Status of the 188 Visa Program

The Australian Government closed the Business Innovation and Investment Program (BIIP) to new applications in 2024. New applicants can no longer lodge applications for the 188 visa Australia.

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Applicants who submitted applications before the program closure continue through the visa processing stages. Eligible visa holders may still pursue permanent residency through Business Innovation and Investment Visa (Subclass 888).

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The information below describes how the visa subclass 188 program operated and how existing applicants progress through the migration pathway.

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What Is the 188 Visa?

The 188 visa served as a provisional visa for entrepreneurs, investors, and business owners who wanted to conduct business or investment activity in Australia.

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The visa allowed holders to:

• establish a new business in Australia

• purchase and manage an existing business

• invest in Australian investment funds

• develop innovative entrepreneurial projects

• build eligibility for permanent residency

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The provisional visa typically remained valid for several years while applicants developed business operations or maintained investments.

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Streams Under the 188 Visa

The 188 visa Australia included several streams designed for different types of investors and entrepreneurs.

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Business Innovation Stream

This stream targeted experienced business owners who planned to establish or manage a business in Australia.

Applicants needed strong business turnover and significant personal assets.

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Investor Stream

Applicants committed AUD 1.5 million into approved state or territory investments and maintained business or investment activity during the visa period.

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Significant Investor Stream

This stream required a AUD 5 million investment in complying Australian investments.

High-net-worth investors often selected this pathway.

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Premium Investor Stream

This stream required AUD 15 million in approved investments or philanthropic contributions and nomination through Austrade.

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Entrepreneur Stream

This stream supported entrepreneurs who developed innovative startup projects or entrepreneurial ventures in Australia.

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188 Visa Australia Requirements

Applicants for the 188 visa Australia needed to satisfy several eligibility requirements depending on the visa stream.

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Common requirements included:

Business Experience

Applicants needed strong experience in business ownership, management, or investment activities.

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Personal and Business Assets

Many streams required applicants to demonstrate significant personal or business assets to support investment or business activity in Australia.

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Investment Funds

Some streams required major financial commitments.

StreamMinimum Investment

Investor StreamAUD 1.5 million

Significant InvestorAUD 5 million

Premium InvestorAUD 15 million

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State or Territory Nomination

Applicants required nomination from an Australian state or territory government.

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Genuine Business Activity

Applicants needed to demonstrate a genuine commitment to operating or investing in business activity in Australia.

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188 Visa Pathway to Permanent Residency

Many applicants used the visa 188 pathway to progress toward permanent residency in Australia.

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A typical pathway included:

1. obtain the 188 visa Australia

2. operate a business or maintain investments in Australia

3. satisfy business or investment performance requirements

4. apply for Business Innovation and Investment Visa (Subclass 888)

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The subclass 888 visa grants permanent residency for eligible business migrants.

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Business Innovation and Investment Program Reforms

The Australian Government introduced reforms to the Business Innovation and Investment Program (BIIP) in July 2021.

The reforms simplified the program and adjusted eligibility requirements.

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The revised structure included four main streams:

• Business Innovation

• Entrepreneur

• Investor

• Significant Investor

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The reforms also introduced changes to investment thresholds and business turnover requirements to attract applicants with strong business capability.

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Who Used the 188 Visa?

The 188 Australian visa targeted experienced entrepreneurs and investors who planned to contribute to Australia's economy.

Typical applicants included:

• international business owners expanding global operations

• investors seeking long-term business migration opportunities

• entrepreneurs launching startup companies

• companies establishing operations in Australia

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These applicants created business growth, investment activity, and employment opportunities across Australian industries.

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Frequently Asked Questions

What is the 188 visa?

The 188 visa is a provisional business visa that allowed entrepreneurs and investors to conduct business or investment activity in Australia.

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Is the 188 visa still available?

The Australian Government closed the Business Innovation and Investment Program to new applications in 2024.

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What is the investment requirement for the 188 visa?

Investment requirements depended on the visa stream. The Investor stream required at least AUD 1.5 million, while the Significant Investor stream required AUD 5 million.

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Can the 188 visa lead to permanent residency?

Yes. Eligible visa holders may apply for permanent residency through Business Innovation and Investment Visa (Subclass 888).

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Explore Your Business Migration Options

Starting a business migration journey often involves significant investment, long-term planning, and complex eligibility requirements.

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Many entrepreneurs and investors prefer professional guidance before making migration decisions.

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A registered migration agent can review your business background, investment capacity, and long-term goals to help identify the most suitable visa pathway.

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During a consultation, we can help you:

• assess your eligibility for Australian business visas

• understand available migration pathways

• review investment or business requirements

• plan the next steps for your migration strategy

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If you want personalised advice about business migration to Australia, our team can help you explore the available options.