Overview
The Business Innovation and Investment Program (BIIP) — the pathway for new Subclass 188 applications — closed on 31 July 2024. New 188 applications are no longer accepted. Applications lodged before that date continue to be processed, and applicants who withdrew on or after 31 July 2024 may be entitled to a refund of their visa application charge. For new applicants with exceptional talent or innovation, the current pathway is the National Innovation visa (subclass 858).
The Business Innovation and Investment Program closed to new applications on 31 July 2024. Subclass 188 applications lodged before that date continue to be processed and, for those who chose to withdraw on or after that date, the Department has set up a refund pathway.
If your application is still in the queue, the priority is keeping it moving: respond to the Department’s requests on time and prepare for the Subclass 888 once you meet your stream’s requirements. If you are considering whether to withdraw and claim a refund, we can help you weigh that decision against your circumstances.
For new applicants with exceptional achievement in their field, the current pathway is the National Innovation visa (subclass 858).
Who is eligible
- Your 188 application was lodged before 31 July 2024 (the program is closed to new applications)
- You continue to meet the business, investment or financial requirements of your stream
- You continue to be nominated by a state or territory (as applicable)
- You meet health, character and other ongoing requirements
Costs
Fees change with annual indexation. See the official Visa Pricing Estimator for the current figure.
Processing times
See the official global visa processing times .
How to apply
- Check the status of your application. If you lodged before 31 July 2024 your application continues to be processed. Confirm the current status with the Department of Home Affairs or your migration agent.
- Decide whether to continue or withdraw. Applicants who withdrew on or after 31 July 2024 may be entitled to a refund of the visa application charge. We can help you weigh the options for your circumstances.
- Respond to requests promptly. Provide any further information the Department requests within the timeframes given to keep your application on track.
- Plan your transition to the permanent 888. Once you meet your stream's business or investment requirements, you can apply for the Subclass 888 to convert your provisional visa into permanent residence.
Frequently asked questions
Is the Subclass 188 visa still open to new applicants?
No. The Business Innovation and Investment Program closed on 31 July 2024 and new 188 applications are no longer accepted.
What happens to applications lodged before 31 July 2024?
Applications lodged before that date continue to be processed by the Department of Home Affairs under the previous rules.
Am I entitled to a refund if I withdraw my application?
Applicants who withdrew their Business Innovation, Investor, Significant Investor or Entrepreneur stream application on or after 31 July 2024 may be entitled to a refund of their visa application charge. The refund process is administered by the Department of Home Affairs.
What is the pathway today for talent and innovation applicants?
The current permanent pathway for individuals with internationally recognised exceptional achievement is the National Innovation visa (subclass 858).
Do I still have a pathway to permanent residence?
Yes. If your 188 application is granted and you meet your stream's requirements, you can apply for the permanent Subclass 888 visa.