Business Innovation and Investment (Provisional) (subclass 188) visa · Work and skilled visas · Stream of Business Innovation and Investment (Provisional) visa
Significant Investor stream
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 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)
- Visa type
Closed to new applicants
Notice from the Department
This stream closed to applications on 31 July 2024. We will continue to process applications made before this date. If you withdrew your application on or after 31 July 2024, a refund of the Visa Application Charge (VAC) is available. For details, visit the BIIP closure and refunds page.
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.
Overview
Stay
Up to 5 years.
Government charge
From AUD18,335.00 (concessions apply in limited circumstances)
Cost Concession
From 1 July 2026, a lower visa cost applies to eligible Pacific Island and Timor-Leste citizens who lodge a valid visa application. See About this visa.
To work out what your visa will cost, use the Visa Pricing Estimator. The estimator does not take into account any other costs.
Processing times
For an indication of processing times for this visa, use the visa processing time guide tool. This will show the processing times for recently decided applications. It is a guide only and not specific to your application.
With this visa, you can
- carry out investment activity in Australia
- apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met.
You must
- be invited to apply for this visa
- be nominated by a State or Territory government agency or Austrade to invest at least AUD5 million that meets certain requirements and have a genuine intention to hold that investment for the life of your provisional visa
- have a genuine intention to live in the State or Territory whose government agency nominates you
Help with your visa
If you are getting help with your visa, before you pay someone, read information on Who can help with your visa application.
About this visa
With this visa, you can
- stay in Australia while the visa is valid
- undertake investment activity in Australia
- work and study in Australia
- attend free English language classes through the Adult Migrant English Program, if eligible
- travel to and from Australia as many times as you want while the visa is valid
- bring eligible members of your family with you
- apply for permanent residency, if eligible, through the Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream.
How long you can stay
This is a provisional visa. You can stay in Australia for up to 5 years if you were invited to apply on or after 1 July 2021.
If you applied after 1 July 2015, and were invited to apply for this visa before 1 July 2021, you can stay in Australia for up to 4 years and 3 months.
If you applied for this visa before 1 July 2015, you can stay in Australia for 4 years.
The visa is granted with multiple entries. You can leave and re-enter Australia as many times as you want while the visa is valid.
The visa starts on the date it is granted.
Stay longer
This is a provisional visa. You must apply for a new visa if you want to stay longer.
Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream, if you meet certain requirements. Explore your visa options.
If you need more time to apply for permanent residence, you can apply for a new Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream.
If granted, you will be able to travel to, enter and remain in Australia for up to 7 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream.
You can also apply for a second Significant Investor Extension stream visa. If granted, you will be able to travel to, enter and remain in Australia for up to 9 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream.
Include family
You can add your dependent child or children to your application at any time before we decide on your application. They will need to meet our health and character (if applicable) requirements.
The spouse or de facto partner of the main applicant who did not make a combined application at the initial lodgement of the subclass 188 visa, can make a subsequent entrant application. A subclass 188 visa can only be granted to a subsequent entrant after the main applicant’s subclass 188 visa is granted.
Complete the online 'Application for a Business Innovation and Investment (Subsequent Entrant) Visa' application form in ImmiAccount. An application charge is applicable.
In order for the main applicant to be granted the visa, family members who are not coming to Australia must meet our character requirements, and might have to meet our health requirements.
Cost
From AUD18,335.00 for the main applicant (concessions apply in limited circumstances).
There is also a charge for each family member who applies for the visa with you.
Any applicant who was at least 18 years old at the time of application, and is assessed as not having functional English, and has not paid a second instalment of the visa application charge in relation to their application for a Business Innovation and Investment (Provisional) (subclass 188) visa will have to pay this extra charge. Pay it only when we ask you to. We will refund the charge if we do not grant the visa to that applicant.
The second instalment charges are:
- main applicant: AUD9,795
- family members: AUD4,890
Use the Visa pricing estimator to work out what your visa will cost. The estimator does not take into account the second instalment or other costs. You might also have to pay other costs for health checks, police certificates and biometrics.
