From provisional to permanent
Business Innovation & Investment
Permanent residence for business owners, investors and entrepreneurs who built their activity in Australia on a provisional subclass 188 visa. The program is closed to new entrants, but the pathway to permanence for existing holders remains open.
Policy update The Business Innovation and Investment Program closed to new subclass 188 applications on 31 July 2024. Applications made before then are still processed, and the subclass 888 remains open to existing 188 holders. For new entrants, the National Innovation visa (858) is the current innovation and investor pathway.
Closed to new entrantsEligibility
Five streams to permanence.
Thresholds for turnover, assets, investment and residence differ by stream and by when you were invited to apply for your 188. We confirm the settings that apply to you.
An active business in Australia
For 188 Business Innovation stream holders (and certain 444 and 457 holders) with ongoing involvement in an Australian business. Turnover, business assets and Australian employment are assessed against your invitation-date settings.
Stream detailsAn investment held to term
For 188 Investor stream holders who have held their designated or complying significant investment for the required period, with residence requirements tied to the invitation date.
Stream detailsA complying significant investment, maintained
For 188 Significant Investor (or Significant Investor Extension) holders who maintained their complying investment throughout. Reduced residence requirements apply to this stream.
Stream detailsA complying premium investment
For holders who kept their 188 Premium Investor visa for at least 12 months and held a complying premium investment of AUD 15 million for its duration.
Stream detailsA successful entrepreneurial record
For 188 Entrepreneur holders: at least three years on the visa (four if invited before 1 July 2021), at least two years living in Australia, and a demonstrated record of successful entrepreneurial activity here.
Stream detailsThe pathway
Four steps to a decision.
Stream check
Confirm your 888 stream and the settings that apply to your 188 invitation date.
Evidence
Business performance, investment holdings or entrepreneurial outcomes, documented against your stream's criteria.
Lodgement
A decision-ready application, lodged with every requirement addressed.
Decision
We respond to the Department through to its decision. Permanent residence if granted.
General information only, not immigration advice. Your circumstances matter. Visa requirements, fees and processing times change regularly. Facts on this page last reviewed 15 July 2026. Check current details with the Department of Home Affairs , or speak with us for advice on your situation. Website terms.
Begin with a conversation.
Speak with a MARA-registered migration agent in Melbourne about your pathway. Book a time that suits you.