Commonwealth Migration Group

Business & Investor

Business Innovation & Investment (Provisional) · 188

Bring your business skills or investment capital to Australia — provisional residence with a pathway to PR.

Pathway to permanent residence via Subclass 888 after meeting activity requirementsState or territory government nomination required for most streams; invitation from the MinisterNot points-tested (but a points test applies to Business Innovation and Investor streams for ranking)Required for most streams — at least Competent English for some; Functional for others
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Overview

The Subclass 188 Business Innovation and Investment (Provisional) visa is for business owners, investors and entrepreneurs who want to own and manage a business, or make a designated investment in Australia. It has multiple streams: Business Innovation (existing business owners), Investor (significant financial assets), Significant Investor (AUD 5 million complying investment), Entrepreneur (venture capital–backed startup), and Premium Investor (AUD 15 million). Most streams require a state or territory nomination and an invitation from the Minister. The 188 leads to the permanent Subclass 888.

Subclass188
StreamsBusiness Innovation, Investor, Significant Investor, Entrepreneur, Premium Investor
Who it's forBusiness owners, investors, entrepreneurs with substantial business or financial track record
Nomination required?Yes — state/territory government for most streams
Stay period4 years (Business Innovation, Investor); 5 years (Significant Investor, Entrepreneur)
EnglishCompetent English (IELTS 6 each band) for main streams; Functional English for Significant Investor
Net assetsVaries by stream — at least AUD 1.25M (Business Innovation) to AUD 15M (Premium Investor)
Leads to PRYes — via Subclass 888 after meeting stream-specific activity requirements

Who it's for

  • Business Innovation stream: own or part-own a business with at least AUD 750,000 turnover and net personal/business assets of at least AUD 1.25 million.
  • Investor stream: at least AUD 2.25 million in designated investments and state/territory government nomination.
  • Significant Investor stream: at least AUD 5 million invested in complying investments for 4 years, and state/territory nomination.
  • Entrepreneur stream: backed by at least AUD 200,000 from an approved venture capital or government funding body.
  • Receive a state/territory government nomination (required for most streams) and an invitation from the Department.
  • Meet health and character requirements.

Cost & timeline

Government charge

The Visa Application Charge varies by stream — around AUD 9,850 for the Business Innovation stream primary applicant (2025–26); other streams have different charges, and some have higher VACs. Verify the current figure on homeaffairs.gov.au.

Processing time

Processing times vary considerably by stream and state nomination volume — commonly 12–24 months from EOI to visa grant for standard streams. Significant Investor stream may differ.

How to apply

  1. 1

    Submit an Expression of Interest

    Lodge an EOI in the Business and Innovation Selection (BIS) system claiming points or meeting stream requirements.

  2. 2

    Receive a state nomination

    Apply to a state or territory government for nomination — each has its own criteria, fees and quotas.

  3. 3

    Receive an invitation

    The Department invites you to apply after nomination is confirmed.

  4. 4

    Lodge the visa application

    Apply for the Subclass 188 within the timeframe stated in the invitation.

  5. 5

    Meet health and character requirements

    Complete health examinations and provide police clearances.

  6. 6

    Fulfil activity requirements and apply for 888

    During the provisional period, meet the stream-specific business/investment activity requirements, then apply for the permanent Subclass 888.

Recent changes (2024–2026)

The Business Innovation and Investment Program was closed to new primary applications effective 1 July 2024 — the Subclass 188 is no longer accepting new EOIs for most streams for new applicants, with the National Innovation Visa (858) replacing the high-calibre stream.
Existing 188 holders who received grants before the closure can continue their stay and transition to the 888 PR visa by meeting activity requirements.
State nomination programs have varied quotas and some states have paused certain streams — verify current availability with the relevant state authority.
Confirm the current program status before advising clients — the 188 landscape changed significantly in 2024.

Figures and lists are indicative and change frequently — always verified against homeaffairs.gov.au before we advise you.

Frequently asked

Is the Subclass 188 still open for new applications?+
The BIIP was closed to new primary EOIs from 1 July 2024 for most streams. Existing 188 holders can continue and apply for the 888. Check the Department's website for the latest status.
How does the 188 lead to permanent residence?+
After meeting the stream-specific activity requirements during the provisional period (e.g. maintaining business ownership, investment levels, and time spent in Australia), you apply for the permanent Subclass 888.
What replaced the Business Innovation stream for new applicants?+
The National Innovation Visa (Subclass 858) replaced the high-calibre talent stream. For business owners and investors, limited pathways remain — seek specific advice.
Do I need to live in the nominating state?+
Generally yes, especially for the Business Innovation stream — you must operate your business in the nominating state. Requirements vary by stream and state.

Related pathways

Subclass 189

Skilled Independent

Australia's flagship points-tested PR visa for skilled workers — no sponsor, no state, no employer required.

View pathway

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