Cost concession for eligible Pacific Island and Timor-Leste visa applicants
From 1 July 2026, a lower visa cost applies to eligible Pacific Island and Timor-Leste citizens who lodge a valid visa application.
We will charge eligible applicants the lower visa application cost during the application process in ImmiAccount. We will recognise eligible applicants by the valid passport from the specified countries used in the application when they apply.
Family members are also eligible for the lower visa cost. We base this on the passport of the primary applicant (or visa holder who satisfies the primary visa criteria).
The primary applicant must hold a valid passport issued by one of the following countries:
- Federated States of Micronesia
- Fiji
- Kiribati
- Nauru
- Palau
- Papua New Guinea
- Republic of the Marshall Islands
- Samoa
- Solomon Islands
- Timor-Leste
- Tonga
- Tuvalu
- Vanuatu
Apply from
You can be in or outside Australia when you apply for the visa and when we decide on your application, but not in immigration clearance.
Processing times
For an indication of processing times for this visa, use the visa processing time guide tool. This will show the processing times for recently decided applications. It is a guide only and not specific to your application.
Your application might take longer to process if:
- you do not complete the application form correctly
- you do not include all the documents we need or we need more information from you
- it takes us time to verify your information
We can't process your application if you do not pay the correct visa application charge. We will notify you if this is the case and if necessary return your application.
Your obligations
You and your family members who are part of your application must comply with all visa conditions and Australian laws.
Learn more about conditions for this visa
Meet your business obligations
While the holder of this visa, you must have a genuine and realistic commitment to:
- you and/or your spouse or de facto partner must have a genuine intention to live in the State or Territory whose government agency nominated you
- continue business and investment activity in Australia after your visa ends
You must also maintain your investment for the whole of the visa period and comply with Australian workplace laws.
To be eligible for the grant of a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream, you must also live in Australia for at least 40 days per year for the duration of your provisional visa. Or your spouse or de facto partner must live in Australia for at least 180 days per year for the duration of your provisional visa. These days do not need to be consecutive.
Maintain your investment
You must make a complying significant investment of at least AUD5 million. You must hold complying significant investments continuously for the life of your provisional visa.
You can switch between complying significant investments if:
- you reinvest the funds you withdraw from an investment into other complying significant investments within 30 days
- the sum withdrawn is the same as, or less than, the sum reinvested irrespective of any gains and losses due to market exposures
If you reinvest funds into a complying significant investment within 30 days, we count that as holding them continuously.
If you withdraw funds from venture capital or emerging company investments, you must reinvest the funds into venture capital or emerging companies.
If you withdraw funds from the 'balancing investment' category of investments, you can reinvest them into another balancing investment, venture capital or emerging companies.
If you withdraw funds from venture capital because the venture capital investment has been realised, you must reinvest those funds. You can reinvest them in any eligible complying significant investment.
Income that you earn from your complying significant investment in Australia may be subject to tax under Australian taxation law.
Note that the investment rules that were in force at the time that you applied for your Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream will continue to apply for the duration of your visa. This includes any Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream visas you apply for that relate to your visa.
You might want to seek independent legal advice to ensure that an investment is a ‘complying significant investment’. It is your responsibility to ensure your investment options comply with this visa's requirements.
For more information about complying significant investments, see the Complying Investment Framework information sheet, and for the 1 July 2021 changes see Business Innovation and Investment Program: Getting a better deal for Australia.
Follow Australian workplace laws
All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.
If you operate a business in Australia, you must comply with workplace laws. The Pay and Conditions Tool (PACT) can help you with:
- pay rates
- shift calculations
- leave arrangements and notice
- redundancy entitlements
Adequate health insurance
We recommend you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia. Insurance can help limit your financial liability.
See what we consider adequate health insurance.
Learn more about health insurance for overseas visitors.
Reciprocal healthcare agreements
Some countries have a reciprocal healthcare agreement with Australia. Find out more from Services Australia about reciprocal healthcare agreements.
Travel
You can travel outside Australia and return as many times as you want while the visa is valid.
The time you spend outside Australia does not extend the visa.
