Important Update: Program Closure
The Business Innovation and Investment Program closed permanently to new primary Subclass 188 applications on 31 July 2024. The closure does not mean every matter connected with the Subclass 188 visa has ended. Applications lodged before closure can continue to be processed, and eligible existing visa holders may still have pathways to permanent residence through the Subclass 888 visa. Certain extension pathways also remain relevant to eligible existing holders.
Existing visa holders should review the requirements of their particular stream well before the intended permanent visa application. Do not assume that the closure of new 188 applications has closed your permanent pathway. Your position depends on your stream, grant history and compliance with the requirements that apply to you.
Key areas to review include:
There is no direct replacement that reproduces the former 188 program. Depending on a person’s profile, possible pathways may include:
Note: Buying a business or holding investment funds does not by itself create visa eligibility.
Some applicants affected by the closure of the Business Innovation and Investment Program may be eligible for visa application charge refund arrangements if they meet the current Department requirements. Eligibility depends on the visa stream, application status and withdrawal circumstances.
Applicants should confirm the current refund rules before withdrawing an application. Withdrawal can have legal and practical consequences and should not be treated as an administrative step without considering the wider immigration strategy.
Registered Migration Agent & Managing Director
Her work focuses on practical, strategic migration advice across skilled, employer sponsored, partner, student and complex migration matters. Our role is to help clients understand their options, identify risks early, prepare strong evidence and move through the process with greater clarity.
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Last reviewed: September 2026 | Reviewed by: Soodeh Jafari, Registered Migration Agent
Disclaimer: The information on this page is general information only and does not constitute immigration or legal advice. Australian migration law and policy can change. Your eligibility depends on your individual circumstances.
