Business & Investment Visas (188, 888, 132)
If you are researching an Australian business or investment visa, start here: the Business Innovation and Investment Program was permanently closed to new applications on 31 July 2024. The 188 and 132 can no longer be applied for, the 888 is open only to people who already hold a 188, and the replacement — the National Innovation visa — asks for something quite different.
Quick Answer:
- 188 visa: CLOSED to new applications since 31 July 2024. Existing holders are unaffected.
- 888 visa: Open only to existing 188 holders meeting their stream requirements. Not a route you can start now.
- 858 visa: The National Innovation visa replaced these. It wants an internationally recognised record of exceptional achievement — a much higher bar than capital.
- Key point: Thresholds change often — verify current settings before applying.
3
Visa Subclasses
12-24mo
188 Processing
Required
Nomination
188→888
PR Pathway
We are not registered migration agents. This information is for general guidance only. For personalized immigration advice, consult a MARA-registered migration agent.
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Each subclass suits different circumstances. Compare requirements, costs and outcomes below.
Subclass 188 — Business Innovation and Investment (Provisional)
A provisional visa for business owners, investors and entrepreneurs, with several streams covering business ownership, designated investments and venture capital.
Quick Answer for Subclass 188:
CLOSED to new applications since 31 July 2024, when the Business Innovation and Investment Program was permanently closed following reviews by the Department of Home Affairs and the Productivity Commission that found it was not delivering the intended economic outcomes. Existing holders keep their visa and their pathway to the 888.
Key Benefits
- Establish, manage or invest in a business in Australia
- Multiple streams: Business Innovation, Investor, and others
- Bring family members who can work and study
- Pathway to permanent residency via the 888 visa
- Build a track record in Australia before applying for PR
Requirements
- State or territory nomination
- A submitted Expression of Interest in SkillSelect
- Meet the business turnover, asset, or investment thresholds for your stream
- A successful business or investment background
- Meet points, age, health and character requirements for the relevant stream
- Established business owners
- Investors meeting the financial thresholds
- Entrepreneurs wanting to expand into Australia
- Those without significant business or investment capital
- Applicants seeking immediate PR
- Those unable to secure state nomination
Residency
Closed to new applications
Processing Time
Not applicable — closed
Base Application Fee
Not applicable — closed
Visa application charges shown are the base charge for the main applicant, checked against the Department of Home Affairs on 2026-07-31. They are indexed every 1 July and additional charges apply for family members, so confirm the current charge with Home Affairs before budgeting.
Business and Investment Migration to Australia
Australia's business and investment visa program is designed to attract experienced business owners, investors and entrepreneurs who can contribute to the economy. Unlike skilled migration, which focuses on your occupation and qualifications, this program assesses your business track record, your assets, and your willingness to invest in or operate a business in Australia.
The main pathway is the two-stage Business Innovation and Investment program: the provisional 188 visa followed by the permanent 888 visa. Applicants begin by submitting an Expression of Interest and obtaining nomination from a state or territory, which often has its own priorities and thresholds depending on the industries and investments it wishes to encourage.
The 188 visa has several streams. The Business Innovation stream suits owners who want to establish or manage a business in Australia, while the Investor and related streams are aimed at those making designated investments. Each stream has its own financial thresholds, points requirements, and conditions that must be satisfied before progressing to the permanent 888 visa.
Choosing the Right Business Pathway
Because business migration thresholds and program settings change regularly — and the 132 Business Talent visa has been closed to new applications — it is especially important to verify the current requirements before committing to a pathway. State and territory nomination criteria also vary and are updated frequently.
For most prospective applicants today, the provisional 188 visa is the realistic starting point, with the permanent 888 visa as the destination once business or investment commitments have been met. Given the financial scale and complexity involved, business migration is an area where tailored advice from a registered migration agent is particularly valuable.
Frequently Asked Questions
What is the difference between the 188 and 888 visas?
The 188 is a provisional visa that lets you establish a business or make a designated investment in Australia. The 888 is the permanent stage, granted to 188 holders who have met the specific business or investment requirements of their stream and maintained their state or territory nomination.
Do I need state nomination for a business visa?
Yes. Business and investment visas require nomination from an Australian state or territory government. Each jurisdiction sets its own priorities and thresholds, so the requirements can differ depending on where you intend to base your business or investment.
Is the 132 Business Talent visa still available?
The 132 Business Talent visa has been closed to new applications in recent program changes. Prospective applicants are generally directed to the Business Innovation and Investment program (the 188 provisional and 888 permanent visas) instead. Always verify the current program settings before applying.
How much do I need to invest for a business visa?
Investment and business thresholds vary by stream and are updated periodically, and individual states may set higher requirements. Because the figures change, you should confirm the current thresholds for your chosen stream and nominating state before lodging an Expression of Interest.
How long does the business visa pathway take?
The provisional 188 visa typically takes 12 to 24 months to process, after which you operate your business or hold your investment for the qualifying period before applying for the permanent 888 visa. The full pathway to permanent residency therefore spans several years.
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Check your eligibility, compare visa pathways, and plan your move to Australia with confidence.