Visa label
Australian visas are digital.
We do not put a visa label in your passport. Instead, we link your digital visa record to your passport.
Eligibility
Receive an invitation to apply
First, you must submit an Expression of Interest (EOI). If an Australian State or Territory government agency accepts your EOI and nominates you, we will invite you to apply for this visa.
Be nominated
You must be nominated by an Australian State or Territory government agency or Austrade before being invited to apply for this visa.
The State or Territory government agency or Austrade that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa.
Be able to invest at least AUD5 million
If you were invited to apply on or after 1 July 2021
If you were invited to apply on or after 1 July 2021, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD5 million when we invite you to, and have a genuine intention to hold that investment for the life of your provisional visa. It must be invested in the following proportions:
- at least AUD1 million in venture capital and growth private equity funds which invest in start-ups and small private companies
- at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
- a ‘balancing investment’ of at least AUD2.5 million in managed funds
The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate.
Direct investment in residential real estate is prohibited. Indirect investment in residential property through managed funds is strictly limited.
You must not use investments as security or collateral for a loan.
For more information about complying significant investments, see the Complying Investment Framework information sheet, and for the 1 July 2021 changes see Business Innovation and Investment Program: Getting a better deal for Australia.
If you were invited to apply before 1 July 2021
To be granted this visa, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD5 million when we invite you to, and have a genuine intention to hold that investment for at least 4 years. It must be invested in the following proportions:
- at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
- at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
- a ‘balancing investment’ of at least AUD3 million in managed funds
The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate.
Direct investment in residential real estate is prohibited. Indirect investment in residential property through managed funds is strictly limited.
You must not use investments as security or collateral for a loan.
For more information about complying significant investments, see the Complying Investment Framework information sheet, and for the 1 July 2021 changes see Business Innovation and Investment Program: Getting a better deal for Australia.
Not have a history of involvement in unacceptable activities
You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.
Have functional English language
All applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second instalment of the visa application charge.
Meet our health requirement
You and any family members who apply for the visa with you must meet our health requirement.
Family members who are not coming to Australia might also have to meet our health requirement.
Meet our character requirement
You and family members aged 16 years or over who apply for the visa with you must meet our character requirement.
Family members who have not applied for this visa must also meet the character requirement.
Sign the Australian values statement
If you and your family members who have applied for this visa are 18 years of age or older at the time of application, you and your family members must:
- have read, or had explained to you, the Life in Australia book
- sign an Australian Values Statement that confirms you will respect the Australian way of life and obey Australian laws
Have no debt to the Australian government
If you or any family members owe the Australian Government money, you or they must have paid it back or have an approved arrangement in place to pay it back
Not have had a visa cancelled or a previous application refused
We will consider your immigration history when we make a decision on your application, which means you might not be eligible for this visa if you have had a visa cancelled or refused.
In some circumstances you may still apply for a permanent visa if you have had a visa cancelled or an application refused see Limitations on applications in Australia.
If applying for a visa from outside Australia see Can I go to Australia.
If you want immigration assistance, see Who can help with your visa application.
Step by step
1Before you apply
You must submit an Expression of Interest (EOI), be nominated by a State or Territory government agency, or Austrade and then be invited to apply.
Help with your EOI
If you need help with your EOI you can use a registered migration agent or legal practitioner. For information on how to find someone to help you see Who can help you with your application.
Before you submit your EOI
You must submit an expression of interest (EOI) to let us know you want to apply for this visa.
Your EOI tells us about your skills, qualifications and investment experience. It lets us know which states and territories you would like to invest in. If you are eligible and a State or Territory government agency or Austrade nominates you, we might then invite you to apply for the visa.
Check your eligibility
Check that you meet all other eligibility criteria for the visa.
Each nominator will assess your EOI using their own criteria. Learn more:
- Austrade (Australian Government)
- Australian Capital Territory
- New South Wales
- Northern Territory
- Queensland
- South Australia
- Tasmania
- Victoria
- Western Australia
Gather your documents
If you receive an invitation to apply for the visa after you submit your EOI, you will need to provide documents that:
- prove all of the claims you make in your EOI
- support other eligibility criteria for the visa
You should have all these documents before you submit your EOI.
