The Australian Government’s decision to close the Business Innovation and Investment Program (BIIP) on 31 July 2024 has disrupted the migration plans of many business owners and entrepreneurs. This change has compelled prospective migrants to explore alternative pathways, such as self-sponsorship under the Subclass 482 (Skills in Demand) visa and small business owner Subclass 491 visas, another potential option could be the New Zealand Business Investor Work Visa.
These alternatives demand investment, legal compliance, and a clear understanding of visa criteria. Engaging a professional migration agent or legal advisor is strongly recommended to increase your chances of success. Book a consultation to evaluate your visa options and pathways here.
| Visa Type | Stream (if available) | 75% of applications processed in | 90% of applications processed in |
| Visitor visas | |||
| 600 Visitor | Business Visitor | 26 days | 4 months |
| 132 Business Talent | Significant Business History | 26 months | 35 months |
| 132 Business Talent | Venture Capital Entrepreneur | 36 months | 40 months |
| 188 Business Innovation and Investment (Provisional) | Significant Investor | 18 months | 26 months |
| 188 Business Innovation and Investment (Provisional) | Investor | 36 months | 38 months |
| 188 Business Innovation and Investment (Provisional) | Business Innovation | 29 months | 35 months |
| 188 Business Innovation and Investment (Provisional) | Premium Investor | Processing times are not available. | Processing time are not available. |
| 188 Business Innovation and Investment (Provisional) | Entrepreneur | 5 months | 8 months |
| 888 Business Innovation and Investment (Permanent) | Business Innovation | 24 months | 27 months |
| 888 Business Innovation and Investment (Permanent) | Investor | 23 months | 24 months |
| 888 Business Innovation and Investment (Permanent) | Premium Investor | Processing times are not available. | Processing times are not available. |
| 888 Business Innovation and Investment (Permanent) | Significant Investor | 26 months | 27 months |
| 888 Business Innovation and Investment (Permanent) | Entrepreneur | 41 days | 41 days |
| 890 Business Owner | Processing times are not available. | Processing times are not available. | |
| 891 Investor | Processing times are not available. | Processing times are not available. | |
| 892 State/Territory Sponsored Business Owner | Processing times are not available. | Processing times are not available. | |
| 893 State/Territory Sponsored Business Investor | Processing times are not available. | Processing times are not available. | |
Important
Visa processing times were significantly delayed due to the impacts of COVID-19 and international border restrictions and closures. As a result of Australia’s border reopening to all fully vaccinated travellers from 21 February 2022, the visa processing times are now slowly reducing as processing has resumed.
Circumstances that affect processing times
We assess applications on a case-by-case basis, and actual processing times can vary due to individual circumstances including:
- whether you have lodged a complete application, including all necessary supporting documents
- how promptly you respond to any requests for additional information
- how long it takes to perform required checks on the supporting information provided
- how long it takes to receive additional information from external agencies, particularly in relation to health, character, and national security requirements
- for permanent migration visa applications, how many places are available in the migration programme
- for citizenship applications, the time taken to attend a Citizenship Ceremony or receive a Citizenship Certificate.
Contact us today for a commitment free briefing with our Registered Migration Agents in Melbourne to find more about your visa options.
