Investment (golden visa)โ citizenship
Business Innovation and Investment Program (subclass 188, all streams) โ CLOSED
The umbrella business/investor migration program (Business Innovation, Investor, Significant Investor and Entrepreneur streams) closed permanently to new applications on 31 July 2024 per the Migration Strategy. No replacement investor-specific visa was created; the Government redirected places to skilled and talent routes (National Innovation visa). Business Innovation Extension and Significant Investor Extension applications by existing subclass 188 holders remain open, as do subclass 888 permanent-stage applications.
Sources: BIIP closure and refunds โ Department of Home Affairs
Investment (golden visa)โ citizenship
Significant Investor stream, Business Innovation and Investment (Provisional) visa (subclass 188) โ CLOSED
Australia's 'golden visa': AUD 5 million in complying significant investments (venture capital, emerging companies, balancing investments) for a provisional visa with a pathway to permanent residence via subclass 888. Permanently closed to new applications on 31 July 2024, implementing the December 2023 Migration Strategy which found investor visas delivered poor economic value. Pipeline applications lodged before 31 July 2024 continue to be processed; Significant Investor Extension applications by existing holders are still accepted.
from AUD 5,000,00040 days/yr
Sources: BIIP closure and refunds โ Department of Home Affairs
Investment (golden visa)โ citizenship
Business Innovation and Investment (Permanent) visa (subclass 888) โ pipeline only
The permanent second stage of the closed BIIP. Still granted (page live and updated 1 July 2026), but only to existing subclass 188 provisional visa holders who complete their stream requirements (e.g. Significant Investor stream holders who maintained the AUD 5m complying investment, typically ~4 years, with 40 days/year presence). Not open to any new entrant who does not already hold a subclass 188 visa, so it is not an available residence-by-investment entry route.
from AUD 5,000,00040 days/yr
Sources: Subclass 888 Business Innovation and Investment (Permanent) visa โ Department of Home Affairs
Talentโ citizenship
National Innovation visa (subclass 858)
Australia's current top-tier talent route and the closest successor to the investor program: a direct permanent visa, by invitation only, for people with an internationally recognised record of exceptional and outstanding achievement. Home Affairs explicitly names 'innovative investors' and 'entrepreneurs' among target cohorts alongside global researchers, athletes and creatives โ but it is merit-based with no passive-investment threshold. Requires an Expression of Interest, ministerial invitation (apply within 60 days), and a nominator of national reputation. Commenced 6 December 2024, replacing the Global Talent (subclass 858) visa; processed under Ministerial Direction 112.
Sources: Subclass 858 National Innovation visa โ Department of Home Affairs