Business & Investment Migration
The landscape of Australian business migration has fundamentally shifted following the closure of the Business Innovation and Investment Program (BIIP) to new applicants. We detail the secure permanent residency pathway for current Subclass 188 visa holders and explore the new opportunities available for outstanding individuals including business, investment,and talent visas.
Emerging Pathways for Entrepreneurs and Global Talent
Following the closure of the BIIP, the Australian government has redirected its efforts towards drawing distinguished entrepreneurs, investors, and talents capable of fostering economic development through innovation and expertise, instead of depending exclusively on monetary contributions.
National Innovation Visa (Subclass 858) (NIV)
Overview
- this is a permanent visa
- to work and study in Australia
- pathway to become Australia Citizens
- sponsor eligible family members to apply for permanent residency
Eligibility
- exhibit an internationally acknowledged record of remarkable and distinguished accomplishments in one of the following areas:
- a profession
- a sport
- the arts
- academia and research.
- have a nominator with a recognized national reputation in your talent area who is classified as one of the following:
- an Australian citizen
- an Australian permenant resident
- an eligible New Zealand citizen
- an Australian organisation
Do you already hold a Subclass 188 Visa?
Your path to Permanent Residency is secure.
If you currently hold a provisional Business Innovation and Investment visa (Subclass 188), your route to the permanent Business Innovation and Investment visa (Subclass 888) remains open. This is the second stage of your visa journey, allowing you to live in Australia indefinitely.
We specializes in helping different streams of Subclass 188 holders to meet specific requirements transition to permanent residency (from 188 to 888).
Business Innovation stream
For those holding a provisional visa and running a business in Australia, it is essential to show continuous engagement in your business and fulfill the required financial criteria.
Investor stream
For high-net-worth individuals (HNWIs) who have maintained their compliant investment of at least AUD $1.5 million in an Australian state or territory throughout the period of their provisional visa.
Significant investor stream
For very-high-net-worth individuals (VHNWIs) who have maintained their compliant investment of AUD $5 million in an Australian state or territory throughout the period of their provisional visa.
Premium investor stream
For ultra-high-net-worth individuals (UHNWIs) who have maintained their compliant investment of AUD $15 million in an Australian state or territory throughout the period of their provisional visa.
Entrepreneur stream
For individuals who have illustrated a successful history of entrepreneurial initiatives in Australia throughout the period of their provisional visa.
Do you find yourself needing more time?
If you find yourself needing extra time to satisfy the criteria for a permanent visa, you could be eligible for a Visa Extension.
The closure of the BIIP does not impact the ability of current 188 visa holders to apply for these extensions.