Business Innovation and Investment Program (BIIP) Closure Notice

The Australian Department of Home Affairs has announced that the Business Innovation and Investment Program (BIIP) officially closed on 31 July 2024.

This means that the following visa subclasses are no longer open for new applications:

• Subclass 132 – Business Talent visa
• Subclass 188 – Business Innovation and Investment (Provisional) visa (including the Business Innovation, Investor, Significant Investor, and Entrepreneur streams)
• Subclass 888 – Business Innovation and Investment (Permanent) visa

Important Notes for Existing or Withdrawn Applications：

• Applications lodged before 31 July 2024 will continue to be processed by the Department of Home Affairs;
• Applicants who withdrew their applications on or after 31 July 2024 may be eligible for a Visa Application Charge (VAC) refund;
• Refunds apply to the Business Innovation, Investor, Significant Investor, or Entrepreneur streams of the Subclass 188 visa.

Government’s Future Plan

The Australian Government is redesigning its business and innovation visa framework, with a new high-end business and innovation visa expected to launch during the 2025–2026 program year.

The new framework will focus on:

• Technological innovation and industrial advancement
• Sustainable investment and job creation
• Long-term economic contribution and national interest

Disclaimer：

This information is compiled based on the official announcements of the Australian Department of Home Affairs as of November 2025 and is intended for general reference only. Policies may change at any time. Please refer to the official Department of Home Affairs website for the most up-to-date information.

Please contact us for more information.