Australia Business Innovation and Investment (Provisional) Visa (Subclass 188) vs Portugal Golden Visa (ARI)
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
- ›Portugal Golden Visa (ARI) is faster: 6 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 500,000 for Portugal Golden Visa (ARI).
Australia Business Innovation and Investment (Provisional) Visa (Subclass 188) Australia · entrepreneur | Portugal Golden Visa (ARI) Portugal · investment | |
|---|---|---|
| Country | Australia | Portugal |
| Category | Entrepreneur | Investment |
| Application Fee | $4,000 | $5,400 |
| Minimum Income | — | — |
| Minimum Investment | $150,000 | $500,000 |
| Processing Time | 18 months | 6 months |
| Family Included | Spouse or de facto partner and dependent children included in the provisional visa; all must meet health and character requirements | No additional investment required for dependent family members |
| Path to PR | Yes — 4 years | Yes — 5 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 | Only 7 days per year in the first year, and 14 days per every subsequent 2-year period |
| Dual Citizenship | Allowed | Allowed |
| Tax Impact | Provisional visa holders residing in Australia are generally treated as Australian tax residents and taxed on worldwide income | Minimal physical presence means most holders do not trigger Portuguese tax residency; those who do may qualify for NHR status |
| Tax Residency Trigger | 183 days/yr | 183 days/yr |
| Worldwide Taxation | Yes | Yes |
| Renewal Cost | — | $2,700 |
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 Portugal Golden Visa (ARI)
Portugal's Golden Visa (Autorização de Residência para Investimento, or ARI) is an investment-based residency permit for non-EU/EEA nationals, notable for one of Europe's lowest physical-presence requirements: just 7 days in year one and 14 days per subsequent two-year period. Since an October 2023 reform, real estate no longer qualifies; current routes include €500,000+ in an approved investment fund, a €500,000+ capital transfer combined with job creation, or €250,000+ toward cultural heritage or the arts, maintained for the full 5-year period. No additional investment is required for family members. The Golden Visa leads to permanent residency and, since the 2026 Nationality Law, citizenship eligibility after 10 years of legal residence (applications pending before 19 May 2026 keep the former 5-year timeline), with an A2 Portuguese language test. Because minimal time in Portugal is needed, most holders never trigger Portuguese tax residency (183-day threshold), and the narrower IFICI regime that replaced NHR in 2024 generally doesn't apply to passive investors. The main practical obstacle is administrative: AIMA has faced severe backlogs since its 2023 reorganisation, and residence-card issuance can take a year or more beyond official timelines.
Full Portugal Golden Visa (ARI) 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
Portugal Golden Visa (ARI)
- ⚠Real estate investment no longer qualifies as of October 2023 reform
- ⚠AIMA backlog means residence card issuance currently takes 1-2+ years
- ⚠Investment must be maintained for minimum 5 years (citizenship eligibility window)
- ⚠IFICI tax regime generally does not apply to passive investors
- ⚠Source-of-funds AML documentation is strictest among EU Golden Visas
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.