Business Visa Pathways for Entrepreneurs in Australia After the 188 Visa Closure

The closure of the Business Innovation and Investment (Provisional) Visa (Subclass 188) has led to uncertainty among entrepreneurs regarding their current visa options for business expansion in Australia.

If you are planning to expand your business in Australia or were an applicant for the 188 visa, this article provides an overview of the current available visa options for business owners. It outlines the impact of the 188 visa closure on existing applicants and explores alternative pathways for individuals seeking to pursue business opportunities in Australia.

What Happened to the 188 Visa?

The Business Innovation and Investment (Provisional) Visa (Subclass 188) was a pathway for entrepreneurs, investors, and business owners who planned to establish or expand their business in Australia. It attracted a significant number of international applicants, particularly from regions with a high interest in business migration.

The visa was introduced in 2012 and facilitated the migration of skilled entrepreneurs and investors to Australia. The basic eligibility criteria for the visa included the following:

• The applicant must have strong business experience
• The applicant must have significant assets
• The applicant must be committed to establishing a business in Australia.

However, its closure on 31 July 2024 has resulted in significant uncertainty for applicants, leading many to explore alternative migration pathways.

Closure of the Business Innovation and Investment Program (BIIP)

The 188 visa was a key program facilitating business and investment migration to Australia. Its discontinuation meant that many applicants, whose matters were under review, would need to explore other visa streams.

As of 2025, there has been no formal announcement from the Australian government regarding the introduction of a replacement visa for BIIP.

What Happens to Existing Applicants?

Applicants who submitted a Subclass 188 visa application before 31 July 2024 will have their applications processed under the rules that applied at the time of submission. However, they may experience some delays due to changes in migration priorities and application processing timelines.

These visa applications under review will not be cancelled, and no new applications for the 188 visa are being accepted. If you withdrew your application on or after 31st of July 2024, you may be eligible to receive a refund for the Business Innovation, Investor, Significant Investor, and Entrepreneur streams.

No Direct Replacement Yet for BIIP

Several factors led to the permanent closure of the BIIP. The closure of BIIP followed a 2023 review which found that the overall economic contribution of some BIIP visa holders was lower than expected, prompting a reconsideration of the program’s long-term sustainability.

Moreover, language barriers and integrity issues arose due to the visa, leading to its closure on 31st July 2024. The Australian government has not officially introduced a direct replacement for the 188 visa under BIIP. However, entrepreneurs can choose from several other alternative visa options.

Current Visa Options for Business Owners in 2025

Although the Australian government has closed applications for the 188 visa, individuals pursuing business opportunities can still choose from other options.

Skills in Demand Visa (Subclass 482)

The Temporary Skill Shortage (TSS) visa (Subclass 482) primarily allows Australian employers to sponsor skilled overseas workers. While there is no general self-sponsorship pathway, certain high-demand occupations may allow provisional self-nomination or independent applications under employer-linked arrangements.

The DHA closely examines each application to ensure that there is no misuse of this visa provision. The visa is valid for four years and serves as a pathway to permanent residency in Australia.

[free_consultation]

Book a Consultation‍

If you are interested in getting more information about a visa, get in touch with Australian Migration Lawyers for a consultation.

[/free_consultation]

491 Skilled Work Regional Visa

The Skilled Work Regional (Provisional) visa (Subclass 491) is a provisional visa for skilled workers to live and work in Australia for up to five years. The visa also serves as a pathway to permanent residence in Australia. This means that if you have lived on the 491 visa for three years and have met several other eligibility criteria, you may also become eligible for permanent residency.

Visitor Visa (Subclass 600)

Another visa option is the Visitor Visa (Subclass 600), which allows business owners to visit Australia for purposes of conducting work meetings and exploring business opportunities. It is a temporary visa and valid for up to three or ten months, depending on the specific stream and purpose of the visit.

This visa provides a valuable opportunity to network, attend conferences, or assess the Australian market before making any commitments or investments.

New Visa Pathway for Business Owners

A new visa pathway has been introduced, gaining popularity among entrepreneurs and investors. The National Innovation and Investment Visa (Subclass 858) is one of the primary options for highly talented individuals seeking to live and work in Australia.

