The 188 and 132 business visas 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.
Documentation Guide (for reference)
The guides and checklists below were used for 188 and 132 applications before the program closed on 31 July 2024. Some of the requirements, such as source of funds evidence, are still relevant to 888 applications.
Guidelines on documentation requirements for applicants from the People’s Republic of China.
Documentation Guide for Business Innovation and Investment Visa Applications from PRC residents (pdf, 1290kb)
Document Checklists
| For Subclass 188 – Significant Investor Visa Applications
Document Checklist for Subclass 188 SIV (pdf, 118kb) Source of funds for the Complying Significant Investment – Policy Clarifications 17 April 2019 (pdf, 127kb) |
|
| For Business Innovation and Investment Visa Applications from PRC residents
Document Checklist for Subclass 132 (pdf, 169kb) Document Checklist for Subclass 188 (pdf, 189kb) |
|
| For Business Innovation and Investment Visa Applications from Macau residents please ask VisaEnvoy for the standard checklist | |
| For Business Innovation and Investment Visa Applications from Hong Kong residents
Document Checklist for Subclass 132 (pdf, 155kb) Document Checklist for Subclass 188 (pdf, 183kb) |
|
| For Business Innovation and Investment Visa Applications from Taiwan residents
Document Checklist for Subclass 132 (pdf, 138kb) Document Checklist for Subclass 188 (pdf, 149kb) |
Please note that the Visa Officer may also ask for other documents on a case by case basis, depending on the circumstances of the case.
FACT GUIDES: Business and Skilled Migration Queensland (now Migration Queensland) published the guides below in several languages before the Business Innovation and Investment Program closed. They are listed for reference only and are no longer available online. Ask us if you need information in your language.
Chinese/ 中文
- BSMQ business investment brochure (Chinese)
- Why move to QLD (Chinese)
- Live Work Invest info sheet (Chinese)
Korean/ 한국
- Live Work Invest info sheet (Korean)
Japanese/ 日本
- Live Work Invest info sheet (Japanese)
Business proposal
- Business proposal – Business Innovation (subclass 188)
- Business proposal – Business Talent (subclass 132)
- Business proposal – Entrepreneur (subclass 188)
Other Resources
- BSMQ business investment brochure
- Skilled visa brochure
- Queensland – Work, Live, Play
