Key Points
- Australia will close the Business Innovation and Investment subclass 188 visa on 31 July 2024
Update on Business Innovation and Investment Subclass 188 Visa Closure
The Australian government will close the Business Innovation and Investment subclass 188 visa (BIIP), designed for business owners and investors. Applications for the Business Innovation, Investor, Significant Investor and Entrepreneur streams must be submitted by 31 July 2024. After this date, these streams will be closed to new applications. Existing applications filed before 31 July 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 31 July 2024.
Looking Ahead
Continue to check the government of Australia’s website and Envoy Global’s website for the latest updates and information.
Content in this publication is for informational purposes only and not intended as legal advice, nor should it be relied on as such. For additional information on the issues discussed, consult an attorney at Corporate Immigration Partners, P.C., or another qualified professional of your choosing. On non-U.S. immigration issues, consult your Envoy representative, or another qualified representative of your choosing.
