188B NSW

Visa criteria

Meet the Home Affairs requirements for the Business Innovation and Investment (provisional) visa (subclass 188) – Investor stream.


Personal background

You must be under 50 years of age and have either:

  • a bachelor’s degree recognised as equivalent to the Australian standard, or
  • in the past 10 years have at least:
    • 5 years of successful investment history, or
    • 3 years work experience in a NSW target sector, or
    • 5 years work experience in a non-target sector


Investment background

For at least one of the five most recent fiscal years, you have directly managed one of the following:

  • a qualifying business in which you, your partner, or you and your partner together had at least 10% ownership interest, or
  • an eligible investment of at least A$2,500,000 owned by you, your partner, or you and your partner together


Net assets

For the two most recent fiscal years, you, your partner, or you and your partner together have combined personal and business net assets of at least A$2,500,000.


Complying investments

You must make a complying significant investment of at least A$2,500,000 and have a genuine intention to hold that investment for the life of your provisional visa.

It must be 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 will make a contribution to the NSW economy.

NSW will refuse your nomination application for a permanent visa (subclass 888) if you cannot show your complying investments meet the following criteria:

[1] Venture Capital and Growth Private Equity investment

At least 50% of your venture capital component must be 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

[2] Emerging companies

At least 50% of the emerging companies component must be 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

[3] 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 genuine commitment to reside in NSW and contribute to NSW through your investment activity.


Points test

Your SkillSelect EOI must show a minimum score of 65 points. Applications showing the following will be prioritised:

  • Points in investor experience, or
  • 35 points in financial assets, or
  • Points for business innovation qualifications


188B Investor Visa
Australian Investor Visa
188B NSW | 188B VIC | 188B QLD | 188B SA | 188B WA


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