State requirements comparison for Business visas (188 visa/888 visa)

State Nomination Criteria for Each State

Note: The Government has not provided any state with any nomination places for the Business Innovation and Investment Program (BIIP) in 2023–24.

Business or investor migrants who already hold a provisional visa (subclass 188) can apply for nomination for the extension stream or permanent (subclass 888) visa in 2023–24 as these are not subject to a cap.

If you apply to migrate to Australia under the Business Innovation and Investment program (188A), you will be assessed against a points test. You must score sufficient points to reach the pass mark. The current pass marks for the Business Innovation and Investment (Provisional) (subclass 188) is 65 points. The 188A is a provisional visa for those with business skills who want to establish, develop and manage a new or existing business in Australia. You must be nominated by a state or territory government. Each state or territory government has its own criteria which you must satisfy in order to be able to apply for and be granted the permanent 888 Business Innovation and Investment visa.

Requirements Nomination fee Processing time
VIC ·         Must be under 55

·         Must score at least 65 points however you usually need to have 80 points or higher(This score does not include points awarded for State nomination)

  • Must have at least a Bachelor degree in a STEMM field, or a Master of Business Administration, or relevant business history of at least 3 years’ experience in specified fields
  • Must employ at least 2 full- time Australian citizen or permanent residents for a minimum of 12 months within the 24 months prior to lodging their 888 nomination. You could be exempt from this requirement if your business’ turnover is at least A$1million per year.
No fee 20 business days
ACT ·         Plan to invest $200,000 to purchase or establish a business that will be viable and of economic benefit to the ACT

·         Make a personal commitment, and have sufficient personal funds, to settle in Canberra upon visa grant

·         Sign a declaration acknowledging the ACT nomination obligations as the holder of the visa

$600 Not available
NSW (Sydney & Regional NSW) ·         Must be under 50

·         Must have either a Bachelor degree or equivalent, or in the past 10 years:

·         At least 3 years of business experience in a NSW target sector; or

·         At least 5 years of business experience in a non-target sector

·         Must have combined net personal and business assets of:

·         A$1,750,000 – Sydney

·         A$1,250,000 – Regional NSW

·         Must have a qualifying ownership stake in up to 2 businesses that have a combined annual turnover of:

·         A$1,2501000 – Sydney

·         A$750,000 – Regional NSW

·         Must score a minimum of 65 points

·         NSW will refuse your nomination application for a permanent visa (subclass 888) if during your provisional visa you have not a made a business investment of:

·         A$500,000 – Sydney

·         A$300,000 – Regional NSW

$820 (outside Australia)

$902 (inside Australia)

Within 4 weeks of payment
QLD ·         Demonstrate a genuine commitment to Queensland

·         Must have net business and personal assets of at least A$1.25 million ready to be transferred to Queensland upon visa grant

·         Must invest in one or two qualifying businesses after visa grant:

·         Business investment of at least A$400,000 – Greater Brisbane and Gold Coast Regions

·         Business investment of at least A$300,000 – Regional Queensland

·         Export business must develop international markets for Queensland products.

·         General importing business are not accepted unless the imported products are highly innovative, advanced in technology, or currently unavailable in Queensland.

·         Property Development business will not be accepted.

$500 (outside Australia)

$550 (in Australia)

applications currently closed

Not available
NT The new criteria for Northern Territory nomination under the BIIP are currently being worked on. This page will be updated when new information becomes available.

·         Must have an understanding of Australia’s Northern Territory (NT) business and investment

·         Must have genuine intentions to actively pursue business or investment in the NT

·         Must have the financial capacity and business acumen to support your activities

Not Available Not available
WA ·         Must submit a business proposal with the visa application including a detailed budget, new employment, and total net assets in WA

·         The business proposal must clearly demonstrate how the business will contribute positively to the WA economy and create jobs

·         Applicants and family members (dependents) residing in Australia are required to live, work and/or study in WA

$750  4 weeks
SA ·         Must intend to live in South Australia

·         Propose an investment or business activity in SA that will meet SA state nomination ‘benefit to state requirements’ for subclass 888

·         If you are over 55, you must demonstrate that the proposal will be of exceptional economic benefit to SA by meeting a higher investment threshold

·         Provide detailed information on the viability and economic impact of the proposal to South Australia

·         Agree to register your arrival in South Australia with Skilled & Business Migration and maintain current contact details for the duration of your visa

N/A Not available
TAS ·         Must be a successful business owner or innovator proposing a new business or partnering with an existing Australian business partner to develop new technologies or innovations, enhance industry capabilities, or offer a product or service with a distinct point of difference and is suited to the Tasmanian conditions

·         Be able to invest at least A$200,000 to establish a new business or purchase an existing business in Tasmania

·         Must have a realistic, well-researched and plausible business plan

·         Demonstrate that you have or can acquire the relevant knowledge, skills, experiences, qualifications, licenses etc. to undertake senior level day-to-day and strategic management of the business in Tas

·         Must have sufficient settlement funds to settle in Tas

·         Must intend to live in Tasmania and contribute to Tasmania’s economy while you hold the visa

·         Must agree to nomination undertakings

No fees – Tasmania has received a quota of 45 nomination places for 2021-22 Not available
All applicants must meet the following:

For 2 out of 4 fiscal years immediately before you receive an invitation to apply for the 188 visa, you must have had an ownership stake in 1 or 2 businesses that had at least AUD750,000 turnover in each of those 2 years.

Before you are invited to apply for the 188 visa, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD1,250,000. Your funds must be available to transfer to Australia within 2 years of granting the visa.

You must score at least 65 points on the points test.

State and Territory nominated visa allocations (2023 – 2024)

Following consultation with States and Territories, the following nomination levels have been allocated for 2023-24 and comparison to the previous financial year):

2023–24 state and territory nomination allocations
State Skilled Nominated (Subclass 190) visa Skilled Work Regional (Subclass 491) visa Business Innovation and Investment Program (BIIP)*
ACT 600 (-200) 600 (-1,320) 0 (-10)
NSW 2,650 (-4,510) 1,500 (-3,370) 0 (-260)
NT 250 (-350) 400 (-440) 0 (-15)
QLD 900 (-2,100) 650 (-550) 0 (-235)
SA 1,100 (-1,600) 1,200 (-1,980) 0 (-70)
TAS 600 (-1,400) 600 (-750) 0 (-10)
VIC 2,700 (-6,300) 600 (-1,800) 0 (-170)
WA 1,500 (-3,850) 850 (-1,940) 0 (-40)
Total 10,300 (-20,310) 6,400 (-12,150) 0 (-810)

* ​No new allocations have been given for the BIIP. The Department has enough applications on-hand to meet the 2023–​24 planning level for the BIIP.​

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