188 visa which is formally known as the Business Innovation and Investment (Provisional) visa is a visa program under the various programs provided by the government of Australia. This visa program is considered as the pathway charming for the global entrepreneurs and investors who are seeking a future in the turf of Australia. With major changes in the migration scenes of Australia, the 188 visa is now a legacy stream that prioritizes the management of current 188 visa holders and transitioning them to the Permanent Residency (PR) holder in Australia.
With more than 13 years of proving specialized and tailored services in the line for visa services, BJay Education & Visa Services has provided help to numerous clients all around the globe. As confusion for the 188 visa program rises with the recent changes hence, we here at BJay have meticulously drafted this article to guide you throughout the process. This guide has been backed up by data from the Department of Home Affairs (DHA) to help you with the latest data and information. In this guide, you will know about the 188 visa, its requirements, processing times and the transition process from 188 visa to 888 visa.
188 Visa
The 188 visa or the Business Innovation and Investment (Provisional) visa is a visa program that is a point-based and allows the high-net-worth individuals to do business activities in Australia be it owning a business or investing in it. As the 188 visa program is a provisional visa program it is considered as a cornerstone for PR in Australia after transitioning from 188 visa to 888 visa. The 188 visa program is valid for the duration of 4 years and 3 months during which you are required to fulfill all the requirements and transition to PR in Australia using 888 visa.
Status of 188 Visa in 2026
The 188 visa as of 2026 is now a legacy visa program basically meaning that this visa program is now not available to apply for new applicants but is still an available pathway for existing visa holders to transition from the 188 visa program to the PR using the 888 visa.
The status of the 188 visa in 2026 can be understood clearly with the given table:
| Category | 2026 Status | Action Allowed |
|---|---|---|
| New Primary Applicants for the visa program | Permanently Closed for new entrants | Must apply for the new National Innovation Visa (NIV). |
| Existing 188 Holders | The existing holders of 188 visa have Active & Protected status. | Can Freely run their business/investment operations without interventions. |
| 188 Extension Stream | Open | Apply if more time is needed for PR requirements |
| Secondary Applicants | Open | Family members can still be added to existing visa application files |
| Pathway to PR (888) | Open & Priority | Existing 188 visa holders can transition to the subclass 888 once milestones are met |
| Refunds (VAC) | Available | If the VAC is submitted on or after 31 July 2024 then a refund for it is available. |
188 Visa Streams
Under the 188 visa, there are certain streams that represent the diverse pathway under the Business Innovation and Investment (Provisional) Program. Every stream under this visa program has been created to cater to different individuals having different backgrounds and different requirements. Even though the 188 visa is now already a legacy stream, it is crucial for the 888 visa holders to know about the 188 visa streams for the transition process.
Business Innovation Stream (188A)
The Business Innovation Stream, also known as Subclass188A, is the most popular stream under the 188 visa program which is preferred by most business owners. If you are a high-net-worth individual who has a proven history of owning and managing a business venture, then this stream is suitable. To be eligible for this stream, you are required to show a significant turnover of AUD $750k and are required to have the intention of establish a business in Australia. This stream is the only one that allows you have a 2-year extension if you need more time to meet the requirements for the PR in Australia and transition into the 888 visa.
Investor Stream (188B)
The Investor Stream or the Subclass 188B is the stream that is designed specifically for successful investment managers in Australia. Unlike the business innovation stream, you don’t need to own a stake in the business instead you are required to have proof of managing AUD 2.5 million in eligible investments (like stocks, bonds, or real estate). In order to be eligible for entry, you are required to agree to place AUD $2.5 million into an Australian Complying managed funds or the entirety of the stay on the 188 visa provisional period.
Significant Investor Stream (188C)
The Significant Investor Stream or the Subclass 188C is the VIP pathway to the 188 visa program. In this stream, you are required to have a total investment of AUD $5 million into a specific split having the split as venture capital (20%), emerging companies (30%), and balancing investments (50%). Due to the nature of the stream being very demanding on the funds department, the DHA usually exempt individuals from applying for this stream from points test, the age limit, and significantly reduces the residency requirement to just 40 days per year.
