Australia: Certain Streams of the Business Innovation and Investment Program to Close
July 19, 2024
In line with the Australian government's plan to close the Business Innovation and Investment subclass 188 visa (BIIP), a visa program designed to attract individuals with successful backgrounds in owning or managing a business or investments to migrate to Australia, it has announced that interested applicants for the Business Innovation, Investor, Significant Investor, and Entrepreneur streams must file their applications before July 31, 2024, and this will have the effect of closing these streams to new applications. Those who have existing applications under these streams which are filed before July 31, 2024 will continue to be processed. The Australian immigration authorities will continue to accept the following applications: applications for the Business Innovation Extension and Significant Investor Extension streams for current Subclass 188 visa holders; applications for those seeking to satisfy secondary criteria for the Subclass 188 visa; and applications for the permanent Subclass 888 visa filed by subclass 188 visa holders, including those granted a visa before July 31, 2024.
This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
Explore more at Fragomen
Awards
Fragomen is recognized at the National Tier 1 level for Immigration Law in the 2026 edition of The Best Law Firms – United States, with 15 offices across the country also recognized for their excellence in immigration law.
Awards
Fragomen receives Altair Global’s 2025 Super Star Award for Humanitarian Commitment, honoring the firm’s leadership in advancing humanitarian mobility initiatives.
Media mentions
Partner Rick Lamanna discusses Canada’s 2025 federal budget and its significant shift in immigration policy including new limits on international student permits and temporary residents.
Fragomen news
Fragomen news
Fragomen is cited in the UK House of Lords’ landmark report, “The Space Economy: Act Now or Lose Out,” published on 4 November by the UK Engagement with Space Committee.
Blog post
Manager Zaur Gasimov discusses Georgia’s new immigration and labour-migration reforms introducing mandatory work permits, stricter employer compliance requirements and increased penalties for non-compliance.
Awards
Senior Associate Agata Danuta Richardson is recognized with a prestigious Pro Bono Publico Award by the Casa Cornelia Law Center.
Media mentions
Frankfurt Managing Partner Dr. Axel Boysen highlights the growing skilled labor gap as Europe’s defense industry expands.
Media mentions
Senior Manager William Diaz outlines the US visa options available to the games industry for bringing international talent to the United States, including O-1, L-1 and E-2.
Media mentions
Partner Jo Antoons and Manager Andreia Ghimis explain how businesses can navigate Europe’s new ETIAS pre-travel authorisation and avoid disruptions.
Media mentions
Partner Louise Haycock and Associate Jennifer Gray analyse the barriers and opportunities for overseas creatives navigating the UK’s immigration system.
Blog post
Associate Chloe Evans outlines eligibility criteria for individuals seeking British citizenship based on ancestral ties.
Awards
Fragomen is recognized at the National Tier 1 level for Immigration Law in the 2026 edition of The Best Law Firms – United States, with 15 offices across the country also recognized for their excellence in immigration law.
Awards
Fragomen receives Altair Global’s 2025 Super Star Award for Humanitarian Commitment, honoring the firm’s leadership in advancing humanitarian mobility initiatives.
Media mentions
Partner Rick Lamanna discusses Canada’s 2025 federal budget and its significant shift in immigration policy including new limits on international student permits and temporary residents.
Fragomen news
Fragomen news
Fragomen is cited in the UK House of Lords’ landmark report, “The Space Economy: Act Now or Lose Out,” published on 4 November by the UK Engagement with Space Committee.
Blog post
Manager Zaur Gasimov discusses Georgia’s new immigration and labour-migration reforms introducing mandatory work permits, stricter employer compliance requirements and increased penalties for non-compliance.
Awards
Senior Associate Agata Danuta Richardson is recognized with a prestigious Pro Bono Publico Award by the Casa Cornelia Law Center.
Media mentions
Frankfurt Managing Partner Dr. Axel Boysen highlights the growing skilled labor gap as Europe’s defense industry expands.
Media mentions
Senior Manager William Diaz outlines the US visa options available to the games industry for bringing international talent to the United States, including O-1, L-1 and E-2.
Media mentions
Partner Jo Antoons and Manager Andreia Ghimis explain how businesses can navigate Europe’s new ETIAS pre-travel authorisation and avoid disruptions.
Media mentions
Partner Louise Haycock and Associate Jennifer Gray analyse the barriers and opportunities for overseas creatives navigating the UK’s immigration system.
Blog post
Associate Chloe Evans outlines eligibility criteria for individuals seeking British citizenship based on ancestral ties.