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Subclass 188 · Work and skilled visas

Business Innovation and Investment (Provisional) visa

The 188 programme closed to new applications in July 2024. Existing holders should check the rules that remain available for their stream and any eligibility for the 888. Closure should not be read as a promise of an equivalent replacement programme.

This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia

Stay: Up to 5 years
Government charge: From A$12,505
Visa type: Closed to new applicants

Official information from the Department of Home Affairs

The material below reproduces English-language information from the Department of Home Affairs about this visa. Requirements may have changed since it was added to this website. Use the source link to check the latest information; I can explain relevant provisions in Vietnamese or English during a consultation.

The Business Innovation and Investment Program (BIIP) is closed as of 31 July 2024. Applications made before this date will still be processed. You may be entitled to a refund of your Business Innovation and Investment (subclass 188) Visa Application Charge (VAC) for the Business Innovation, Investor, Significant Investor or Entrepreneur streams if you withdrew your application on or after 31 July 2024.

For more information see BIIP closure and refunds.

Choose a stream

This visa has several streams, each with its own criteria and charge. Open the one that matches your situation to read the complete official information.

Business Innovation and Investment (Provisional) (subclass 188) visa

Business Innovation stream

This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia. This stream closed to new applications on 31 July 2024.

Stay: Up to 5 years.
Government charge: From AUD12,505.00 (concessions apply in limited circumstances)

Key points

You must operate a new or existing business in Australia.
You must be nominated by an Australian state or territory government agency.

Open this stream

Business Innovation and Investment (Provisional) (subclass 188) visa

Investor stream

This provisional visa requires you to make a complying significant investment or a designated investment and maintain business or investment activity in Australia. This stream closed to new applications on 31 July 2024.

Stay: Up to 5 years.
Government charge: From AUD12,505.00 (concessions apply in limited circumstances)

Key points

You must make a complying significant investment or a designated investment.
You must be nominated by an Australian state or territory government agency.

Open this stream

Business Innovation and Investment (Provisional) (subclass 188) visa

Significant Investor stream

This provisional visa requires you to invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia. This stream closed to new applications on 31 July 2024.

Stay: Up to 5 years.
Government charge: From AUD18,335.00 (concessions apply in limited circumstances)

Key points

You must invest at least AUD5 million in complying significant investments in Australia.
You must be nominated by an Australian state or territory government agency or Austrade.

Open this stream

Business Innovation and Investment (Provisional) (subclass 188) visa

Business Innovation Extension stream

This provisional visa lets you extend your stay in Australia if you hold a subclass 188 visa in the Business Innovation stream.

Stay: Up to 6, 7 or 8 years after the date of grant of the original subclass 188 visa in the Business Innovation stream.
Government charge: From AUD1,505.00 (concessions apply in limited circumstances)

Key points

Extend your stay for 2 more years.
You must hold a subclass 188 visa in the Business Innovation stream.
You must have held your subclass 188 visa in the Business Innovation stream for at least 3 years.
You must be nominated by an Australian state or territory government agency.

Open this stream

Business Innovation and Investment (Provisional) (subclass 188) visa

Significant Investor Extension stream

This provisional visa lets you extend your stay in Australia for maximum total of four years, by applying for up to two Extension stream visas, if you hold a subclass 188 visa in the Significant Investor stream.

Stay: Up to 9 years after the date of grant of the original subclass 188 visa in the Significant Investor stream.
Government charge: From AUD1,505.00 (concessions apply in limited circumstances)

Key points

Extend your stay for up to 4 more years. This means you can stay in Australia for a total of up to 9 years from the date of grant of your subclass 188 visa in the Significant Investor stream.
You must hold a subclass 188 visa in the Significant Investor stream for at least 3 years, or a subclass 188 visa in the Significant Investor Extension stream.
You cannot have held more than one subclass 188 visa in the Significant Investor Extension stream.
You must be nominated by an Australian state or territory government agency or Austrade.

Open this stream

Business Innovation and Investment (Provisional) (subclass 188) visa

Premium Investor stream

This provisional visa requires you to be nominated by Austrade and invest at least AUD15 million in Australian investments and/or philanthropic contributions. This stream closed to new applications on 1 July 2024.

Stay: Up to 4 years and 3 months.
Government charge: From AUD9,455.00

Key points

You must invest AUD15 million in Australian investments and/or philanthropic contributions that meet certain requirements.
You must be nominated by Austrade.

Open this stream

Business Innovation and Investment (Provisional) (subclass 188) visa

Entrepreneur stream

This visa requires you to be a startup and early-stage entrepreneur who has been endorsed to develop your concepts and been nominated by a state or territory government agency. This stream closed to new applications on 31 July 2024.

Stay: Up to 5 years
Government charge: From AUD8,455.00 (concessions apply in limited circumstances)

Key points

You must first be nominated by an Australian state or territory government agency.

Open this stream

Basic eligibility

Submit expression of interest (EOI) in SkillSelect
Nominated by a state or territory government agency or Austrade
Invited to apply for the visa

Official source: Department of Home Affairs, immi.homeaffairs.gov.au. © Commonwealth of Australia. Refer to the source website for its copyright and conditions of use.

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