Australia · residence by investment (golden visa)
Australia Significant Investor stream, Business Innovation and Investment Program (residence not citizenship)
Closed as of 31 July 2024
Residence route, not citizenship. The Business Innovation and Investment Program, including the Significant Investor stream, permanently closed to new applications on 31 July 2024. Applications lodged before that date continue to be processed. The Significant Investor Extension stream stays open to eligible current holders.
Rules
Legal basis
Migration Amendment (Business Innovation and Investment Program Closure) Regulations 2024
Due diligence
Not applicable, route closed.
Residence requirement
Subclass 188 holders who meet the criteria can still progress to the subclass 888 visa with state nomination, according to the Victorian Government.
Programme history
- The Victorian Government published guidance that Significant Investor stream applicants who withdrew on or after 31 July 2024 may be eligible for a refund.1
- The Business Innovation and Investment Program permanently closed to new applications.1,2
- The Migration Amendment (Business Innovation and Investment Program Closure) Regulations 2024 were registered, requiring subclass 188 applications in the closing streams to be lodged before 31 July 2024.2
Sources
- Victorian Government, Live in Melbourne, BIIP closure and refunds, Department of Home Affairs (3 October 2024) · official
- Federal Register of Legislation, Australian Government, Explanatory statement, Migration Amendment (Business Innovation and Investment Program Closure) Regulations 2024 (F2024L00900) (18 July 2024) · official
Figures are the minimums and fees stated by the programme or its regulations on the date shown. Agents' fees and other costs are extra. This is not investment or immigration advice.