Business Visas
Business Visas for Australia
The Business Innovation and Investment Program (BIIP) closed to new applications on 31 July 2024. Existing subclass 188 holders in the Business Innovation and Significant Investor streams retain pathways to permanent residence through the subclass 888 visa and, where needed, the subclass 188 extension stream.
Current status of the BIIP program
The Department of Home Affairs ceased accepting new applications for the Business Innovation and Investment (Provisional) visa (subclass 188) on 31 July 2024. No new nominations are being accepted by state and territory governments for the Business Innovation, Investor, or Entrepreneur streams.
Existing subclass 188 holders are not affected by the closure. Those in the Business Innovation stream and the Significant Investor stream retain access to the extension stream and to the permanent subclass 888 visa, provided they meet the applicable eligibility requirements.
The Australian Government has indicated that the BIIP will eventually be replaced by the National Innovation Visa (subclass 858). No replacement program for the general Business Innovation or Investor streams has been announced as at April 2026.
Who can still engage with the BIIP
Existing subclass 188 holders
If you currently hold a subclass 188 visa in any stream, you retain access to the extension stream and the permanent subclass 888 pathway. The closure does not affect your existing visa or your rights under it.
Applicants with lodged applications
Applications lodged before 31 July 2024 that remain undecided continue to be processed. The closure applies to new applications only.
Secondary applicants
Secondary visa holders who are members of the family unit of a primary subclass 188 holder may also be eligible to apply for the subclass 888 permanent visa, including in cases where the relationship has ended.
31 Jul 2024
Program closed to new applications
188
Provisional subclass
888
Permanent subclass
Extension
Available for eligible 188 holders
Available pathways
The following pathways remain open to eligible existing subclass 188 holders as at April 2026.
Business Visa Extension
A two-year extension of the subclass 188 Business Innovation visa for holders who need additional time to meet the requirements for the permanent subclass 888 visa.
Read more
Business PR (Subclass 888)
The permanent Business Innovation and Investment visa for existing 188 holders who have met the business performance and residency requirements.
Read more
Entrepreneur Visa
The subclass 188E and 888E Entrepreneur streams for existing holders undertaking an approved entrepreneurial activity in Australia.
Read more
Why instruct Visa Plan?
Program knowledge
The BIIP is one of the most technically complex visa programs in the Australian migration system. We advise on the exact requirements applicable to your stream and state nomination.
Legal Professional Privilege
Business migration requires disclosure of financial records, ownership structures, and business performance data. All disclosures to our admitted solicitors are protected by Legal Professional Privilege.
Permanent residence strategy
Meeting the subclass 888 requirements demands forward planning from the start of the 188 visa period. We advise on business structure, turnover thresholds, employment obligations, and residency requirements before problems arise.
Business visa information is sourced from the Department of Home Affairs and is current as at April 2026. The subclass 188 program closed to new applications on 31 July 2024. Eligibility criteria, state nomination requirements, and program settings are subject to change. This page provides general information only and does not constitute legal advice.