NSW nomination requirements – Subclass 188 and Subclass 888 visa’s (SIV)

New South Wales nomination criteria for the Extension Significant Investment (Subclass 188) Visa and the Permanent Significant Investment (Subclass 888) Visa.

Nomination Requirements

NSW Business Innovation and Investment (Provisional) visa

(Subclass 188) 

Applicants for NSW nomination for a Significant Investor Visa (SIV) need to meet NSW nomination requirements and the Department of Immigration and Border Protection (DIBP) visa requirements.

1. Visa requirements Department of Immigration and Border Protection visa criteria: You must meet DIBP criteria for this visa

2. Investment requirements
First visa extension: You must meet criteria 2.1, 2.2 or 2.3 below.

2. 1. If you were nominated by NSW before 1 September 2014, you have held a
complying investment* continuously for the whole of the period during which you
have held your Provisional SIV, including at least $1.5 million in NSW Waratah
Bonds.

2.2. If you were nominated by another state/territory before 1 September 2014, you
have held a complying investment* continuously for the whole of the period during
which you held your Provisional SIV and you meet 2.2(a) or 2.2(b) below:

a) You have invested at least $1.5 million in NSW Waratah Bonds; or
b) You can demonstrate investment activity in NSW of at least $1.5 million**, and

i) You can demonstrate that you have established a residence in NSW, and
ii) You have a genuine commitment to undertake further beneficial business
or investment activity in NSW.

2.3. If you were nominated after 1 September 2014, you have held a complying
investment* continuously for the whole of the period during which you have heldyour Provisional SIV.

Second visa extension: You have held a complying investment* continuously for the whole of the period during which you have held an Extension SIV.

3. Investment and settlement update
You have updated NSW with your investment and settlement details.

4. Fee

You have paid the applicable NSW nomination application fee:

(a) If you were nominated by NSW for your Provisional SIV
$820 (offshore applicants)
$902 inclusive of GST (onshore applicants)

(b) If you were nominated by another state/territory for your current Provisional or
Extension SIV
$1,640 (offshore applicants)
$1,804 inclusive of GST (onshore applicants)

5. Letter of release

If you were nominated for your current SIV by another state/territory you must obtain a Letter of Release from that state/territory on DIBP Form 1414.

Notes:

(*) As per DIBP definition of ‘complying investment’
(**) Excludes residential real estate

Nomination Requirements

NSW Business Innovation and Investment (Permanent) visa

(Subclass 888)

Applicants for NSW nomination for the Significant Investor Visa (SIV) need to meet NSW nomination requirements and the Department of Immigration and Border Protection (DIBP) visa requirements.

1. Visa requirements
Department of Immigration and Border Protection visa criteria: You must meet DIBP criteria for this visa

2. Investment requirements
For applicants who hold their first Provisional SIV:

You must meet criteria 2.1, 2.2 or 2.3 below:

2. 1. If you were nominated by NSW before 1 September 2014, you have held a
complying investment* continuously for the whole of the period during which you
have held your Provisional SIV, including at least $1.5 million in NSW Waratah
Bonds.

2.2. If you were nominated by another state/territory before 1 September 2014, you have held a complying investment* continuously for the whole of the period during which you held your Provisional SIV and you meet 2.2(a) or 2.2(b) below:

a) You have invested at least $1.5 million in NSW Waratah Bonds; or
b) You can demonstrate investment activity in NSW of at least $1.5 million**, and

i) You can demonstrate that you have established a residence in NSW, and
ii) You have a genuine commitment to undertake further beneficial business or investment activity in NSW.

2.3. If you were nominated after 1 September 2014, you have held a complying
investment* continuously for the whole of the period during which you have held
your Provisional SIV.

For applicants who hold an Extension SIV:
You have held a complying investment* continuously for the whole of the period during
which you have held your Provisional SIV, including the period(s) during which you have
held an Extension SIV.

3. Investment and settlement update
You have updated NSW with your investment and settlement details.

4. Fee You have paid the applicable NSW nomination application fee:

(a) If you were nominated by NSW for your Provisional or Extension SIV: $1,270
(b) If you were nominated by another state/territory for your current Provisional or
Extension SIV: $2,090

5. Letter of Release

If you were nominated for your current SIV by another state/territory you must obtain a Letter of Release from that state/territory on DIBP Form 1414.

Notes:

(*) As per DIBP definition of ‘complying investment’
(**) Excludes residential real estate

Business Skills Migration

Note: For both visas, applicants who were nominated by NSW for their provisional visa simply need to have maintained the investment requirement that applied to them when they were first nominated.

For more information please don’t hesitate to contact us

 

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