National Innovation Visa (NIV)

The National Innovation Visa (NIV) provides an opportunity for internationally recognised talent to live and work in Australia. Unlike the 188 visa stream, which required significant investment, the NIV is for individuals with exceptional talent or achievements.

This is a permanent, invitation-only visa for emerging leaders with a proven record of success in their field, who can bring significant economic benefits to Australia.

Individuals can apply either offshore or onshore, but an expression of interest (EOI) must first be submitted to the Department. On top of that, you must have an internationally recognised achievement in:

• A profession
• Sports
• Art
• Academia or research

State and Territory Nomination Pathways for Entrepreneurs

The Skilled Work Regional Visa (Subclass 491) enables eligible skilled workers and their families to live, study, or work in designated regional areas in Australia for up to five years.

The primary pathway for the visa is to be nominated by an Australian state or territory government agency or sponsored by an eligible family member residing in a designated regional area. The visa also serves as a pathway to permanent residence under the 191 visa.

Visa Pathways for Business Owners in 2025

[table][tbody][tr][th]Visa Type[/th][th]Permanent or Temporary[/th][th]Main Eligibility[/th][th]Suitable For[/th][/tr][tr][td]600 Visitor Visa[/td][td]Temporary[/td][td]Invitation-only[/td][td]Established or emerging entrepreneurs with internationally recognised achievements[/td][/tr][tr][td]482 Skills in Demand Visa[/td][td]Temporary (leads to PR)[/td][td]Self-sponsored[/td][td]Applicants with specific skills[/td][/tr][tr][td]491 Visa[/td][td]Temporary (regional)[/td][td]State/territory nomination[/td][td]Regional business owners[/td][/tr][tr][td]191 Visa[/td][td]Permanent[/td][td]After 491 requirements met[/td][td]Regional entrepreneurs[/td][/tr][tr][td]NIV[/td][td]Permanent[/td][td]High-achieving innovators[/td][td]Tech founders, investors[/td][/tr][/tbody][/table]

How Migration Lawyers Can Help Business Owners

If you are unsure about the best visa pathway, migration lawyers can provide clarity and guidance. The Australian migration law is complex, and with the closure of the BIIP (Subclass 118) visa, business owners have been left confused about alternative visa options.

This is where a team of migration lawyers can help. Australia is a land of opportunity, but navigating its strict visa and migration system can be overwhelming. Moreover, staying compliant with visa conditions is essential to secure your future in the country. With expert legal guidance, you can understand the eligibility criteria and determine the best visa pathway suited to your goals.

Frequently Asked Questions (FAQs)

When Did the 188 Visa Close?

The 188 visa, which was part of Australia's Business Innovation and Investment Program (BIIP), was closed to new applicants as of 31 July 2024. However, if you applied for the visa before the closure date, your visa will be processed under the previous visa rules.

What Is Replacing the 188 Visa?

There are several visa options for business owners now that the 188 visa is closed. For instance, individuals can live and work in Australia under the 482 Skills in Demand Visa (Self-Sponsorship Pathway), 491 Skilled Work Regional Visa, and 858 NIV Visa.

Can Business Owners Still Move to Australia in 2025?

Although the BIIP (Subclass 188) was permanently closed on 31 July 2024, business owners can still migrate to Australia through alternative visa pathways, including the National Innovation Visa (Subclass 858) and the Subclass 491 visa.

Is Self-Sponsorship Legal Under the 482 Visa?

No general self-sponsorship pathway exists under the Subclass 482 visa; this visa primarily requires employer sponsorship. Entrepreneurs may explore other pathways, such as the National Innovation Visa, for independent applications.

What Are the Eligibility Criteria for the National Innovation Visa (Subclass 858)?

To be eligible for the National Innovation Visa (Subclass 858), applicants must:

• Be nominated by an approved Australian organisation and demonstrate exceptional talent or innovation
• Have a proven record of success in their field, such as outstanding achievements in their profession, arts, sports, or academia
• Show that they can bring significant economic benefits to Australia

Applicants must also meet health, character, and, where applicable, English language requirements to be eligible for the National Innovation Visa. In addition, they need to clearly show their internationally recognised achievements and have a plan to contribute to Australia’s innovation and economic growth. This visa is aimed at emerging leaders and high-calibre individuals who can make a meaningful impact.