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Business Innovation and Investment Program
Introduction
The Business Innovation and Investment Program is designed to increase entrepreneurial talent and diversify business expertise in Australia. It is positioned to target migrants that have a demonstrated history of success in innovation, investment and business and are able to make a significant contribution to the national innovation system and to the Australian economy.
Changes to the Business Innovation and Investment Program (BIIP) and the Complying Investment Framework (CIF) were introduced on 1 July 2021. These changes will support Australia's post-COVID-19 economic recovery. Details of changes to the Program are available in the Streamlining the BIIP summary.
As the first step of applying for a Subclass 188 visa under the Business Innovation and Investment program, you must submit an expression of interest ("EOI") in SkillSelect. If you are nominated by a state or territory, you will receive an invitation and only then could an application be made. If you receive an invitation subsequent to the submission of your EOI, further information on how to lodge an application will be provided in the letter of invitation. Once you receive an invitation, you are required to make an application within 60 days.
If you usually live in Taiwan or the People's Republic of China (including Hong Kong and Macau), you should provide your supporting documents within 28 days after you have lodged your online application.
Online lodgement for Business Innovation and Investment (Provisional) visa (subclass 188)
For applications made from 13 November 2021, you must lodge supporting documents for your Business Innovation and Investment visa online. In most circumstances we will no longer be accepting supporting documentation by mail. For all Business Innovation and Investment (Provisional) visa (subclass 188) applications from the People’s Republic of China, Macau SAR, Hong Kong SAR and Taiwan please ensure that supporting documents provided are those in the document checklist from the Australian Consulate General Hong Kong. Complete applications are processed more quickly and your application may be refused if it does not include the supporting information we require.
The Government is prioritising visa applications lodged by Hong Kong Passport holders (including Hong Kong SAR Passports and British National (Overseas) (BNO) passport holders), these applications are expected to be finalised well in advance of the published Global Visa Processing Times and applicants are advised to only lodge an application when ready to respond to requests for information and necessary checks to meet visa requirements.
For information about Business Innovation and Investment program, please refer to:
- https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-talent-permanent-132
(This visa is closed to new applications from 1 July 2021)
- https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-innovation-and-investment-188
Please refer to the following information on documentation requirements for applications processed by the Hong Kong Business Skills Processing Centre.
Documentation Guide
Guidelines on documentation requirements for applicants from the People's Republic of China.
Documentation Guide for Business Innovation and Investment Visa Applications from PRC residents (pdf)
Document Checklists
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For Subclass 188 - Significant Investor Visa Applications Document Checklist for Subclass 188 SIV (pdf, January 2022) |
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For Business Innovation and Investment Visa Applications from PRC residents Document Checklist for Subclass 132 (pdf) Document Checklist for Subclass 188 (pdf, January 2022) |
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For Business Innovation and Investment Visa Applications from Macau residents Document Checklist for Subclass 132 Document Checklist for Subclass 188 |
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For Business Innovation and Investment Visa Applications from Hong Kong residents Document Checklist for Subclass 132 (pdf) Document Checklist for Subclass 188 (pdf, January 2022) |
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For Business Innovation and Investment Visa Applications from Taiwan residents Document Checklist for Subclass 132 (pdf) Document Checklist for Subclass 188 (pdf, January 2022) |
Please note that the Visa Officer may also ask for other documents on a case by case basis, depending on the circumstances of the case.
If your application is lodged before 13 November 2021:
All documents should be sent by post or courier to:
Hong Kong Business Skills Processing Centre
Australian Consulate-General Hong Kong
23/F, Harbour Centre
25 Harbour Road
Wan Chai, Hong Kong
If your application is lodged on or after 13 November 2021:
You must lodge supporting documents for your visa application online through ImmiAccount. In most circumstances we will no longer be accepting supporting documentation by mail. For further information on attaching documents to an application, please refer to Attach documents to an application.
Please note that the Australian Visa Application Centre (AVAC) in Hong Kong reopened on 5 August 2020 to provide a document drop off service for the Business Innovation and Investment Program only (i.e. subclass 132 and subclass 188 visa applications). Business Innovation and Investment Program applicants also needing assistance with completing their visa application forms online can avail this service at the AVAC. For AVAC services fees apply. For more information, please visit: https://visa.vfsglobal.com/hkg/en/aus
Business Innovation and Investment Program exchange rates
(Australian Dollar)
Hong Kong Dollar
| Date/Year | 2019 | 2020 | 2021 | 2022 | 2023 |
| Mar 31 | 5.57 | 4.77 | 5.92 | 5.88 | 5.25 |
| Dec 31 | 5.45 | 5.94 | 5.66 | 5.29 |
Chinese Yuan Renminbi
| Date/Year | 2019 | 2020 | 2021 | 2022 | 2023 |
| Mar 31 | 4.76 | 4.37 | 5.00 | 4.78 | 4.61 |
| Dec 31 | 4.89 | 5.00 | 4.62 | 4.70 |
Taiwan Dollar
| Date/Year | 2019 | 2020 | 2021 | 2022 | 2023 |
| Mar 31 | 21.90 | 18.60 | 21.72 | 21.49 | 20.42 |
| Dec 31 | 21.04 | 21.55 | 20.09 | 20.87 |
For balance dates other than those specified above, we recommend that you consult the following website:
https://www.oanda.com/currency/converter
Page Last Updated: 11 April 2023