Australia Business Innovation and Investment (Provisional) Visa (Subclass 188) vs New Zealand Investor 2 Visa
A factual side-by-side comparison of two residency programmes. All figures are drawn from the canonical program pages — follow either link in the table header for sources and the full profile.
Key Differences at a Glance
- ›New Zealand Investor 2 Visa is faster: 9 months vs 18 months for Australia Business Innovation and Investment (Provisional) Visa (Subclass 188).
- ›Faster to citizenship: New Zealand Investor 2 Visa at ~5 years, vs 9 for Australia Business Innovation and Investment (Provisional) Visa (Subclass 188).
- ›Lower capital: Australia Business Innovation and Investment (Provisional) Visa (Subclass 188) (150,000 USD) vs 1,800,000 for New Zealand Investor 2 Visa.
Australia Business Innovation and Investment (Provisional) Visa (Subclass 188) Australia · entrepreneur | New Zealand Investor 2 Visa New Zealand · investment | |
|---|---|---|
| Country | Australia | New Zealand |
| Category | Entrepreneur | Investment |
| Application Fee | $4,000 | $3,525 |
| Minimum Income | — | — |
| Minimum Investment | $150,000 | $1,800,000 |
| Processing Time | 18 months | 9 months |
| Family Included | Spouse or de facto partner and dependent children included in the provisional visa; all must meet health and character requirements | Partner and dependent children included in the residence visa application |
| Path to PR | Yes — 5 years | Yes — 0 years |
| Path to Citizenship | Yes — 9 years | Yes — 5 years |
| Physical Presence | Business Innovation stream requires genuine establishment of a business in Australia and physical presence during the provisional visa period | Must spend at least 438 days in New Zealand over the 4-year investment period to meet residence obligations |
| Dual Citizenship | Allowed | Allowed |
| Tax Impact | Provisional visa holders residing in Australia are generally treated as Australian tax residents and taxed on worldwide income | Resident visa holders are subject to New Zealand tax on worldwide income; a four-year transitional tax exemption on foreign-sourced income may be available for new residents |
| Tax Residency Trigger | 183 days/yr | 183 days/yr |
| Worldwide Taxation | Yes | Yes |
| Renewal Cost | — | — |
About Australia Business Innovation and Investment (Provisional) Visa (Subclass 188)
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.
Full Australia Business Innovation and Investment (Provisional) Visa (Subclass 188) profile →About New Zealand Investor 2 Visa
New Zealand's Investor 2 Visa grants residence to individuals who invest a minimum of NZD$3 million in acceptable New Zealand investments for a mandatory four-year investment period. Unlike the Investor 1 Visa (NZD$10M), the Investor 2 stream requires a minimum of 438 days of physical presence in New Zealand across the four years, ensuring genuine connection to the country. Upon completing the investment and presence requirements, investors and their families receive permanent residence and may apply for citizenship after five years.
Full New Zealand Investor 2 Visa profile →Gotchas to Watch For
Australia Business Innovation and Investment (Provisional) Visa (Subclass 188)
- ⚠**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
New Zealand Investor 2 Visa
- ⚠**Replaced the old Investor 2 category in September 2022**. Old Investor 2 (NZD 3M passive) is closed to new applicants.
- ⚠NZ taxes worldwide income once tax-resident after the 4-year transitional window — plan carefully
- ⚠Day counting is strict: 117 days (direct) vs 335 days (managed) over 3 years is not flexible
Neutral reference — we don't recommend one programme over another. Programmes change: always verify each detail against the official source linked on the individual program pages.