Closed to new applications since July 2024. Replaced by National Innovation Visa (Subclass 858).
High-net-worth individuals seeking residence through capital investment
Applicants without the required minimum investment capital
CLOSED to new applications from 31 July 2024. Replaced by National Innovation Visa (858).
At a Glance
Eligibility Requirements
| Requirement | Details |
|---|---|
| Age Range | 18+ |
| Job Offer Required | No |
| Sponsorship Required | No |
| License / Recognition Required | No |
| Remote Income Allowed | No |
| Business Activity Required | No |
| Health Insurance Required | Yes |
| Proof of Funds Required | Yes |
| Can Apply From Abroad | Yes |
Financial Requirements
| Item | Amount |
|---|---|
| Minimum Savings | €496,000 |
| Application Fee | €3,044 |
Family & Rights
| Right | Details |
|---|---|
| Family Allowed | Yes |
| Spouse Can Work | Yes |
| Children Allowed | Yes |
| Work Rights | limited |
| Remote Work Rights | No |
| Renewable | Yes |
| Time to Permanent Residency | 4 years |
| Time to Citizenship | 4 years |
Related Pathways
Cost of Living
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Frequently Asked Questions
What is the Business Innovation & Investor (188) — CLOSED?
Closed to new applications since July 2024. Replaced by National Innovation Visa (Subclass 858).
Who is the Business Innovation & Investor (188) — CLOSED best for?
This pathway is best suited for: High-net-worth individuals seeking residence through capital investment.
Who should not apply for the Business Innovation & Investor (188) — CLOSED?
This pathway is not ideal for: Applicants without the required minimum investment capital.
What are the financial requirements for the Business Innovation & Investor (188) — CLOSED?
Applicants need minimum savings of €496,000. Additional costs may include the application fee and relocation expenses.
How long does it take to process the Business Innovation & Investor (188) — CLOSED?
Processing typically takes 200 to 350 days. Times may vary based on nationality, completeness of documentation, and current processing volumes.
Can I bring my family on the Business Innovation & Investor (188) — CLOSED?
Yes, this pathway allows family members including dependents. Your spouse may also be eligible to work.
Can the Business Innovation & Investor (188) — CLOSED lead to permanent residency or citizenship?
Yes. Holders of this visa can work toward permanent residency in approximately 4 years and citizenship in approximately 4 years, subject to meeting residence and other conditions.
What are the known issues with the Business Innovation & Investor (188) — CLOSED?
Known issues and warnings: CLOSED to new applications from 31 July 2024. Replaced by National Innovation Visa (858).. We recommend checking the official source for the latest updates.
Are there alternative pathways to Australia?
Yes. Australia offers 17 other immigration pathways. Compare all options on our Australia country page.
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Get Your Free VerdictOfficial source: https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-innov