The 188D Premium Investor stream is closed to new applications. The Australian Government closed the Business Innovation and Investment Program (subclass 188 and 132 visas) to new applications on 31 July 2024. Applications lodged before that date continue to be processed, and eligible applicants who withdraw may be entitled to a refund. Current 188 holders can still apply for the 888 permanent visa. The information on this page is kept for reference.
Looking for a business or investor visa now? For most people who would have applied for a 188 visa, the best option is the New Zealand Business Investor Work Visa, which requires an investment of at least NZD 1 million in an established New Zealand business and offers a pathway to New Zealand residence in as little as 12 months. See other options below.
Business and investor visa options in 2026
- New Zealand Business Investor Work Visa: invest at least NZD 1 million in an established New Zealand business that you actively manage. You need at least NZD 500,000 for living costs, must be 55 or under, and can include your family. Residence is possible after 3 years, or after 12 months if you invest NZD 2 million or more. If you later become a New Zealand citizen, you can also live and work in Australia.
- Active Investor Plus (New Zealand): for investors with NZD 5 million or more.
- National Innovation Visa (subclass 858): an invitation-only Australian permanent visa for people with an internationally recognised record of exceptional achievement, including entrepreneurs and investors. The application fee is AUD6,235 from 1 July 2026.
- Your own business sponsors you: an Australian business you own can sponsor you on a Skills in Demand (subclass 482) visa, with a later pathway to the 186 permanent visa. The Department looks closely at whether the position is genuine.
- Regional skilled visas: the 491 and 494 visas, which lead to the 191 permanent visa. Some states have small business owner pathways under the 491.
Read more in visa options for business owners now that the 188 visa is closed, or book a consultation with our business migration team.
188D Premium Investor (PIV) Stream
- Visa options for business owners now that 188 visa is closed
- Upcoming Australia Immigration Changes- Business and Investment Visas
- State requirements for Business visas
- COVID-19 concessions for Business visas (SC188 and SC888), historical
| This visa is only available to applicants who are nominated by an AusTrade.
This is a 4-year temporary visa, for people who want to invest at least AUD 15 million into complying investments in Australia. After maintained an investment in Australian for 1 year, the applicant can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa. The applicants can either be in Australia or overseas to lodge this visa. If the applicant is in Australia: Must hold a Substantive Visa or a Bridging A, B or C visa. |
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| General Requirements: | Applicants must make an investment of at least AUD 15 million in a “premium investment” prior to grant of the visa. A “premium investment” for the purposes of the Premium Investor Visa includes:
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| Advantages: | · No residence requirement
· Fast-track 12 months pathway to permanent residency |
Other 188 Visa eligibility streams:
Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.
