Australia Business Innovation and Investment (Provisional) Visa (Subclass 188)
Australia AUS
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.
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 — 4 years
- Path to Citizenship
- Yes — 5 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 4 years
Citizenship
After 5 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
- 5
- 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
Banking Setup
- Open account before arrival
- Not typically possible before arrival
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
What This Visa Does NOT Allow
- ×Does not automatically convert to permanent residency — holders must meet stream conditions and then apply for the permanent Subclass 888
- ×Reducing the qualifying business investment or net assets below stream requirements during the provisional period
- ×Closed to new applicants since 1 July 2024 — only previously lodged cases are processed
Before You Arrive — Checklist
- State nomination
- Liquid funds proof
- English test booking
- Panel-physician medicals
After You Arrive — Checklist
- Register business with ASIC
- TFN (Tax File Number)
- Medicare enrolment
- Establish business operations meeting stream conditions
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.
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Sources & last verified
- Official source
- Last verified
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