All About Business Visas – NSW

New South Wales welcomes people with business and investment skills who wish to bring their talent and ideas, establish, develop and manage a new or existing business or make a designated investment in NSW/ Vic. State nomination for this visa is managed by the NSW Government and the Australian Government’s Department of Home Affairs.

Eligibility requirements:

• Must be under 55 years of age
• Must be nominated by a state or territory agency and meet that state or territory’s criteria
• Must have an overall successful business career
• Must have an ownership of a business with an annual turnover of $750K for at least 2 out of the last 4 fiscal years. 
• Must have a personal and business net asset of $1.25 million
• Must have a genuine and realistic commitment to establish or participate in a qualifying business in Australia  
• Must have functional English or pay VAC
• Must meet character and health requirements

Business Innovation Stream

• There are legislative requirements that applicants must adhere to depending on when their invitation was received

Before 1 July 2021

• Applicants must have a personal and business net asset of $800K
• Applicants must have a business turnover of at least $500K for 2 out of 4 Fiscal years
• Applicants must have a visa that’s been valid for 4 years and 3 months

After 1 July 2021

• Applicants must have a personal and business net asset of $1.25 million
• Applicants must have a business turnover of at least $750K for 2 out of 4 Fiscal years
• Applicants must have a visa that’s been valid for 5 years 

Nominations 

• Business proposal that clearly describes how the business will contribute to the NSW economy and create new jobs
• Create a minimum of two new full time equivalent jobs 
• Purchase an existing business – need to show growth since acquisition – 10% increase in annual turnover or 25% increase in business assets. 

Nomination criteria for NSW

• The applicant must be under the age of 50 
• The applicant must have a personal asset of $1.75m (Sydney) or $750K (Regional NSW)
• Applicants must have a Recognized BA or (in the last 10 years) – 3 years bs exp in NSW target sector OR 5 years bs exp in non-target sector.
• Applicant must have a business turnover of $1.25 m (Sydney) or $750K (Regional NSW)
• Applicant must have a business investment of $500K (Sydney) or $300K(Regional NSW)

Target Sector:

• The businesses in the target sector for Sydney include:
  • Advanced manufacturing
  • Food and beverage manufacturing
  • Agricultural technology
  • Aerospace and defence
  • Renewable energy and sustainability
  • Emerging digital technology
  • Cyber security
  • Medtech

• The businesses target sector for regional NSW include:
  • Technology-enabled primary industries
  • Critical minerals
  • Recycling and waste management

Extension 

• Must have the stream for at least 3 years
• At the time of lodgement, the applicant must have met one of the following requirements:
  • Applicant must hold a subclass 188 visa 
  • Applicants must have held a subclass 188 visa that was granted before 1 July 2019 AND application is made no more than 3 months after the end of the concession.  
  • Applicants must have held, during a concession period, a subclass 188 visa in the Business Innovation Extension stream that was granted before 1 July 2019 AND the application is made no more than 3 months after the end of the concession period. 

Investor stream 

• Must be under the age of 55
• Recognised BA or (in the last 10 years) 5 years successful investment history OR 3 years work experience in NSW target sector OR 5 years work experience in a non-target sector. 
• Department of Home Affairs (DOHA) legislative requirements 
• Investments must make a contribution to NSW economy 

Significant investor stream

• Requirements if invitation received before 1 July 2021
  • Significant investment of at least $5 million compiling of: 
    • AUD500,000 in venture capital and growth 
    • At least AUD1.5 million in approved management funds 
    • AUD3 million in managed funds

• Requirements if invitation received after 1 July 2021
  • Significant investment of at least $5 million compiling of: 
    • AUD1 million in venture capital and growth
    • At least AUD1.5 million in approved management funds 
    • AUD2.5 million in managed funds

Entrepreneur stream

Requirements if invitation received before 1 July 2021

• Have received funding of at least $200,000 from one of the following entities:
  • Commonwealth government agency 
  • State or territory government agency 
  • Publicly funded research or innovation organisation
  • Higher education provider specified as a Table A or Table B provider under Part 2-1 of the Higher Education Support Act 2003; or 
  • Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership 

Requirements if invitation received after 1 July 2021

• $200,000 funding is no longer required. Criteria depends on the states and territories
• Visa valid for 5 years
• Under 55 years of age
• Must be accepted by a NSW startup Accelerator Program or Startup incubator Program
• Adequate funding from approved entities
• How will the business benefit NSW and commercialise the product or service