Significant Investor Stream Overview
The Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream is designed for high-net-worth individuals who are willing to invest at least AUD 5 million into complying Australian investments.
Important 2026 Update: As of 31 July 2024, the Australian Government has closed the Business Innovation and Investment Program (BIIP) to new applications. This article serves as a compliance guide for existing subclass 188 holders and those whose applications were lodged prior to the closure. For new talent and investors, the National Innovation Visa (subclass 858) has replaced this pathway.
2026 Eligibility Requirements
To maintain compliance or transition to permanent residency via the subclass 888, visa holders must adhere to strict requirements:
- Nomination: You must be nominated by an Australian State or Territory government agency or Austrade.
- Investment Duration: You must hold your complying significant investment for the entire duration of your provisional visa.
- Residency Requirement: You must reside in Australia for at least 40 days per year for the duration of the provisional visa (calculated cumulatively).
- English Language: While there is no points test, applicants and adult family members must demonstrate functional English or pay the second instalment of the visa application charge.
Complying Investment Framework
For applications lodged on or after 1 July 2021, the AUD 5 million investment must be allocated according to the following 2026 standards:
| Investment Type | Minimum Allocation |
| Venture Capital & Private Equity | AUD 1,000,000 (20%) |
| Emerging Companies (ASX Listed) | AUD 1,500,000 (30%) |
| Balancing Investment (Managed Funds) | AUD 2,500,000 (50%) |
Note: Direct investment in residential real estate remains strictly prohibited. Managed funds may have limited exposure to commercial real estate.
Application Fees and Charges
The Department of Home Affairs updated the visa application charges (VAC) for the 2025-2026 financial year. Below are the current base rates for the Significant Investor stream:
- Main Applicant: AUD 14,670
- Additional Applicant (18 and over): AUD 7,335
- Additional Applicant (Under 18): AUD 3,670
- Second Instalment (if required): AUD 9,795 (for applicants with less than functional English)
All fees are subject to change by the Department of Home Affairs and exclude costs for health checks, police certificates, and biometrics.
Processing Time Benchmarks
Processing times for the subclass 188 Significant Investor stream are currently influenced by the 2024 program closure and the prioritisation of existing caseloads.
| Percentile | Estimated Processing Time |
| 50% of Applications | 14 Months |
| 90% of Applications | 22 Months |
Processing times vary based on the complexity of the investment source of funds and the responsiveness of the applicant to information requests.
Frequently Asked Questions (FAQ)
Can I apply for a new 188 Significant Investor visa in 2026?
No. New applications for the subclass 188 closed on 31 July 2024. Only those who already hold the visa or applied before this date can continue their pathway to permanent residency.
What is the "Mobile" requirement for communication?
Applicants must provide a valid Mobile number and email address for all Departmental correspondence. Ensure your contact details remain updated via ImmiAccount.
Can I extend my stay if I need more time to meet residency requirements?
Yes. If you hold a subclass 188 in the Significant Investor stream, you may be eligible to apply for a Significant Investor Extension stream visa, which provides an additional four years to meet the permanent residency criteria.