Entrepreneur Stream (188E)
The 188E or the entrepreneur stream is the specific stream that is meant for the next generation of innovators. It generally focuses more on human capital and comparing entrepreneurial activities rather than focusing solely on personal wealth. This stream requires you to be nominated by a state or territorial government of Australia and show that your specific venture will lead to the commercialization of a product or specific service in Australia.
| Feature | 188A | 188B | 188C | 188E |
|---|---|---|---|---|
| Core Target | Business Owners/Managers | Experienced Investors | High-Net-Worth Individuals | Tech & Start-up Founders |
| Min. Investment | AUD 1.25M (Net Assets) | AUD 2.5M (Managed Funds) | AUD 5M (Complying Funds) | No personal capital req.* |
| Min. Turnover | AUD 750,000 | N/A | N/A | N/A |
| Age Limit | Under 55 (Waivers available) | Under 55 (Waivers available) | No Age Limit | Under 55 (Waivers available) |
| Points Test | 65 Points Required | 65 Points Required | No Points Test | No Points Test |
| English Level | Functional (or 2nd installment) | Functional (or 2nd installment) | Functional (or 2nd installment) | Competent (IELTS 6.0) |
188 Visa Australia Requirements
In order to enter the turf of Australia with the 188 visa you are required to satisfy a certain set of requirements provided by the DHA during the entry. While as of April 2026, this visa program is currently in its legacy phase and is not available for new entrants, these were the set of requirements individuals were required to satisfy for the 188 visa:
General Entry Requirements for Subclass 188
Regardless of the stream, there are certain requirements that must be satisfied to be granted with the 188 visa.
- For this visa program, you are required to be nominated by a state or Territory of Australia before you lodge your visa application.
- To be eligible for this visa program, you must submit an Expression of Interest (EOI) via SkillSelect and receive an official Invitation to Apply (ITA) from the DHA.
- In order to be eligible for this visa program, you are generally required to be under the age limit of 55 years whereas some specific states tend to offer waivers according to the specific stream.
- Another requirement for the visa program is that you were required to provide English Test Result from an approved Test from DHA like IELTS, PTE, TOEFL You needed to score at least Functional English with the overall score of IELTS 4.5 or equivalent.
- If you wanted to be eligible for the Innovation and Investor streams, you were required to score at least 65 points on the Business Innovation and Investment Points Test.
Stream-Specific Entry Requirements
If you wanted to apply for the 188 visa when it was not a legacy visa option, then you need to satisfy certain requirements in order to qualify for certain streams.
- Business Innovation Stream (188A)
This stream under the 188 visa is specifically designed to cater the business owners. In this stream, you were required to satisfy the following criteria:
- You needed to have a business turnover of at least AUD $750,000.
- You, with your combined applicants, need to have net business and assets of a minimum of AUD $1.25 million.
- You were required to have a proven history of successful business career while making sure that you are not involved in any illegal business activities.
- Investor Stream (188B)
The 188B stream is the stream under the 188 visa program that is specifically designed for individuals who have a history of successful investment management. In order to be eligible for this visa program, you need to satisfy the following requirements.
- You were required to have at least 3 years of experience with directly managing one or more qualifying business or eligible investment in Australia.
- You were required to have a designated investment of AUD $2.5 million into the complying Australian management funds.
- For this stream, you are legally required to have acquired net assets of at least AUD $2.5 million.
- Significant Investor Stream (188C)
188C or the Significant Investor Stream is the stream that was created to cater high-net-worth individuals with fewer residency requirements.
- For this stream, you were required to have a commitment to invest at least of AUD $5million into complying investment in Australia for the entire duration of your provisional 188 visa.
- As this stream was made with fewer limitations and catered to high-end individuals, it doesn’t have an age requirement or points test requirements.
- Entrepreneur Stream (188E)
The 188E stream is especially designed to cater the individuals who have an innovative start-up idea.
- For this stream, you are required to have an endorsement from a state or territory government for the purpose of “complying entrepreneur activity”.
- In order to be eligible for this specific stream, you are required to have the activities that lead to the commercialization of a product/service or the development of a business in Australia
Health and Character Requirements
If you want to enter any of the streams under the 188 visa, you were required to satisfy the following requirements under the health and character requirements of Australia.
- You were required to pass a medical health examination from a physician who is approved by the DHA.
- You were required to provide police clearances from every country that you have lived in for more than 12 months in the last 10 years.
- You must sign the Values Statement provided by the Australian government which confirms that you respect and accept the Australian way of life and abide to the law of Australia.
- You must not have any outstanding debts to the government of Australia.
188 Visa Costs
As financial planning while you apply for a visa is a crucial factor that should be considered, while you apply for the 188 visa make sure to check every factor that may alter the course of actions. As of 2026, the 188 visa is now closed to new applicants but the fees for the visa program remains as a benchmark if you are someone who is trying to process your visa through backlogs.
