188B investment visa
The 188B visa is available only to applicants who are nominated by an Australian State or Territory government. This is a temporary visa valid for five years, designed for individuals who want to make a designated investment in an Australian state or territory. After maintaining the investment in Australia for four years, applicants can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa. Applicants may lodge this visa application whether they are in Australia or overseas.
If the applicant is in Australia, they must:
- Hold a Substantive Visa or a Bridging A, B, or C visa.
- Reside in the nominating State for at least two years.
188B investment visa
Update:
- Upcoming changes to Australia’s immigration policies in 2021 will affect Business and Investment Visas.
- Each state has specific requirements for business visas.
- COVID-19 concessions apply to Business visas (SC188 and SC888).
- The Business Innovation and Investment visa program (BIIP) will end, with visa application charge refunds available from September 2024 for those who choose to withdraw their BIIP application.