Australia Business Innovation and Investment (Provisional) Visa (Subclass 188)

Application Process — Step by Step

1. 01

   Secure state or territory nomination

   online

   All 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 ↗

2. 02

   Submit Expression of Interest (SkillSelect)

   online

   EOI scored against points test. Invitation only — no open lodgement.

   Typical duration: 0-52 weeks

3. 03

   Lodge visa application within 60 days of invitation

   online

   Full application with business records, investment evidence, English test results, medicals.

   Typical duration: 12-24 months processing

4. 04

   Arrive + operate business / investment during 4-year provisional

   destination

   Must meet stream-specific business / investment / trading conditions to transition to 888 permanent visa.

   Typical duration: 3-4 years

Documents Required

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.

AUD 12,505 base application charge for the main applicant in the Business Innovation and Investor streams (additional applicant 18+: AUD 6,250; under 18: AUD 3,125) per the Home Affairs price list on 2026-10-03 (https://immi.homeaffairs.gov.au/visas/getting-a-visa/fees-and-charges/current-visa-pricing); matches the Migration Regulations 1994, Schedule 1, item 1202B, compilation of 1 July 2026. The price list shows other base charges for other streams: Premium Investor AUD 9,455, Significant Investor AUD 18,335, Entrepreneur AUD 8,455, and AUD 1,505 for the Business Innovation Extension and Significant Investor Extension streams. A second instalment applies to an applicant aged 18 or over assessed as not having functional English: AUD 9,795 for the main applicant and AUD 4,890 for a secondary applicant. The USD figure on this page, 8,700, is the AUD 12,505 base charge converted at 0.695058 USD per AUD (open.er-api.com, 3 October 2026) and rounded to the nearest USD 50; use the AUD figure for planning. The other cost figures on this page are estimates, not Home Affairs charges; the low end of the first-year total (USD 30,700) is the sum of the estimate rows plus the USD 8,700 charge. Closed to new applications from 31 July 2024; the AUD 12,505 charge is relevant only to applications lodged before then. Business Innovation extension applications carry a separate AUD 1,505 charge. 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

$3,000USDEURGBPCADAUDINRAEDTHBSGDBRLMXNZAR

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 31 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 31 July 2024 — only previously lodged cases are processed

Before You Arrive — Checklist

1. State nomination
2. Liquid funds proof
3. English test booking
4. Panel-physician medicals

After You Arrive — Checklist

1. Register business with ASIC
2. TFN (Tax File Number)
3. Medicare enrolment
4. 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

• 2024-07-31

  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