Key Points
- Australia will close the Business Innovation and Investment subclass 188 visa on July 31, 2024
Update on Business Innovation and Investment Subclass 188 Visa Closure
The Australian government will close the Business Innovation and Investment (Provisional) (BIIP), subclass 188 visa , designed for business owners and investors. Applications for the Business Innovation, Investor, Significant Investor, and Entrepreneur streams must be submitted by July 31, 2024. After this date, these streams will be closed to new applications. Existing applications filed before July 31, 2024, will still be processed.
The following applications will continue to be accepted:
- Business Innovation Extension and Significant Investor Extension for current Subclass 188 visa holders
- Applications for satisfying secondary criteria for the Subclass 188 visa
- Applications for the permanent Subclass 888 visa are filed by Subclass 188 visa holders, including those granted before July 31, 2024
Looking Ahead
Continue to check Australia’s government website for the latest updates and information.
Written by: Jessie Butchley, Global Immigration Writer, Envoy Global
Source: Australian Government, Department of Home Affairs
