NSW offers more opportunities for business migrants

From the beginning of this year, the New South Wales Department of Industry has removed the ‘excluded industry sectors’ criteria from NSW business visa nomination requirements.

This means that business migrants looking to settle in NSW will have greater choice in the type of business they would like to set up.

The sectors previously excluded were:

Cafes & Restaurants; Takeaway Food Services; Supermarket & Grocery Retail Stores; Fruit & Vegetable Retailing; Specialised Food Retailing; Newspaper & Book Retailing; Clothing Retailing; Footwear Retailing; Other Personal Accessory Retailing; Houseware Retailing; Manchester & Other Textile Goods Retailing; Other Electrical & Electronic Goods Retailing.

There are four business visas that had an excluded sector criterion listed in the NSW nomination requirements:

– Business Innovation and Investment Program (BIIP) Provisional visa – subclass 188 Business Innovation Stream;

– Business Talent visa – subclass 132 Significant Business History Stream;

– BIIP Permanent visa – subclass 888 Innovation Stream; and

– State/Territory Sponsored Business Owner visa.

By removing the secluded sector criteria, the NSW Department of Industry aims to attract more business migrants who produce goods and services to all areas of the state.  It should be noted that the ‘excluded industry sector’ criteria previously only restricted the type of businesses that business migrants could set up in Sydney. It did not apply for businesses in Regional NSW.

The business migration programme plays an important role in making NSW a globally attractive location to live, learn, work, invest and to produce goods and services. The state government is hopeful that the new criteria will support the aim of the NSW migration programme to create jobs, boost productivity and strengthen the economy.