Subclass 188 · 888 · 132 Business Talent
Australia welcomes business owners and investors who bring capital, entrepreneurship and global expertise. CMG helps high-net-worth individuals navigate the Business Innovation and Investment Program.
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Overview
Understanding Your Options
The Business Innovation and Investment Program (BIIP) is a state-nominated, points-tested migration pathway for business owners, investors and entrepreneurs. It operates through a two-stage process: a provisional visa (subclass 188) followed by a permanent visa (subclass 888 or 132). Applicants must submit an Expression of Interest (EOI) through SkillSelect and receive a state/territory nomination before being invited to apply. The program has multiple streams designed for different applicant profiles — from established business owners to significant investors placing millions in Australian-complying investments.
Key Facts
Eligibility
Key Requirements
Business or Investment Assets
RequiredDepending on the stream: 188A requires AUD $2M business turnover and 51% ownership; 188B requires net assets of AUD $2.25M; 188C requires AUD $5M in net assets. All assets must be legally obtained.
Points Test (Business Innovation Stream)
RequiredThe 188A Business Innovation stream uses a points test covering age, English, business turnover, net assets, business years, and additional factors. A score of 65 is required to submit an EOI.
Business Ownership & Management
RequiredFor the 188A stream, you must have owned and managed an eligible business for at least 2 of the last 4 years. The business must be a legally operating entity with verifiable turnover.
State/Territory Nomination
RequiredAll BIIP applicants must receive a state or territory nomination before receiving an invitation. Each state has its own criteria — some prioritise certain industries, regional areas, or minimum investment thresholds above the program minimums.
Complying Investment Framework (188C)
The 188C Significant Investor stream requires AUD $5M placed in prescribed complying investments: at least 10% in eligible venture capital, at least 30% in eligible emerging companies, and the balance in managed funds or listed securities.
Age Under 55 (Business Innovation)
Applicants for the 188A stream must generally be under 55 years of age. The 188B and 188C Investor streams do not have an age requirement. Individual states may apply their own criteria.
Visa Subclasses
Choose Your Pathway
Business Innovation Stream
For established business owners with a proven track record. Requires AUD $2M turnover, 51% ownership, and a genuine intent to own and manage a new or existing business in Australia.
- AUD $2M+ business turnover required
- Must own 51%+ of the business
- Points test: minimum 65
- Leads to 888A permanent after 2 years
Investor Stream
For established investors. AUD $1.5M must be invested in State/Territory government bonds for 4 years. Net assets of AUD $2.25M required.
- AUD $2.25M net assets required
- AUD $1.5M in State/Territory bonds
- Hold investment for 4 years
- Permanent 888B visa after 4 years
Significant Investor Stream
Australia's most prestigious business visa. AUD $5M in complying investments with no points test, no age limit, and no English language requirement.
- AUD $5M in complying investments
- No points test, no age limit
- No English language requirement
- Leads to 888C PR after 4 years
Process
Step-by-Step Process
Assess Eligibility & Stream Selection
CMG reviews your business background, net assets and investment capacity to identify which BIIP stream is most appropriate. Business documentation must be assessed carefully against the relevant stream criteria.
Submit Expression of Interest (EOI) in SkillSelect
Lodge an EOI in SkillSelect indicating your preferred state(s) for nomination. Provide accurate details of your business and financial position — inflated or inaccurate claims can result in refusal.
Receive State/Territory Nomination
A state or territory nominates you based on their priorities and your EOI. Nomination may require a preliminary interview or additional documents demonstrating your business plan and commitment to the state.
Receive Invitation to Apply (ITA)
After nomination, the Department of Home Affairs issues an invitation to apply for the 188 visa. You have 60 days to lodge a complete application.
Lodge 188 Visa Application
Submit all financial evidence, business documents, tax returns, audited financial statements, police clearances and health examination results.
Establish Business or Make Investment in Australia
On your provisional 188 visa, you must actively engage with the program requirements: establish or purchase a business in Australia (188A), or make your complying investment (188B/C).
Apply for Permanent 888 Visa
After meeting the stream-specific business or investment requirements during the provisional period, lodge the permanent 888 visa application. Requirements include evidence of business activity, financials and compliance with visa conditions.
Fees
Government Fees & Costs
| Government Fees 2025–26 | Fee (AUD) |
|---|---|
| 188 provisional visa (primary applicant) | AUD $9,850 |
| 888 permanent visa (primary applicant) | AUD $2,965 |
| Secondary applicant (18+) | AUD $4,925 |
| 132 Business Talent (primary) | AUD $9,850 |
| Audited financial statements | AUD $2,000–$5,000 |
| Business plan (if required) | AUD $1,000–$3,000 |
| CMG professional service fee | POA |
| Estimated Total | AUD $15,000–$25,000+ (primary applicant, excluding investment) |
Business and investor visa costs are in addition to the investment capital required by each stream. Figures shown are government fees only. CMG provides detailed cost estimates at consultation.
Documents
Required Documents
FAQ
Frequently Asked Questions
The BIIP pathway requires careful preparation, strong documentation and strategic state nomination. CMG's business migration specialists provide end-to-end support from EOI through to permanent residency.