Submit an EOI
Submit your EOI via SkillSelect.
You can submit it from within or outside Australia.
Your EOI is not a visa application. There is no charge for submitting an EOI.
Select the Business Innovation and Investment (Provisional) visa (subclass 188).
You will receive an email confirming your EOI has been submitted.
After you submit your expression of interest
If you are nominated by an Australian State or Territory government agency or Austrade, we may invite you to apply for this visa.
Stay lawful
An EOI is not a visa application. Submitting an EOI does not mean you will get a Bridging visa.
If your current visa will expire before you lodge your subclass 188 visa application, you must apply for another visa to remain in Australia lawfully.
After you submit your EOI
You can change your EOI in SkillSelect if:
- you want to apply for a different visa
- your circumstances change - for example, if you change your occupation or your family structure changes
You can't make changes to your EOI after you have received an invitation.
Receive an invitation to apply for visa
You could receive an invitation any time within 2 years of submitting your EOI. If you are invited to apply for the visa, you will receive an email from SkillSelect. Receiving an invitation does not mean you will be granted the visa.
If you are invited, you have 60 calendar days to apply for the visa. This time will not be extended.
You must demonstrate that you satisfy all eligibility criteria. If you can't meet the eligibility criteria, we will not grant you the visa.
If you do not apply for the visa after two invitations, your EOI will be removed from SkillSelect.
If you can't meet the eligibility criteria
If you can't show that you can meet all other eligibility criteria, you should not apply for the visa at this time. If you want to update your EOI you can do that after the 60-day invitation period.
If this is your first invitation, you might be sent a second invitation after the 60-day invitation period.
If this is your second invitation, you will have to submit another EOI if you still want the visa.
Make changes to your EOI
New step summary
You can change your EOI in SkillSelect if:
- you want to apply for a different visa
- your circumstances change - for example, if you change your occupation
You can't make changes to your EOI after you have received an invitation.
If you do not receive an invitation
If you are not invited to apply within 2 years of submitting your EOI, your EOI will expire. We will send you an email when your EOI is about to expire.
You will need to submit a new EOI if you still want the visa.
Make sure your passports are up-to-date
You and your family members who are applying for this visa will need valid passports. If you plan to get a new passport, do this before applying.
Get help with your application
Only some people can help you with your application. If you appoint someone to give you immigration assistance they must be:
You can appoint anyone to receive documents on your behalf relating to your visa matter.
2Gather your documents
You will need to prove your identity, and provide documents about your proposed investment. You also need to provide documents about family members applying with you.
Applying from China, Macau, Hong Kong or Taiwan
If you are applying from the People’s Republic of China, Macau (SAR), Hong Kong (SAR) or Taiwan use the document checklist from the Australian Consulate General Hong Kong.
Provide accurate information
You are obliged to prove your identity and provide true information with your application. See what happens if you can't prove your identity or do not provide true information.
Identity documents
You and family members who apply for the visa with you, must provide:
Colour copies of the pages of your current passport showing photo, personal details, and passport issue and expiry dates.
Also provide:
- a national identity card, if you have one
- proof of change of name, if applicable
Documents that prove a change of name include:
- a marriage or divorce certificate
- change of name documents from an Australian Registry of Births, Deaths and Marriages, or the relevant overseas authority
- documents that show other names you have been known by
Significant Investor documents
Evidence of ownership and net value of your business and personal assets
Provide:
Form 1139A Statement of Assets and Liabilities Position (SALP) for a date less than 3 months before we invited you to apply for this visa. Indicate on the form which of these assets you intend to use to fund your AUD 5 million complying significant investment.
Evidence to support the ownership of all assets and liabilities and their values on the dates of each SALP. This may include:
- for cash assets: bank statements, showing the account name and balance
- for real estate assets: title deed, valuation certificate by an accredited property valuer, or mortgage certificate.
- for personal loans: loan agreements showing the borrower and lender, loan statements showing the amount borrowed and repayment schedule.
