Overview
Know what's actually still open
Australia's former Business Innovation and Investment Program
covering the Business Innovation, Investor, Significant Investor,
Premium Investor and Entrepreneur streams closed to new applicants
between 1 and 31 July 2024, along with the related Business Talent visa.
Three pathways remain open today. Existing subclass 188 holders can
apply for one of two extension streams, or progress to the subclass 888
permanent visa once they meet the holding-period and activity requirements.
Separately, the government runs the National Innovation visa (subclass 858),
a permanent, invitation only pathway for individuals with an internationally
recognised record of exceptional and outstanding achievement in a qualifying field.
We help existing 188 holders assess and pursue an extension or a permanent
888 application, help genuinely high-achieving applicants work out whether
they meet the threshold for the National Innovation visa, and for business
owners who don't fit either category, we'll talk honestly about whether a
skilled or employer-sponsored visa is now a more realistic way into Australia.
Subclass 188 — Business Innovation and Investment (Provisional) visa
Who this pathway is for
-
Business Innovation stream holders wanting to extend under the
Business Innovation Extension stream.
-
Significant Investor stream holders wanting to extend under the
Significant Investor Extension stream.
-
Business owners wanting to confirm whether their existing 188 visa
is still eligible for an extension.
-
Business owners wanting an honest assessment of whether a different
pathway now suits them better.
Key facts
Visa types
Business Innovation Extension stream and Significant Investor
Extension stream. All other subclass 188 streams are closed to
new applicants.
Closed to new applicants
Business Innovation, Investor and Entrepreneur streams
(closed 31 July 2024); Premium Investor stream
(closed 1 July 2024).
Nomination
State or territory government agency for the Business Innovation
Extension stream; state, territory or Austrade for the Significant
Investor Extension stream.
Worth knowing
Business Innovation Extension adds 2 years, up to 6, 7 or 8 years
in total. Significant Investor Extension adds up to 4 more years
across two applications, up to 9 years in total. Both require at
least 3 years already held on the prior visa.
Check my eligibility
Subclass 888 — Business Innovation and Investment (Permanent) visa
For eligible subclass 188 holders ready to make their stay in Australia permanent.
Who this pathway is for
-
Subclass 188 holders in the Business Innovation, Investor,
Significant Investor, Premium Investor or Entrepreneur stream
who have met their stream's holding period and activity requirements.
-
Certain subclass 444 or eligible subclass 457 visa holders applying
under the Business Innovation stream.
-
Business owners and investors ready to convert a provisional visa
into permanent residence.
Key facts
Visa types
Business Innovation, Investor, Significant Investor, Premium Investor and Entrepreneur streams each tied to the matching subclass 188 stream you hold.
Closed to new applicants
None. Open to eligible subclass 188 (or qualifying 444/457) holders in the matching stream.
Nomination
Not required. Eligibility is based on the subclass 188 stream you hold and the time and activity requirements you've met, not a fresh nomination.
Worth knowing
Requirements vary by stream. For example: Entrepreneur stream applicants need at least 3 years held (4 years if invited before 1 July 2021) and 2 years lived in Australia; Premium Investor applicants need 12 months held with the full AUD15 million investment maintained throughout.
Check my eligibility
Subclass 858 — National Innovation visa
A permanent, invitation only visa for individuals with an internationally recognised record of exceptional and outstanding achievement.
Who this pathway is for
-
Individuals with an outstanding record in a profession, sport, the arts, or academia and research.
-
Applicants who can secure a nominator with a national reputation in their field.
-
High-achieving professionals who have received an invitation to apply, or who wish to submit an Expression of Interest.
Key facts
Visa types
National Innovation visa a single visa with no streams.
Closed to new applicants
Not applicable. Invitation only, open to applicants who submit a successful Expression of Interest.
Nomination
Required, from an Australian citizen, Australian permanent resident, eligible New Zealand citizen, or Australian organisation with a national reputation in your field.
Worth knowing
You must lodge your visa application within 60 days of receiving an invitation. The visa grants permanent residence, with travel rights to and from Australia for 5 years.
Check my eligibility
