Business Innovation and Investment (Provisional) visa 188
Closed to new applications on 31 July 2024. Only the two extension streams remain, for current 188 holders.
Closed to new applicants
Who it is for
Current 188 holders who need more time: the Business Innovation Extension stream (after holding a Business Innovation stream 188 for at least 3 years) and the Significant Investor Extension stream (after 3 years, up to two extensions, maximum 4 more years).
Main requirements
- Business Innovation Extension: held the Business Innovation stream 188 for at least 3 years; main business operating actively in Australia for at least 2 years; ownership and day-to-day management maintained; a current state or territory nomination and an invitation; no unacceptable business history.
- Significant Investor Extension: held the Significant Investor 188 for at least 3 years, no more than one previous extension, and the complying significant investment still held.
- Functional English or second instalment if not paid before; health and character.
Where you apply from
In or outside Australia, not in immigration clearance.
Your journey, step by step
From the first enquiry to the decision and after, with how a registered migration agent helps at each step. No step promises an outcome.
- Readiness review
Check business activity, ownership, nomination or investment.
How a registered migration agent helpsA registered migration agent reviews readiness honestly. - Service agreement
Before any personal advice or preparation, you receive a written service agreement and the OMARA Consumer Guide.
How a registered migration agent helpsA registered migration agent sets out the work, the fee and the refund policy in writing. No money is taken for visa work before the agreement is signed. - Nomination and invitation
Obtain a current nomination and invitation (Business Innovation Extension).
How a registered migration agent helpsA registered migration agent coordinates with the state. - Lodge
Lodge the extension with evidence.
How a registered migration agent helpsA registered migration agent prepares business or investment evidence. - Next step
Plan the 888 permanent visa.
How a registered migration agent helpsA registered migration agent plans the 888 application.
Government charges from 1 July 2026
Paid to the Department of Home Affairs, not to us.
| Applicant or item | Charge (A$) |
|---|---|
| Extension streams, main applicant | A$1,505 |
| Extension streams, family member 18 or over | A$760 |
| Extension streams, family member under 18 | A$380 |
| Original streams | Closed |
Check every charge in the Home Affairs Visa Pricing Estimator.
Processing times
Home Affairs visa processing time guide. Significant Investor Extension: processing times not available. Read 22 October 2026. A guide only, not a promise.
| Business Innovation Extension | 50% in 6 months, 90% in 11 months |
|---|
Common refusal reasons
- Business not actively operating for 2 years.
- Nomination not current.
- Complying investment not maintained.
- Unacceptable business or investment history.
Document checklist
Tick items as you gather them. Your ticks stay on this device only.
- Business
- Investment
Recent and upcoming changes
- 31 July 2024
The Business Innovation and Investment Program closed permanently to new applications. VAC refunds are available for eligible applicants who withdraw.
Talk it through before you apply.
The first 15 minutes are free and general. Personal advice starts after a written service agreement.
Information checked 22 October 2026. General information only, not advice for your situation. Rules and charges change; check the official sources before you act.