Australia Business Innovation and Investment (Provisional) Visa (Subclass 188)
Australia AUS
The Subclass 188 Business Innovation and Investment (Provisional) Visa is a provisional five-year visa requiring a state or territory government nomination, designed for business owners, investors, and entrepreneurs who wish to establish or manage a business in Australia. There are multiple streams — Business Innovation, Investor, Significant Investor (AUD$5M), and Entrepreneur — each with distinct net asset and business turnover thresholds. After meeting stream-specific requirements, holders can apply for the permanent Subclass 888 Business Innovation and Investment visa.
Program Details
- Category
- Entrepreneur
- Processing Time
- 18 months
- Application Fee
- $4,000
- Minimum Income
- —
- Minimum Investment
- $150,000
- Family Included
- Spouse or de facto partner and dependent children included in the provisional visa; all must meet health and character requirements
- Path to PR
- Yes — 5 years
- Path to Citizenship
- Yes — 9 years
- Physical Presence
- Business Innovation stream requires genuine establishment of a business in Australia and physical presence during the provisional visa period
- Dual Citizenship
- Allowed
- Tax Impact
- Provisional visa holders residing in Australia are generally treated as Australian tax residents and taxed on worldwide income
Application Timeline
Apply
18mo processing
Visa Granted
Initial permit
Permanent Residency
After 5 years
Citizenship
After 9 years
Key Requirements
- ✓State or territory government nomination
- ✓Points test score of at least 65 under the business innovation points test
- ✓Net assets of at least AUD$800,000 (Business Innovation stream) or AUD$2,250,000 (Investor stream)
- ✓Minimum annual business turnover threshold (Business Innovation: AUD$750,000 over 2 of last 4 years)
- ✓Ownership interest in an established business
- ✓Under 55 years of age (unless nominating state/territory grants an age exemption)
Am I eligible for Australia Business Innovation and Investment (Provisional) Visa (Subclass 188)?
Quick self-check based on the published criteria. Not legal advice. No data leaves your browser.
Minimum investment / capital
Programme requires $150,000.
Fill in the fields above to see a verdict.
This is a heuristic, not a determination. Final eligibility depends on full documentation and immigration-officer discretion.
Application Process — Step by Step
- 01
Secure state or territory nomination
onlineAll 188 streams require state/territory sponsorship. States set their own criteria and quotas, often harder than federal. Most states suspended 188 nominations July 2024.
Typical duration: 12-24 weekssource ↗
- 02
Submit Expression of Interest (SkillSelect)
onlineEOI scored against points test. Invitation only — no open lodgement.
Typical duration: 0-52 weeks
- 03
Lodge visa application within 60 days of invitation
onlineFull application with business records, investment evidence, English test results, medicals.
Typical duration: 12-24 months processing
- 04
Arrive + operate business / investment during 4-year provisional
destinationMust meet stream-specific business / investment / trading conditions to transition to 888 permanent visa.
Typical duration: 3-4 years
Documents Required
| Document | Issued By | Apostille | Translate to | Validity (days) |
|---|---|---|---|---|
| Valid passport | Home country | No | — | 180 |
| State nomination approval | State government | No | — | 180 |
| Business / investment / financial assets evidence | Accountant / bank | Yes | en | 365 |
| English test (IELTS 4.5+ or equivalent) OR exemption | Test provider | No | — | 365 |
| Health exam + police checks (all countries lived 12+ months) | Panel physician / police | Yes | en | 180 |
Realistic Costs
Some figures below are industry estimates rather than officially verified: lawyer_fee_low, lawyer_fee_high, total_first_year_low, total_first_year_high.
Excludes the actual business investment (AUD 1.25M-2.5M depending on stream).
Realistic Timeline
- Consulate wait0–0 weeks
- Decision → arrival12 weeks
- Residence card issuance0 weeks
- Total to residence card60–130 weeks
Processing was historically 24-36 months; post-July 2024 closure, only legacy-pipeline cases being processed.
Renewal
- First renewal after
- 48 months
- Subsequent cycle
- 24 months
- Renewal fee
- $3,000
- Requirements
- 188 is provisional 4 years; meet 888 PR conditions OR apply for 2-year extension if business not yet established.
Path to Permanent Residency — Details
- Years required
- 4
- Language test
- Required
- Integration test
- Not required
Path to Citizenship — Details
- Years required
- 4
- Language test
- Yes (A2)
- Civic test
- Required
- Oath
- Required
- Dual citizenship
- Allowed
Tax Residency
- Trigger
- 183 days/year of presence
- Taxation scope
- Worldwide income
- Exit-tax country
- No
Health Insurance
- Mandatory
- No
Family Specifics
- Spouse work rights
- Child school enrolment
- Parent inclusion
- Not eligible
- Sibling inclusion
- Not eligible
Gotchas — Things to Watch For
- ⚠**PROGRAMME CLOSED TO NEW APPLICANTS from 1 July 2024.** Only previously-lodged cases in the pipeline are being processed. A successor visa was announced in the Dec 2024 migration strategy — verify current status.
- ⚠Provisional 4-year visa does NOT automatically convert to PR — the 888 requires active compliance with stream conditions
- ⚠State quotas dried up well before the federal closure — many would-be applicants received no nomination
Common Rejection Reasons
- •Unable to secure state nomination (quotas exhausted)
- •Business turnover or assets below threshold
- •Failure to genuinely manage business (Investor stream: active mgmt requirement)
Recent Legislative Changes
2024-07-01
Business Innovation and Investment Program closed to new applications. Existing in-pipeline cases continue to be processed. Successor visa pathway announced Dec 2024.source ↗
Frequently Asked Questions
Is there any way to still apply for the 188?+
No — the programme is closed to new applications as of 1 July 2024. The National Innovation visa announced in the December 2024 migration strategy is the intended successor, with different settings. Check immi.homeaffairs.gov.au for current status.
Good Fit For
Applying from a specific country? Your home-country tax rules, banking access, and dual-citizenship options affect every programme differently. Browse nationality guides → for tax obligations, renunciation rules, and second-passport routes.
Related Guides
Comparable Programs
EB-5 Immigrant Investor Visa
united states · investment
Compare Australia Business Innovation and Investment (Provisional) Visa (Subclass 188) vs EB-5 Immigrant Investor Visa →