Australia Investor Program Closed

No new Business Innovation and Investment Program (BIIP) applications have been accepted since 31 July 2024

Closed

The Program Has Closed

Australia's Business Innovation and Investment Program (BIIP) — an investor and entrepreneur residence pathway — closed permanently to new applications on 31 July 2024. The Department of Home Affairs administers the wind-down of the Program; the subclass 188 (provisional) streams are closed to new applications, apart from the Business Innovation Extension and Significant Investor Extension streams for existing subclass 188 holders.

New subclass 188 applications are no longer accepted in the Business Innovation, Investor, Significant Investor, Premium Investor and Entrepreneur streams.
The closure does not apply to applications made before 31 July 2024; the Department of Home Affairs continues to process them.
The Department of Home Affairs administers the closure, including Visa Application Charge refunds for eligible subclass 188 applications withdrawn on or after 31 July 2024.

If You Already Hold a Subclass 188 Visa

The Department of Home Affairs' published guidance sets out the pathway available to existing subclass 188 (provisional) holders:

If you hold a subclass 188 (provisional) visa, you can continue your entrepreneurial, investor or business ownership activity in Australia and, when you meet the requirements of your stream, apply for the Business Innovation and Investment (Permanent) (subclass 888) visa to live in Australia permanently. Holders of a subclass 188 visa in the Business Innovation or Significant Investor stream can still apply for the matching Extension stream, subject to its conditions (including nomination), for more time to meet the subclass 888 requirements.
Each subclass 888 stream (Business Innovation, Investor, Significant Investor, Premium Investor, Entrepreneur) requires holding the matching subclass 188 stream (or, for Business Innovation, a subclass 444 or certain subclass 457 visa) and meeting that stream's business, investment or entrepreneurial activity requirements.
Applications made before 31 July 2024 continue to be processed under the Program; applicants who withdraw a subclass 188 application on or after 31 July 2024 may be able to get a refund of the Visa Application Charge in the Business Innovation, Investor, Significant Investor and Entrepreneur streams, but not in the Business Innovation Extension or Significant Investor Extension streams.

These pathways are set and updated by the Department of Home Affairs. If you hold a subclass 188 visa or have an application on hand, check your specific situation with the Department or your registered migration agent directly rather than relying on this summary.

What Remains Open in Australia

National Innovation Visa (Subclass 858)

A permanent, talent-based visa for people with an internationally recognised record of exceptional and outstanding achievement in a profession, sport, the arts, or academia and research (Department of Home Affairs, checked 25 September 2026). The visa application charge starts from AUD 6,235 (concessions apply in limited circumstances). Applicants must be invited to apply and have a nominator of national reputation; it is not an investment route.

Other Australian Immigration Pathways

Australia continues to operate a range of skilled and business immigration visas outside the BIIP. Which pathway fits depends on your circumstances; Trem Global can advise on the options administered by the Department of Home Affairs.

Conditions for the National Innovation visa are set by the Department of Home Affairs and reviewed periodically; we confirm the current requirements before any application.

Official source: Department of Home Affairs — BIIP closure and refunds

This page reflects the Department of Home Affairs' published guidance on the closure of the Business Innovation and Investment Program (BIIP closure and refunds page, updated 5 August 2026), the Business Innovation and Investment (Provisional) visa, subclass 188 (updated 24 September 2026), the Business Innovation and Investment (Permanent) visa, subclass 888 (updated 4 September 2026), and the National Innovation visa, subclass 858 (updated 4 September 2026), checked 25 September 2026. Australian immigration rules are set by the Department of Home Affairs and can change.

Почему Trem Global

Предлагая новые возможности для тысяч инвесторов с 30-летним опытом в сфере недвижимости, Trem Global обеспечивает уникальный опыт с профессиональными инвестиционными советниками, поддержкой инвесторов на нескольких языках, юридическими консультантами и более 4500 вариантами недвижимости по всему миру. Свяжитесь сейчас для быстрого, безопасного и комфортного старта.

Frequently Asked Questions

No. The Business Innovation and Investment Program (BIIP) closed permanently to new applications on 31 July 2024; only existing subclass 188 holders can still apply for an Extension stream or, when eligible, the subclass 888 visa.

No. The closure does not apply to visas already granted. You can continue your entrepreneurial, investor or business ownership activity and, once you meet your stream's requirements, apply for the subclass 888 visa to live in Australia permanently.

It continues to be processed. The Department of Home Affairs assesses applications made before 31 July 2024 in line with the permanent Migration Program planning levels and skilled visa processing priorities.

No. The BIIP is closed to new applications, and Trem Global is not aware of another Australian route that grants residence in exchange for an investment.

The National Innovation visa (subclass 858) remains open for people with an internationally recognised record of exceptional and outstanding achievement who are invited to apply and have a nominator of national reputation (checked 25 September 2026). It is talent-based, not an investment route.

The Department of Home Affairs, which continues to administer the Program. Withdrawals and Visa Application Charge refund requests are made through ImmiAccount.