Migration Overseas
Since 1998
The Business Innovation and Investment visa (subclass 188) is closed to new applicants. Existing 188 holders can still apply for the Business Innovation and Investment (Permanent) visa (subclass 888). For new applicants, the National Innovation visa (subclass 858) is the current talent and business pathway to permanent residence, and it is by invitation only.
What is still open, what has closed, and who each visa now applies to.
The Business Innovation and Investment Program (BIIP), which included the 188 visa, is closed to new applications. Home Affairs states that the program closed on 31 July 2024 and that applications made before that date are still being processed. The 2026-27 Migration Program keeps only 20 places for BIIP visas, to finalise applications already in the system. You cannot lodge a new 188 application in any stream, including Business Innovation, Investor and Significant Investor.
No new 188 applications can be made. State and territory nomination for the 188 is no longer available.
Closed to new applicantsApplications made before the closure continue to be processed by Home Affairs.
People who are not already in the 188 program can consider the National Innovation visa (858) below, if they have an exceptional and outstanding record of achievement.
The 888 is the permanent stage of the business program. It remains available only to people who already hold a 188 visa and have met the requirements of their 188 stream. It is not a pathway for new applicants, because a new 188 can no longer be obtained.
Current 188 holders who have met the business, investment and residence requirements of their 188 stream.
Permanent residence, with the right to live, work and study in Australia and access Medicare.
If you hold a 188, have your compliance with the stream requirements reviewed well before your 188 expires.
The National Innovation visa (NIV) replaced the Global Talent visa from 6 December 2024 and keeps subclass number 858. It is a permanent visa for people with an internationally recognised record of exceptional and outstanding achievement in a profession, a sport, the arts, or academia and research. Applications are processed under Ministerial Direction No. 120. The Talent and Innovation planning level for 2026-27 is 3,500 places, so invitations are limited.
You must first lodge an Expression of Interest (EOI). Home Affairs must invite you before you can apply, and you then have 60 days to lodge the visa application.
EOI and invitationYou need an internationally recognised record of exceptional and outstanding achievement, and a nominator with a national reputation in your field who is an Australian citizen, an Australian permanent resident, an eligible New Zealand citizen, or an Australian organisation.
The former Global Talent salary test no longer applies. The NIV has no minimum salary requirement. The visa application charge from 1 July 2026 is AUD 6,235 for the main applicant, AUD 3,120 for each family member 18 or over and AUD 1,560 for each child under 18.
AUD 6,235 from 1 July 2026Status of each business and talent visa as at 6 November 2026.
Key requirements for the subclass 858, as published by Home Affairs.
Find answers to the most common questions about business visa category.
No. The Business Innovation and Investment visa (subclass 188) is closed to new applications in all streams, including Business Innovation, Investor and Significant Investor. Applications made before the closure are still being processed.
Yes. Existing 188 holders can still apply for the Business Innovation and Investment (Permanent) visa (subclass 888) once they meet the requirements of their 188 stream.
The National Innovation visa (subclass 858) replaced the Global Talent visa from 6 December 2024. The Global Talent visa is closed to new applications.
You submit an Expression of Interest (EOI). The visa is invitation only: Home Affairs must invite you before you can apply, and you then have 60 days to lodge your application.
Applicants need an internationally recognised record of exceptional and outstanding achievement in a profession, a sport, the arts, or academia and research, and a nominator with a national reputation in the same field.
No. The NIV has no salary threshold. The salary test that applied to the former Global Talent visa does not apply.
From 1 July 2026 the visa application charge is AUD 6,235 for the main applicant, AUD 3,120 for each family member aged 18 or over and AUD 1,560 for each child under 18.
Yes. Members of the family unit can be included when you apply, or added at any time before a decision is made. They must meet the health and character requirements.
The Talent and Innovation planning level for 2026-27 is 3,500 places. This figure includes 20 places for the closed Business Innovation and Investment visas.
Speak with our team about whether the National Innovation visa or another current pathway fits your profile, or about an existing 188 visa and the move to 888.
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