Australia’s Business Innovation and Investment Program (BIIP) offers a pathway for entrepreneurs, investors, and business owners who wish to contribute to Australia’s economic growth while securing permanent residency. The program is highly specialised, requiring careful planning and expert guidance to navigate its complex visa subclasses and eligibility criteria.
In this article, we provide an overview of the BIIP, its history, visa streams, and application process.
The Evolution of the BIIP
Australia has welcomed business migrants since 1981. The program has undergone several reforms, evolving from the Business Skills Program (1992) into today’s BIIP, which was introduced on 1 July 2012.
The shift from “Business Skills” to “Business Innovation and Investment” reflected Australia’s growing focus on innovation and investment, including pathways that do not necessarily require business management experience. Importantly, independent pathways were removed, and entry now requires State, Territory or Austrade nomination.
Over time, some streams have been abolished, including the Premium Investor stream (188D) and the Business Talent visa (132), but the BIIP remains a key contributor to Australia’s skilled migration intake.
BIIP at a Glance
The BIIP is divided into provisional (subclass 188) and permanent (subclass 888) visas. Successful applicants begin on a provisional visa and, if program conditions are met, can transition to permanent residency.
Current Visa Streams under Subclass 188
- 188A – Business Innovation stream: For successful business owners looking to establish or manage a business in Australia.
- 188B – Investor stream: For individuals with a strong investment record, requiring a designated State/Territory investment.
- 188C – Significant Investor (SIV) stream: For high net-worth individuals investing at least AUD 5 million into complying Australian investments.
- 188E – Entrepreneur stream: For applicants with a third-party funding agreement to undertake innovative business activities in Australia. Extension streams are also available for certain 188 visa holders who need additional time to meet requirements.
Pathway to Permanent Residency – Subclass 888
Subclass 888 is the permanent stage, available once applicants demonstrate they have met the residence, business activity, or investment criteria of their provisional visa. Successful 888 visa holders may later be eligible for Australian citizenship.
Key Eligibility Features
While criteria vary by stream, some common features include:
- State/Territory or Austrade nomination required.
- Age limit of 55 for 188A and 188B (unless waived for exceptional benefit).
- Points test (65 minimum) for 188A and 188B.
- Lawfully acquired funds that can be transferred to Australia.
- Pathway to permanent residency via subclass 888.
Special Benefits of the Significant Investor Visa (188C)
The SIV is particularly attractive to high-net-worth individuals because:
- No age limit.
- No points test.
- Flexible residence requirements (160 days over 4 years).
- No requirement for day-to-day business involvement.
The Application Process
Applying for a BIIP visa involves several steps:
- Expression of Interest (EOI)
Submitted via the Department of Home Affairs’ SkillSelect system. - Nomination
A State, Territory, or Austrade reviews the EOI and may invite the applicant to apply. Nomination requirements vary by jurisdiction. - Visa Application
Once nominated, applicants have 60 days to lodge their application online, supported by detailed financial and business evidence.
Risks and Compliance
The BIIP is scrutinised closely by the Department of Home Affairs due to the high financial stakes involved. Applications may be refused under Public Interest Criteria (PIC) 4020 if false or misleading information is provided, potentially leading to a three-year bar on re-application.
Case law, such as Arora v Minister for Immigration and Border Protection [2016] FCAFC 35, underscores the importance of accurate and genuine documentation.
Why Work With an Immigration Lawyer?
Given the financial thresholds, regulatory requirements, and nomination criteria, BIIP applications are among the most complex visa categories. Errors or omissions can be costly, both financially and in terms of future migration prospects.
At Australian Migration Law, we specialise in guiding clients through every stage of the BIIP process—from selecting the right stream, to preparing supporting documentation, to securing State/Territory nomination and permanent residency.
The Business Innovation and Investment Program is a powerful pathway for entrepreneurs and investors to establish themselves in Australia while contributing to national economic growth. However, its complexity demands careful strategy and professional advice.
If you are considering applying for a Business Innovation and Investment visa (subclass 188/888), contact our team at Australian Migration Law to discuss your options.
Disclaimer
The content of this article is for information purposes only. Whilst every effort has been made to ensure the accuracy of the materials contained here and incorporated by reference, this article is not intended to constitute legal or immigration advice or assistance.
No person should act on the basis of the material contained in this presentation without obtaining advice relevant to their own circumstances and without considering and taking professional advice as may be necessary.
For tailored advice and comprehensive assistance with your migration matter, contact our experienced Australian immigration lawyers today. You can reach us by email at admin@australianmigrationlaw.com.au or phone +61 407 662 682 to obtain further guidance.