The following information relates to the new Business Innovation and Investment Program framework introduced on 1 July 2021.

For pre-1 July 2021 visas under the Business and Investment categories please visit this link.

The new Business Innovation and Investment Program provides the main avenue for successful business owners and investors who wish to establish or develop new or existing businesses in Australia, or who are interested in investing directly into the Australian economy. It is an encouraging pathway to towards Australian Permanent Residence and/or Citizenship.

There are four visa streams under the Business Innovation and Investment Program.

The Business Innovation and Investment Program include the following:

• The Business Innovation Stream
• The Investor Stream
• The Significant Investor Stream
• The Entrepreneur Stream

The above temporary visas offer a direct pathway to permanent residence after three years, subject to meeting certain residence, investment or business turnover requirements.

Extension options:

Where an applicant has been granted a subclass 188 visa and has held this visa for a period of at least three years, they may be entitled to apply for an extension. There are only two types of extension visas for the Subclass 188 Visas:

• Business Innovation Extension Stream
• Significant Investor Extension stream

The extension allows you to extend your previous visa 188, and allows you to prolong your business visa for a few years if you’re not ready to apply for permanent residency.