- for stocks and bonds: share or debentures certificates, fixed interest securities, ownership and market value of claimed marketable securities such as bonds.
- for business assets: financial statements for each business, prepared by an independent accountant to International Accounting Standards, including a balance sheet, profit and loss statement, and notes to the accounts. Your share of ownership in each business must also be evidenced by documents such as: historical company extracts; annual returns of directors and shareholders; partnership, trust or franchise agreements; purchase documents; share transfer documents.
If you want to include assets held by a trust, you must include a complete copy of the trust deed including all schedules.
How you will make your investment
Provide a list of your intended complying significant investments and the amounts of each investment. Note that you must not make your complying significant investment until after you lodge your application and we invite you to make the investment.
Source of funds
You need to provide your asset portfolio's source of funds
You need to provide a signed declaration listing the sources of funds for your asset portfolio, and that these funds were lawfully acquired.
Also give us evidence to support your source of funds declaration:
- for business income, give us evidence of business ownership, performance and profit distribution. For example, company registration and shareholder records, financial statements or taxation records
- for investment income, give us evidence of investment activities and performance. For example, statements issued by stocks trading company, property purchase and sale contracts, leases or investment product contracts.
- for gifted or inherited assets, give us duly witnessed gift deeds or wills. Also give us other evidence demonstrating how the original owner accumulated the assets
- for historical accumulation of wealth where official verifiable evidence is no longer available, , give us bank records demonstrating continuous ownership of funds over a substantial period.
- for assets held in Australia, give us evidence which links the assets to the declared sources
We will tell you when you need to make the complying investments and when we need this evidence. You must make the complying investment after you have applied for the visa.
You will need to show that the funds used to make the complying investments originate from the assets nominated to make the complying investments. The trail of funds must also be reasonably established with supporting evidence
English language documents
Provide proof that you have at least functional English.
All applicants (18 years or older at time of applying for this visa) who can't provide evidence of having at least functional English must pay a second instalment of the visa application charge.
If you or your dependants have less than functional English, provide a statement indicating your intention to pay the second visa application charge for each person with less than functional English.
We will advise you when to pay this.
Health documents
You do not need to provide health documents. The doctor will send them to us.
Character documents
You and family members aged 16 years and over who apply for the visa with you, provide:
- Form 80 Personal particulars for assessment including character assessment
- overseas police certificates from every country, including your home country, where you spent a total of 12 months or more in the last 10 years since you turned 16
- military service records or discharge papers if you served in the armed forces of any country
Tell us you are getting help
To nominate someone to:
- receive your correspondence, use Form 956A Appointment or withdrawal of an authorised recipient
- provide immigration assistance, use Form 956 Appointment of a registered migration agent, legal practitioner or exempt person.
Upload your written notification or your forms to ImmiAccount.
Partner documents
Provide your partner's:
- identity documents
- character documents
- documents about other relationships, if applicable
Provide either:
- your current marriage certificate or
- enough documents to prove you have been in a de facto relationship with your partner for at least 12 months before you apply
Documents that prove your de facto relationship include:
- joint bank account statements
- billing accounts in joint names
- joint leases or mortgages
- documents that show your partner has lived at the same address as you
Dependants under 18 documents
For every dependant 18 years old or younger who is applying with you, provide:
- copies of birth certificates or the family book showing the names of both parents of all your dependent children
- copies of the adoption paper, if applicable.
Parental responsibility documents
You must get consent for any applicant under 18 years of age to migrate to Australia from anyone who:
- has a legal right to decide where the child lives and
- is not coming to Australia with the child
They must complete either:
- Form 1229 Consent form to grant an Australian visa to a child under the age of 18 years
- a statutory declaration giving their consent for the child to visit Australia on this visa
Alternatively, you can show us:
- an Australian court order that allows your child to migrate to Australia, or
- that the laws of your home country allow them to migrate
Include:
- an identity document that shows the signature and photo of the person who completed the form or declaration, such as a passport or driver’s licence
- adoption papers or other court documents if applicable
Note: If your child is likely to turn 18 while your application is being processed, you will need to provide evidence they are dependent on you. See the section 'Dependants over 18 documents' below for further information. A child who turns 18 while your application is being processed and who is not dependent on you cannot satisfy the criteria for this visa.
