Business and Investor Visas

Australia’s migration settings have changed considerably since the business and investor visa programs were first introduced. The former subclass 188 pathway is not open to new applications. It is misleading to suggest that a new investor can simply submit an expression of interest for the former BIIP, pay an investment amount and obtain a new subclass 188 visa.

For existing applicants or visa holders, there may still be important decisions about pending applications, the permanent subclass 888 stage, business commitments, visa conditions or refund eligibility. Alternative programs have different tests and are not automatic replacements.

Home Affairs continues to process valid subclass 188 applications made before the program closed, subject to the applicable program and decision requirements. Current holders may need to consider their visa conditions, business or investment obligations, and whether they satisfy an eligible subclass 888 permanent visa pathway.

Only a case-specific eligibility assessment can establish what options remain available for an individual holder or applicant.

Subclass 888 is generally the permanent stage for qualifying existing subclass 188 visa holders and other persons meeting the applicable legal criteria. Previous investment, business ownership, residence, state or territory nomination and stream-specific conditions may be important. Prospective migrants who never held or applied for the relevant business visa should not treat subclass 888 as an open standalone investor application.

Home Affairs explains that certain subclass 188 applicants who withdraw their application on or after 31 July 2024 may qualify for a Visa Application Charge refund in specified streams. Refund eligibility depends on the particular visa stream and withdrawal circumstances; exclusions exist for certain extension streams.

Before withdrawing an existing application, consider its migration consequences and whether the refund provisions actually apply. Withdrawal is not always the best outcome.

The National Innovation visa (subclass 858) is an invitation-only permanent visa for applicants with internationally recognised exceptional achievements, including some innovative entrepreneurs and investors. It is not a general investor visa and does not replace the former BIIP’s financial contribution pathways. An eligible person must first be invited before applying.

Applicants should assess their demonstrable achievement and contribution against the current official NIV requirements, not simply their investment capacity.

Some business owners, executives and skilled professionals might have different pathways through employer sponsorship or the skilled migration program, depending on employment arrangements, nominated occupations, experience, skills and other criteria.

Explore A2MS Employer-Sponsored Visa Services, Corporate Immigration Assistance and Skilled Migration. None of these options should be treated as guaranteed alternatives to the closed BIIP.

A2MS can review a pre-closure subclass 188 application or grant, previous commitments, eligibility for the relevant next stage, the impact of withdrawal, and other visa pathways that genuinely fit the person’s circumstances.

Discuss your matter with a Registered Migration Agent: Book a consultation or call 08 7094 8094.

• Home Affairs – BIIP closure and refunds
• Home Affairs – subclass 188
• Home Affairs – National Innovation visa

General information reviewed 26 October 2026. Current legislation, eligibility and individual application history govern outcomes. This page is not personal migration advice.