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).
- ›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 — 4 years | Yes — 0 years |
| Path to Citizenship | Yes — 5 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 five-year provisional visa for business owners, investors and entrepreneurs, requiring a state or territory nomination. It has several streams — Business Innovation, Investor, Significant Investor (AUD$5M) and Entrepreneur — each with distinct thresholds: for example, net assets of at least AUD$800,000 (Business Innovation) or AUD$2,250,000 (Investor), a points score of 65+, and business turnover of AUD$750,000 over two of the last four years; applicants are generally under 55. Costs are high — about AUD$6,000 in government fees and AUD$28,000–$50,000 realistically, excluding the AUD$1.25M–$2.5M business investment itself. A spouse/partner and children are included. The provisional visa does not auto-convert to permanent residency; holders must actively meet stream conditions, then apply for the permanent Subclass 888, after which citizenship becomes available. Provisional holders resident in Australia are taxed on worldwide income. The programme has been CLOSED to new applicants since 1 July 2024 — only previously lodged cases are being processed.
Full Australia Business Innovation and Investment (Provisional) Visa (Subclass 188) profile →About New Zealand Investor 2 Visa
New Zealand's Investor 2 Visa is a high-net-worth residence route requiring a minimum NZD 3,000,000 (~USD 1.8M) in acceptable New Zealand investments, excluding residential property, held for a mandatory four-year period. Applicants must be aged 65 or under, show at least three years of senior business experience, meet a basic English standard (IELTS 3.0 or a settlement course), and spend at least 438 days in New Zealand across the four years; day-counting is strict and inflexible. Partner and dependent children are included. Beyond the investment, budget roughly USD 65,000-110,000 in the first year; decisions target about 9 months but complex source-of-funds reviews can run 12-18 months. Completing the investment and presence obligations delivers permanent residence, with citizenship available after 5 years (basic language, oath), and dual nationality permitted. Holders are taxed on worldwide income once tax-resident (183-day rule), though a four-year transitional exemption covers most foreign-source income for those not NZ-resident in the prior decade. This stream replaced the former Investor 2 category in September 2022.
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.