This visa allows you to own and manage a business, conduct business and investment activity, or undertake an entrepreneurial activity in Australia.
At a Glance
- Stay: Up to 5 years (extension streams: up to 6, 7 or 8 years, or up to 9 years, from original grant)
- Visa cost: From AUD12,505.00 (Business Innovation and Investor); From AUD18,335.00 (Significant Investor); From AUD8,455.00 (Entrepreneur); From AUD1,505.00 (extension streams) (Concessions apply in limited circumstances. From 1 July 2026 a lower cost applies to eligible Pacific Island and Timor-Leste citizens.)
Who It Is For
- Original streams needed an EOI in SkillSelect, nomination by a state or territory agency or Austrade, and an invitation
- Business Innovation: operate a new or existing business
- Investor and Significant Investor: make a designated or complying significant investment (Significant Investor: at least AUD5 million)
- Business Innovation Extension: hold a 188 Business Innovation visa for at least 3 years, extends stay 2 years
- Significant Investor Extension: hold a 188 Significant Investor visa for at least 3 years, extends up to 4 years
What You Can Do With This Visa
- Own and manage a business in Australia
- Conduct business and investment activity
- Undertake entrepreneurial activity
Good to Know
- The Business Innovation and Investment Program closed on 31 July 2024; applications made before then are still processed
- Business Innovation, Investor, Significant Investor and Entrepreneur streams are closed to new applications
- Possible refund of the application charge if withdrawn on or after 31 July 2024
- Page says no processing times are available
- Extension streams are for existing 188 holders only
Getting Advice
Our registered migration agents can talk through your situation, explain whether this visa suits you and help you prepare. This page is general information only, summarised from the Department of Home Affairs and checked in November 2026. Fees and rules change, so always check the official page before you apply.
Official information: the Department of Home Affairs page for this visa.