Business Innovation and Investment (Provisional) Visa (Class EB, Subclass 188)
The Business Innovation and Investment (Provisional) 188 visa allowed investors and business owners to establish or manage a business in Australia, or to make a designated investment in the country. It is a temporary visa, generally valid for up to 5 years, with a pathway to permanent residency through the Subclass 888 visa.
The Business Innovation and Investment Program (BIIP), including the Subclass 188 visa, closed to new applications on 31 July 2024. If you already hold a Subclass 188 visa, we continue to assist you with meeting your visa conditions and transitioning to permanent residency.
There were 4 streams under the Subclass 188 visa:
- Business Innovation stream: For holders with business experience who established or managed a business in Australia.
- Investor stream: For holders who made a designated investment of at least AUD 1.5 million.
- Significant Investor stream: For holders who invested at least AUD 5 million, with reduced requirements due to the larger investment sum.
- Entrepreneur stream: For holders sponsored or endorsed by a State or Territory government to undertake a complying entrepreneur activity in Australia.
Business Innovation Stream (Subclass 188 A)
If you hold this visa, you were assessed against requirements including:
- Under 55 at time of invitation
- Nominated by a State or Territory government
- At least 65 points on the points test
- A main business with at least AUD 750,000 turnover for 2 out of the last 4 fiscal years
- Combined personal and business assets of at least AUD 1,250,000
Investor Stream (Subclass 188 B)
If you hold this visa, you were assessed against requirements including:
- Under 55 at time of invitation
- Nominated by a State or Territory government
- At least 65 points on the points test
- A complying significant investment of AUD 2.5 million
- Combined personal and business assets of at least AUD 2,500,000
- At least 3 years’ experience managing a qualifying business or eligible investment
Significant Investor Stream (Subclass 188 C)
If you hold this visa, you were assessed against requirements including:
- Nominated by a State or Territory government
- A complying significant investment of AUD 5 million
- Lawful acquisition and ownership of at least AUD 5 million
- No history of involvement in unacceptable activities
Entrepreneur Stream
If you hold this visa, you were assessed against requirements including:
- Under 55 at time of invitation
- Competent English
- Endorsed by a State or Territory government
- Undertaking or proposing to undertake a complying entrepreneur activity in Australia
- No history of involvement in unacceptable activities
Complying entrepreneur activity is defined as an idea that leads to the commercialisation of a product or service, or development of an enterprise or business, in Australia. This activity must not relate to residential real estate, labour hire, or the purchase of an existing enterprise or franchise.
Once you meet the relevant business or investment requirements under your stream, you may be eligible to transition to the permanent Subclass 888 visa.
Comparison Chart of Subclass 188 visas:
| Business Innovation Stream | Investor Stream | Significant Investor Stream | Entrepreneur Stream | |
| Age | Under 55 (unless special exemption received) | Under 55 (unless special exemption received) | No Age Requirement | Under 55 (unless special exemption received) |
| English | No English Requirement | No English Requirement | No English Requirement | Competent English Requirement |
| Points Test | 65 | 65 | No points test required | No points test required |
| Other Requirements | Business Turnover above AUD 750,000 for 2 full years in the last 4 Net worth of applicant and spouse above AUD 1,250,000 Have a successful business background | Make a $2.5m AUD complying investment 3 years of management or investment experience Net worth of applicant and spouse above AUD 2.5m | Make a $5m AUD complying investment Lawful acquisition of assets/funds of $5m AUD at disposal | Undertaking or proposing to undertake Complying Entrepreneur Activity in Australia Endorsed by State or Territory Government |
Common Issues for Existing 188 Visa Holders
- Demonstrating you have met your stream’s business or investment conditions with sufficient, clear evidence
- Understanding your options if your circumstances have changed since your visa was granted
- Preparing a strong Subclass 888 application within your visa’s validity period
Suggested Solutions
Meeting your conditions and successfully transitioning to the Subclass 888 visa depends on clear, well-organised evidence specific to your stream. We can review your circumstances and help prepare a strong case for permanent residence.
188 Visa FAQs
No. The Business Innovation and Investment Program, including the Subclass 188 visa, closed to new applications on 31 July 2024. We assist clients who already hold a Subclass 188 visa.
This depends on your stream and the nature of your business or investment. Relevant evidence may include:
- Property investments: documentation showing acquisition strategy, appreciation in value, and management approach.
- Equity or managed fund investments: detailed records of investment decisions, performance over time, and risk management.
- Business ownership: financial statements, share registers and business tax records demonstrating your leadership role and profitability.
We can review your circumstances and advise on your options, which may include seeking further advice on your visa status or considering a withdrawal and refund where eligible.
Why Choose Brightstone Migration?
Our strengths include:
- Interdisciplinary Expertise – Our Commercial Law, Corporate Advisory, Real Estate, and Tax teams work closely with Brightstone Migration to understand your full investment landscape.
- Proven Experience – We have successfully advised clients with complex investment structures, cross-jurisdictional businesses and multi-layered financial histories.
- Strategic Approach – We design visa strategies that complement your business goals while meeting strict Departmental criteria.