The following table shows the cost related to the 188 visa program with the streams related to it:
| Visa Stream / Category | Main Applicant | Additional (18+) | Additional (<18) |
|---|---|---|---|
| Business Innovation (188A) | AUD $10,000 | AUD $5,000 | AUD $2,500 |
| Investor Stream (188B) | AUD $10,000 | AUD $5,000 | AUD $2,500 |
| Significant Investor (188C) | AUD $14,670 | AUD $7,335 | AUD $3,670 |
| Entrepreneur Stream (188E) | AUD $6,765 | AUD $3,385 | AUD $1,690 |
| 188 Extension (All Streams) | AUD $1,205 | AUD $605 | AUD $300 |
188 Visa Processing Time
While the 188 visa program is now closed to new entrants, the DHA now focuses on needing to finalize the remaining legacy files related to it. While streams like “Significant Investor” and “Entrepreneur” continue to get priority other streams under it are subject to extended queues.
The following table outlines the current global processing times for the 188 visa program:
| Visa Stream (Subclass 188) | 75% of Applications | 90% of Applications |
|---|---|---|
| Business Innovation (188A) | 36 Months | 42 Months |
| Investor Stream (188B) | 34 Months | 39 Months |
| Significant Investor (188C) | 12 Months | 18 Months |
| Entrepreneur (188E) | 14 Months | 20 Months |
| 188 Extension (All Streams) | 12 Months | 20 Months |
PR Pathway with 188 Visa
If you are currently holding a 188 visa and looking to secure a Permanent Residence (PR) in Australia, then you need to know that this visa provides a pathway to the PR in Australia though the 888 visa. The 888 visa is the final cornerstone of the journey where you will receive a PR and a pathway to Australian citizenship after successful completion. For you to be eligible for the 888 visa, you need to satisfy the requirements specific to your chosen stream.
FAQs
Yes, the 188 visa as of July 2024 is now a legacy visa option and is not available for new applicants. The government of Australia has now shifted from the traditional 188 visa to the National Innovation Visa (Subclass 858). However, the visa is still available to extension streams and current 188 visa holders who are looking to transition to the 888 visa for PR in Australia.
No. the 188 visa is not a PR visa but a provisional (temporary) visa program that has a pathway to PR with the 888 visa. In order to transition from the 188 visa to the subclass 888, you are required to satisfy a set of requirements under the streams you select on your provisional visa program.
Yes. If you are someone who holds a 188 visa in 2026 with the streams of Business Innovation or Significant Investor, you are eligible to apply for the extension if you require more time to meet the requirements for the subclass 888 and get the PR. Most extension have a validity of 2 to 4 years which allow you to stay in Australia.
The 188 visa or Business Innovation and Investment Provisional subclass 188 is a temporary visa program under the Australian government that allows the entrepreneurs and investors to operate and manage their high scaled business in Australia. While it was the primary gateway for business owner to enter Australia as of 2024, this visa program is not available to new entrants.
If you want to move from the 188 visa to the 888 visa for PR in Australia, then you are required to meet the following requirements successfully:
- Meet the Performance threshold as per the requirement of the specific stream
- Obtain a new state nomination for the program.
- Lodge the 888 application and wait for the grant on Bridging Visa A.
Moving forward with a legacy visa program is not an easy task to do. If you are looking to know about the 188 visa and the process to transition to an 888 visa then you need a strategic partner to help you throughout the process.
Why BJay?
Proven Expertise: We here at BJay Education & Visa Services have been providing continuous support for more than 13 years that is specifically tailored to help you navigate through the complex migration scenes of Australia.
Expertise Team: BJay has a specialized and expert team which is led by Mr. Jay Oli (MARN: 1570827) who is available to support you with any queries you might have in your application process.
Global Presence & Local Support: With offices present in multiple locations throughout Nepal (Putalisadak and Birtamode) and a head office in Sydney, BJay provides you with seamless support you may require whether you are in your home country or already in the turf of Australia.
State Nomination Success: We here at BJay have an exceptional record of state nomination success and have active liaisons with state nominating bodies like Migration Queensland and Live in Melbourne.
Strategic Role Swapping: If in any case scenario you as a primary applicant cannot fulfill the residency requirements with the 188 visa required for the 888 visa then we help you with the legal frameworks for your secondary applicant to take the lead in the application and secure your PR.
Thinking about the 188 visa workstreams? Book a Free Consultation with BJay!
