NSW 188 visa nominations are now open for financial year 2021/2022.
Following the announcement of the changes to the Business Innovation and Investment Program (BIIP) from 01 July 2021, several states have announced their own set of nomination rules and opened for new nominations. You can review all the updated legal requirements incorporating the 2021 changes to the subclass 188 visa program on our Business Visa page.
The key changes can be found from our last article: 188 Business Visa Changes from July 2021 Onwards
NSW: 188 visa nominations now open!
To be nominated by NSW to apply for the 188 visa, they have now announced their own selection criteria. These can be summarised as follows:
- You must be under 50; (The Commonwealth requirement is 55)
- You must have a Bachelor’s degree or either:
- have 3 years of business experience in a NSW target sector or
- 5 years of business experience in a non-target sector.
- Target Sectors
- For Sydney, the target sectors are:
- Advanced manufacturing
- Food and beverage manufacturing
- Agricultural technology
- Aerospace and defence
- Renewable energy and sustainability
- Emerging digital technology
- Cyber security
- Medtech
- For Regional NSW, the target sectors are those for Sydney plus the following:
- Technology-enabled primary industries
- Critical minerals
- Recycling and waste management
- For Sydney, the target sectors are:
- Financial Requirements
- For Sydney, the financial requirements are at:
- $1,750,000 Net Personal and Asset Value; and
- $1,250,000 Turnover
- For Regional NSW, the financial requirements are at:
- $1,250,000 Net Personal and Asset Value; and
- $750,000 Turnover
- For Sydney, the financial requirements are at:
- The business must create a minimum of two new full time equivalent jobs.
- If purchasing an existing business, you must show growth in the business since taking over through either:
- increase in annual turnover of at least 10% or
- increase in business assets of at least 25%.
Businesses who are able to claim points in the business innovation qualifications or 15 points for business experience will be prioritised.
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