The 188 and 132 business visas are 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.
Processing times last published before the program closed (for reference)
The 188 and 132 visas closed to new applications on 31 July 2024, so the times below are historical. Applications lodged before the closure are still being processed, and 888 processing times vary widely depending on the stream and how complete the application is. Ask us for a current estimate for your case.
| 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
Processing times were significantly delayed during the COVID-19 border closures from 2020 to early 2022. Since then, business visa processing has been affected mainly by the closure of the program and by the number of places available each year. For current Department processing times for other visas, see our visa processing times page.
Circumstances that affect processing times
The Department assesses 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.
Book a meeting today for a commitment free briefing with our Registered Migration Agents in Melbourne to find more about your visa options.