Dependents over 18 documents
To include your child who is over 18 in your visa application, they must be:
- over 18 years of age but not yet turned 23, and dependent on you or your partner, or
- over 23 years of age and unable to earn a living to support themselves due to physical or cognitive limitations and dependent on you or your partner
Provide:
- identity documents
- documents about their other relationships, if applicable
- character documents
If your child is likely to turn 23 while your application is being processed, you will need to provide evidence they are dependent on you due to disability.
Proof of dependency
You must demonstrate that the child is dependent on you, by providing:
- proof of your relationship with the dependant such as a birth certificate or adoption papers
- a completed Form 47a Details of a child or other dependent family member aged 18 years or over
- proof of financial dependency such as bank statements, money transfers and rent receipts
- if the child is aged 23 or is likely to turn 23 while your application is being processed, you must also provide a report from a qualified medical practitioner that states they are dependent on you or your partner due to the total or partial loss of their bodily or mental functions
You must also prove this person has been financially dependent on you for at least 12 months before you apply. You could provide:
- proof they live with you
- their tax records
- proof they are currently studying
- proof of payments made by you to them or on their behalf
Note: If your child is likely to turn 18 while your application is being processed, you will need to provide evidence they are dependent on you. See the section 'Dependants over 18 documents' below for further information. A child who turns 18 while your application is being processed and who is not dependent on you cannot satisfy the criteria for this visa.
Prepare your documents
Translate
Have all non-English documents translated into English.
Provide original and translated documents in your application.
Translators in Australia must be accredited by the National Accreditation Authority for Translators and Interpreters.
Translators outside Australia do not have to be accredited. But on each translation, they must include their:
- full name
- address and telephone number
- qualifications and experience in the language they are translating
These details must be in English.
Note: You do not need to have any documents certified.
Scan or photograph
Scan or photograph all documents (English and non-English) in colour.
The scans and photos must be clear.
If a document is more than one page, save it all as one file.
3Apply for the visa
Apply for this visa online in ImmiAccount. You must be invited to apply. Your invitation letter contains instructions on how to lodge your application.
For all applications lodged from 13 November 2021, applicants should upload supporting documentation to ImmiAccount when lodging a subclass 188 Business Innovation and Investment visa application in all streams.
Uploading all documents to ImmiAccount will ensure efficient processing and help to reduce processing times. Please utilise naming conventions provided when uploading supporting documents. Where naming conventions are unavailable for a particular document/s, please ensure that a proper heading is provided to the attached document/s.
Provide accurate information
You are obliged to prove your identity and provide true information with your application. See what happens if you cannot prove your identity or do not provide true information.
Apply for the visa online in ImmiAccount
- Create an account or sign in to ImmiAccount
- Pay the application charge.
- Note the transaction reference number (TRN)
ImmiAccount will tell you the charge. We will not process your application until you pay the correct charge.
Send your documents
For applications lodged prior to 13 November 2021
After you submit your application online, send us your documents and other forms.
If you are applying from the People’s Republic of China, Macau (SAR), Hong Kong (SAR) or Taiwan use the document checklist from the Australian Consulate General Hong Kong.
If you live elsewhere, send your supporting documents via email to the mailbox address specified in the Acknowledgement of Application Received letter. You will receive this letter after you lodge your application via ImmiAccount.
For applications lodged after 13 November 2021
For all applications lodged from 13 November 2021, applicants should upload supporting documentation to ImmiAccount when lodging a subclass 188 Business Innovation and Investment visa application in all streams via ImmiAccount.
4After you apply
We will let you know when we have received your application.
Status updates
We cannot provide updates on applications. You will be contacted if additional information is required. Please wait for us to contact you.
Travel after you apply
You do not have to tell us if you want to travel outside Australia while we process your application. This is because you can be outside Australia when we make a decision.
But if you leave Australia, make sure you have a valid visa if you plan to return to Australia before a decision is made on your application.
Learn about visa expiry.
