Australia’s Business Innovation and Investment Program (BIIP) is a pathway for foreign entrepreneurs, investors, and business owners to obtain Australian residency. Designed to attract high-net-worth individuals and stimulate economic growth, the BIIP offers several visa subclasses tailored to different business and investment activities.
This guide provides a comprehensive breakdown of the BIIP, covering eligibility criteria, investment requirements, visa subclasses, application steps, and common challenges. If you’re looking to expand your business into Australia or invest in the country’s economy, understanding the BIIP is crucial.
1. Overview of the Business Innovation and Investment Program (BIIP)
The BIIP is a key component of Australia’s immigration policy, allowing foreign investors and business professionals to gain temporary and permanent residency through investment and business activities. The program is designed to:
✔ Encourage foreign direct investment in Australia’s economy.
✔ Boost innovation and entrepreneurship by attracting experienced business professionals.
✔ Create jobs and promote economic development.
✔ Offer a clear pathway to permanent residency for investors and entrepreneurs.
The BIIP falls under the Subclass 188 and Subclass 888 visas, with various streams catering to different investment and business interests.
2. BIIP Visa Categories and Streams
The BIIP is divided into four main visa streams under the Subclass 188 (Provisional) Visa, which can lead to Subclass 888 (Permanent Residency).
A. Business Innovation Stream (Subclass 188A)
✔ For experienced business owners looking to establish or expand a business in Australia.
✔ Requires a minimum net business and personal assets of AUD 1.25 million.
✔ Applicants must have an annual business turnover of at least AUD 750,000.
✔ Must establish or manage a qualifying business in Australia.
B. Investor Stream (Subclass 188B)
✔ For investors willing to commit AUD 2.5 million into a complying Australian investment.
✔ Investment must be spread across venture capital, managed funds, and other assets.
✔ Applicants must have at least three years of investment experience.
✔ Requires a minimum net worth of AUD 2.5 million.
C. Significant Investor Stream (Subclass 188C)
✔ Designed for high-net-worth individuals investing at least AUD 5 million in complying Australian investments.
✔ No points test, age limit, or business turnover requirement.
✔ Must hold investment for at least four years before transitioning to permanent residency.
D. Entrepreneur Stream (Subclass 188E)
✔ For individuals with a funded entrepreneurial venture in Australia.
✔ Requires funding of at least AUD 200,000 from an Australian government agency, venture capital firm, or university.
✔ The business must focus on commercializing innovative products, services, or technologies.
Permanent Residency – Subclass 888 Visa
✔ Successful Subclass 188 visa holders can apply for permanent residency under Subclass 888 after meeting business and investment criteria.
3. Eligibility Requirements for BIIP Visas
General Eligibility Criteria
Regardless of the visa stream, BIIP applicants must meet the following criteria:
✔ Be nominated by an Australian state or territory government.
✔ Meet the points test (for most visa streams).
✔ Have a genuine intention to manage and invest in an Australian business.
✔ Meet health and character requirements.
Each visa stream has additional specific investment and business criteria.
Points Test Requirements
The points test applies to Subclass 188A and 188B applicants. Points are awarded based on:
✔ Age
✔ Business experience
✔ Net assets
✔ Investment history
✔ English proficiency
✔ Business turnover
✔ Innovation and patents
A minimum of 65 points is required to qualify.
4. Step-by-Step BIIP Application Process
Step 1: Submit an Expression of Interest (EOI) through SkillSelect
✔ Applicants must lodge an Expression of Interest (EOI) via SkillSelect.
✔ Choose the state or territory where they intend to invest or do business.
✔ Wait for an invitation to apply from the Australian government.
Step 2: Obtain State or Territory Nomination
✔ Each Australian state or territory has specific nomination criteria.
✔ Submit a business proposal or investment plan to the nominated state or territory.
✔ If approved, the applicant receives a nomination for the BIIP visa.
Step 3: Lodge Subclass 188 Visa Application
✔ Submit the 188 visa application online via the Department of Home Affairs portal.
✔ Provide financial documents, business records, investment evidence, and personal information.
✔ Pay the required visa application fees.
Step 4: Receive a Decision and Meet Residency Requirements
✔ If the Subclass 188 visa is granted, the applicant must establish or invest in an Australian business.
✔ Maintain the investment and fulfill business management or investment conditions for the required period.
Step 5: Apply for Permanent Residency (Subclass 888 Visa)
✔ After meeting the investment or business operation criteria, apply for permanent residency via the Subclass 888 visa.
✔ If approved, the applicant becomes an Australian permanent resident.
5. Investment Requirements and Complying Investments
A. Business Investment Requirements
✔ For Subclass 188A (Business Innovation Stream) – Establish or operate a business generating significant economic benefit.
✔ For Subclass 188B and 188C (Investor & Significant Investor Streams) – Invest in compliant investment categories.
B. Complying Investment Framework
Investment funds must be allocated into:
✔ Venture Capital & Growth Private Equity – A minimum portion must go into startup ventures.
✔ Emerging Companies Funds – Investment in small-cap Australian Stock Exchange (ASX)-listed companies.
✔ Balancing Investment Funds – Investment in bonds, infrastructure projects, and commercial property.
6. Challenges and How to Overcome Them
A. Meeting the Investment Threshold
✔ Ensure financial planning is in place before applying.
✔ Work with financial advisors to structure eligible investment portfolios.
B. Securing State or Territory Nomination
✔ Research the specific investment priorities of Australian states and territories.
✔ Provide a strong business plan to increase nomination chances.
C. Long Processing Times
✔ The BIIP visa process can take 12-24 months.
✔ Work with immigration consultants to avoid application errors that could cause delays.
D. Adapting to the Australian Business Environment
✔ Familiarize yourself with Australian business regulations and taxation.
✔ Seek legal and financial advice to ensure compliance with business laws.
7. Alternative Business and Investment Visa Options
✔ Global Talent Visa (Subclass 858) – For highly skilled entrepreneurs and professionals.
✔ Employer-Sponsored Visas – For business owners looking to sponsor employees.
✔ Temporary Skill Shortage Visa (Subclass 482) – Allows business owners to bring foreign workers.
Conclusion
The Business Innovation and Investment Program (BIIP) offers a clear pathway to Australian residency for entrepreneurs and investors. Whether you want to establish a business, invest in Australian enterprises, or engage in venture capital funding, the BIIP provides multiple visa options.
By meeting eligibility criteria, making a strategic investment, and successfully operating in Australia, foreign investors can secure permanent residency and long-term business opportunities in one of the world’s most stable economies.
Adai 
Zara Adeyemi