Your Pathway to Australian Business & Investment Migration
Important: the Business Innovation and Investment Program closed permanently to new subclass 188 applications on 31 July 2024. No new 188 applications can be lodged. Applications already on hand continue to be processed, and refunds of the visa application charge are available for withdrawn applications. Existing 188 holders may still be eligible for permanent residence through the subclass 888 visa. Looking for a current pathway? Ask us about the National Innovation visa (subclass 858) or employer-sponsored and skilled options. The information below is retained for existing 188 visa holders only.
The Subclass 188 Visa is a provisional visa for high-net-worth investors, entrepreneurs, and business owners who want to establish or develop businesses in Australia. It is the first step toward permanent residency through the Subclass 888 Business Innovation & Investment (Permanent) Visa.
Key Features of the 188 Visa
✅ Provisional visa valid for up to 5 years
✅ Multiple entry rights during visa validity
✅ Pathway to permanent residency (Subclass 888)
✅ Bring eligible family members (spouse & dependent children)
✅ Flexible investment & business options
188 Visa Streams & Eligibility
1. Business Innovation Stream
For experienced business owners who want to establish or operate a business in Australia.
Requirements:
✔ Business turnover: AUD 750,000+ (for 2 of last 4 years)
✔ Personal & business assets: AUD 1.25M+
✔ Ownership stake: 30% (for businesses under AUD 400K turnover) or 10% (for publicly listed companies)
✔ Innovation points test: Minimum 65 points
2. Investor Stream
For high-net-worth individuals willing to invest AUD 2.5M in Australian assets.
Requirements:
✔ Investment of AUD 2.5M in complying investments
✔ Business/investment experience (3+ years)
✔ Net assets of AUD 2.5M+
3. Significant Investor Stream (SIV)
For investors committing AUD 5M in complying investments.
Requirements:
✔ Investment of AUD 5M (held for at least 4 years)
✔ No upper age limit (unlike other streams)
✔ No points test required
4. Entrepreneur Stream
For innovators with funding from a third party to develop a business in Australia.
Requirements:
✔ Funding agreement of at least AUD 200K from approved investors
✔ Innovative business idea with high-growth potential
5. Premium Investor Stream (PIV)
For ultra-high-net-worth investors committing AUD 15M.
Requirements:
✔ Investment of AUD 15M in complying assets
✔ Direct pathway to PR in 12 months
How the 188 Visa Process Works
- Check Eligibility – Assess points (for Business Innovation Stream) & financial requirements
- Submit EOI (Expression of Interest) – Via SkillSelect
- Receive State/Territory Nomination – Required for all streams
- Lodge Visa Application – Within 60 days of invitation
- Visa Grant
Why Choose the 188 Visa?
🔹 Flexible investment & business options
🔹 Pathway to permanent residency (Subclass 888)
🔹 No upper age limit for SIV & PIV streams
🔹 Family can be included in the application
How Immigrad Can Help
✅ Eligibility Assessment – Determine the best stream for you
✅ Business Plan Development – For Business Innovation applicants
✅ State Nomination Support – Connect with state investment bodies
✅ Visa Application Management – Avoid delays & refusals
Start Your Australian Business or Investment Journey
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Official Resources:
Home Affairs – 188 Visa
State Nomination Requirements
Note: Immigration regulations change frequently. While we maintain current knowledge, we recommend verifying information with the Department of Home Affairs or consulting a registered migration agent.
Comparison: 188 vs 888 Visa
| Feature | Subclass 188 (Provisional) | Subclass 888 (Permanent) |
|---|---|---|
| Visa Type | Temporary (5 years) | Permanent |
| Investment Lock-in | Required | Released after PR |
| Business Obligations | Must establish operations | Must prove 2+ years of activity |
| Processing Time | Check with agent | Check with agent |
| Pathway to Citizenship | No | Yes (after 4 years total residence) |
This page is general information only and is current as at the date shown in the page schema. The programme status and refund arrangements above were checked against the Department of Home Affairs. Complex cases need personal advice from a registered migration agent.
Frequently asked questions
Can I still apply for a subclass 188 visa?
No. The Business Innovation and Investment Program closed permanently to new applications on 31 July 2024, and no new subclass 188 applications can be lodged. Applications made before that date continue to be processed in line with the Migration Program planning levels and skilled visa processing priorities published by the Department of Home Affairs.
What happens to my subclass 188 application lodged before the closure?
Applications made before 31 July 2024 continue to be processed. The Department processes them in line with published Migration Program planning levels and skilled visa processing priorities. You can also choose to withdraw the application, and a refund of the visa application charge may be available for several streams if you withdraw on or after 31 July 2024.
Can I get my subclass 188 visa application charge refunded?
A refund of the subclass 188 visa application charge may be available if you withdraw your application on or after 31 July 2024. Refunds cover the Business Innovation, Investor, Significant Investor and Entrepreneur streams, but not the Business Innovation Extension or Significant Investor Extension streams. Withdrawals and refund requests are made through ImmiAccount.
Does withdrawing my application affect my current visa?
It can. The Department of Home Affairs warns that if you are in Australia, withdrawing a visa application may affect your visa status. Before withdrawing to claim a refund, check what substantive visa you hold and what the withdrawal would mean for your lawful status. Advice from a registered migration agent is worthwhile before you act.
What can subclass 188 holders do now?
Existing subclass 188 visa holders may still be eligible to apply for permanent residence through the subclass 888 visa if they meet the ongoing business or investment requirements for their stream. The closure of the programme to new applications does not remove the 888 pathway for people who already hold the provisional visa.
Related pages
Subclass 888 visa · Subclass 858 National Innovation visa · Employer-sponsored visas · Book a consultation