Learn about Bridging visas
Health exams
If you did not have health examinations before you applied, we will let you know if you need them.
Biometrics
We might ask for biometrics (fingerprints and photo). We will let you know if you need to provide them.
Provide more information
If you didn't send us all documents when you applied, send them as soon as you can.
Applying from China, Macau, Hong Kong or Taiwan
If you are applying from the People’s Republic of China, Macau (SAR), Hong Kong (SAR) or Taiwan use the document checklist from the Australian Consulate General Hong Kong.
If you live elsewhere, send your supporting documents via email to the mailbox address specified in the Acknowledgement of Application Received letter. You will receive this letter after you lodge your application via ImmiAccount.
Adding family members
You can add your dependent child or children to your application any time before we decide on your application. They will need to meet our health and character (if applicable) requirements.
Complete Form 1436 Adding an additional applicant after lodgement and
- send it to the email address we gave you when you sent your application
- include evidence of the child's relationship to you
- include other supporting documents for your child, such as identity documents
- pay the additional application charge
The spouse or de facto partner of the main applicant who did not make a combined application at the initial lodgement of the subclass 188 visa, can make a subsequent entrant application. A subclass 188 visa can only be granted to a subsequent entrant after the main applicant’s subclass 188 visa is granted.
Complete the online 'Application for a Business Innovation and Investment (Subsequent Entrant) Visa' application form in ImmiAccount. An application charge is applicable.
Newborn children
Find out what to do if your child is born after you apply.
Mistakes on your application
Let us know as soon as you can if you made a mistake on your application.
Make your investment
When we are satisfied that you meet all other criteria for this visa, we will invite you in writing to make a complying significant investment. Do not make your complying significant investment until we invite you to do so, as your visa will not be granted if you cannot satisfy all other criteria for this visa. Any investment made before lodging the application will not meet the requirements of this visa.
If we invite you to make a complying significant investment, your invitation letter will state the sources of funds that we have accepted for you to use for the investment.
You must make the investment within the timeframe stated in the letter (usually 70 days).
When you have made the investment, you must provide our office with:
- Evidence of each transaction that occurred in the movement of funds from the approved sources to each component of the complying significant investment
- Form 1413D Declaration for each investment component. The form must be signed by the responsible fund manager for each component of the investment after the relevant investment component has been made.
If your Venture Capital and Growth Private Equity (VCPE) component has not been finalised at that stage, provide:- If funds are held in a cash management trust: Form 1413D completed by the manager of the trust; or
- If funds are in an Australian Authorised Deposit Taking Institution (ADI): an account statement showing the funds, and a signed declaration confirming that you will use the funds for investing in VCPE funds. The list of ADIs is on the Australian Prudential Regulation Authority (APRA) website.
Stay lawful
If you are in Australia, make sure you stay lawful by holding a valid visa while we process your application.
When you applied for this visa, if you were in Australia, you were granted a Bridging visa A (BVA). If your current visa expires before we decide on your application, the BVA will start.
You can stay in Australia on the BVA while we process your new visa application. However, if you intend to leave Australia and return while holding a BVA, you will need to apply to our office for a Bridging Visa B (BVB) or make alternative visa arrangements to return, as your BVA expires when you leave Australia.”
Do not cancel your current visa. If you do, you will:
- be staying in Australia unlawfully
- not be eligible for a Bridging visa A
Learn more about visa expiry.
Learn about Bridging visas
Help with your application
Let us know if you no longer want someone to:
- receive your correspondence - complete Form 956A Appointment or withdrawal of an authorised recipient
- provide immigration advice - complete Form 956 Appointment of a registered migration agent, legal practitioner or exempt person.
Upload your written notification or your forms to ImmiAccount.
For more information see Who can help you with your application.
Tell us if things change
Things you need to let us know about after you have applied include:
- changes to your phone number, email, address or passport
- changes to your marital or de facto status
- the birth of a child
- you want to withdraw your application
See how to tell us if your situation changes
Pay the second instalment
If you need to pay a second instalment, we will send you an invoice after you have met all other requirements for the visa. Pay the invoice after you get it.
