%, or
- increase in business assets of at least 25%
You may be exempt from the job creation and business growth requirement if your eligible business:
- Implements innovative practices that were previously non-existent in the marketplace, or
- Operates primarily in a Regional NSW target sector
To be eligible for a permanent visa (subclass 888), your nomination application will be declined by NSW if you have not made the required business investment during your provisional visa period. The investment amounts are as follows:
- $500,000AUD – Sydney
- $300,000AUD – Regional NSW
188A Business Visa
Australian Business Innovation Visa
188A NSW | 188A VIC | 188A QLD | 188A SA | 188A WA