Added
created as discontinued BIIP/subclass 188 record after Home Affairs confirmed closure on 31 July 2024; investment tiers from official stream pages (immi.homeaffairs.gov.au).
AU
Australia Business Innovation and Investment (Provisional)
Discontinued
Worldwide
Australia · Subclass 188 (BIIP) · Investor visa · apply online
Minimum investment
$869,000
3 investment options
Stay
60
months, renewable
Application fee
$6,810
Tax
Worldwide
Australia progressive tax (0-45%)
Path to staying
- Residence permit60 months
- Renew48 months at a time
- Permanent residencyafter 3 years
- Citizenshipafter 4 years
- Permanent residency 3 years
- Citizenship 4 years
- Dual citizenship allowed
- Language required for citizenship B1
Overview
- Country
- Australia
- Program
- Australia Business Innovation and Investment (Provisional)
- Local name
- Subclass 188 (BIIP)
- Type
- Investor visa
- Status
- Discontinued (ended Jul 31, 2024)
- Initial duration
- 60 months
- Renewable
- Yes (48 mo)
Former provisional business and investor residency program (subclass 188) closed to new applications on 31 July 2024. Streams included Business Innovation, Investor, Significant Investor and Entrepreneur, with a pathway to permanent subclass 888 for eligible holders.
Investment options
| Type | Tier / zone | Min amount | USD equivalent | Holding | Returnable | Required |
|---|---|---|---|---|---|---|
| Business | Business Innovation stream | AUD 1,250,000 | $869,000 | 2 yr | Yes | Optional |
| Fund | Investor stream | AUD 2,500,000 | $1,739,000 | 4 yr | Yes | Optional |
| Fund | Significant Investor stream | AUD 5,000,000 | $3,477,000 | 4 yr | Yes | Optional |
Eligibility
- Minimum age 18+
- Criminal record check required
- Health check required
- Health insurance not required
- Endorsement State nomination
Work rights
- Employment allowed
- Self-employment allowed
- Own a business allowed
- Work permit included
Family and dependents
- Dependents allowed
- Yes
- Spouse included
- Yes
- Max child age
- 23
- Parents allowed
- No
Benefits and mobility
- Bank account can open
- Property purchase allowed
- Public healthcare access granted
Tax
- Tax regime
- Worldwide
- Regime name
- Australia progressive tax (0-45%)
- Foreign income taxed
- Yes
- Capital gains taxed
- Yes
How to apply
- Method
- online
- Apply from abroad
- Yes
Notes
DISCONTINUED: Home Affairs states the Business Innovation and Investment Program (BIIP) is closed as of 31 July 2024; applications lodged before that date continue to be processed. Migration Amendment (Business Innovation and Investment Program Closure) Regulations 2024 required new Business Innovation, Investor, Significant Investor and Entrepreneur stream applications to be made before 31 July 2024. Existing subclass 188 holders may still seek Business Innovation / Significant Investor extensions and, if criteria are met, the permanent subclass 888. VAC figures shown (AUD 9,795 main / AUD 4,890 family) are the amounts published on the Investor and Significant Investor stream pages at verification; confirm any remaining transitional charges on the live pricing table. USD approximations use AUD/USD ≈ 0.6955 (9 Oct 2026).
Also in Australia
Australia also offers a digital nomad visa for remote workers
Last verified Oct 9, 2026 Last changed Oct 10, 2026 Source