You must pay the instalment before we will grant the visa.
5Visa outcome
We will let you know in writing our decision about your visa application. If we grant you the visa, we will tell you:
- your visa grant number
- the date your visa starts
- your visa conditions
Keep a copy of the decision with you when in Australia.
If we refuse your visa, we will tell you why it was refused and whether you have a right to a review of the decision.
We will not refund the application fee if we refuse your application.
When you have this visa
Coming to Australia
Before you leave
Check your travel documents
You must have:
- a valid visa to enter Australia
- a valid passport or other travel document
At the border
Completing an Incoming Passenger Card
All people arriving in Australia must complete the Incoming Passenger Card. You will be given this card onboard the aircraft.
Leaving the airport faster
We have an automated process that uses facial recognition technology and your ePassport. You might be able to leave the airport faster if you use SmartGate.
In Australia
What you can do when you have this visa
This is not a permanent visa. With this visa you can:
- carry out investment activity in Australia
- travel to, enter and remain in Australia for up to 5 years
- bring eligible members of your family with you
- apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met.
To see your specific conditions, work and study entitlements use VEVO.
What you must do on this visa
To see your specific conditions, work and study entitlements use VEVO.
In particular, you must maintain your investment and comply with Australian workplace laws.
Maintain your investment
You must hold a complying significant investment continuously for the life of your provisional visa.
Income that you earn from your investment in Australia is subject to Australian taxation law.
Follow Australian workplace laws
All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.
If you operate a business in Australia, you must comply with workplace laws. The Pay and Conditions Tool (PACT) can help you with pay rates, shift calculations, leave arrangements and notice and redundancy entitlements.
Tell us if things change
Things you need to let us know about include:
- changes to your phone number, email, address or passport
- changes to your relationship status
- the birth of a child
See how to tell us when your situation changes.
See how long you can stay
This is a provisional visa. You can stay in Australia for 4 years and 3 months. If you applied before 1 July 2015, you can stay for 4 years.
The visa starts on the date we grant it.
To see when you must leave, use VEVO.
Staying longer
This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence if certain requirements are met. Explore your visa options.
Apply for permanent residence
Once you have the provisional visa, you can apply for the Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met.
If you applied for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream prior to 1 July 2015, you will be eligible to apply for a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream after 3 years and 11 months.
Extend your stay in Australia
If you need more time to apply for permanent residence, you can apply for a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream to extend your stay in Australia.
A person can be granted a maximum of 2 visas in this stream.
Travelling on your visa
This is a multiple entry visa. You can travel outside Australia and return as many times as you want while the visa is valid.
The time you spend outside Australia does not extend the visa.
See your conditions.
Proving you have a visa
To prove you have a visa and/or show your conditions to someone, use VEVO.
Request your international movement records to get proof of your travel in and out of Australia.
Bringing family
After you are granted this visa, if members of your family want to apply for the same visa, they must submit a separate online application. Any additional family members are called 'subsequent entrants'.
Newborn and dependent child or children can be added to your 188 visa application before we decide on your application. However, your spouse or de-facto partner, who did not make a combined application with you at the initial lodgement of your application, can apply for the 188 visa under subsequent entrant. A subclass 188 visa can only be granted to a subsequent entrant after the main applicant’s subclass 188 visa is granted.
Complete the online 'Application for a Business Innovation and Investment (Subsequent Entrant) Visa' application form in ImmiAccount. An application charge is applicable.
Leaving Australia
Before you leave
Check your travel documents
You must have a valid passport or other travel document to leave Australia.
At the Border
Leaving the airport faster
We have an automated process that uses facial recognition technology and your ePassport. You might be able to leave the airport faster if you use SmartGate.
After you leave
Proving you have been to Australia
Request your international movement records to get proof of your travel in and out of Australia.
All streams of the Business Innovation and Investment (Provisional) 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.
Open the official page
Next step
Have a visa question or need help getting started?
A 30-minute consultation gives us time to discuss your circumstances, consider initial options and identify the documents that need checking. Some matters require a further review of the records before I can give a complete assessment.