188 Business Innovation and Investment (Provisional) (subclass 188) visa – Significant Investor Extension stream

At a Glance

Item	Details
Visa name	Subclass 188 Significant Investor Extension
Visa type	Provisional
Stay	Up to 6–9 years total
Cost	From AUD1,505
Eligibility timing	Original visa held at least 3 years
Work rights	Work in Australia
Study	Study in Australia
Medicare	Not stated in the source
Health insurance	Recommended; healthcare costs personally liable
Travel facility	Multiple entry while valid
Permanent residence	May apply for subclass 888
Citizenship	Not stated in the source
Family sponsorship	Eligible family may be included
Visa record	Digital visa linked to passport
Application location	In or outside Australia
Nomination	State, Territory, or Austrade
Investment requirement	Maintain complying significant investment

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Purpose

The Significant Investor Extension stream lets eligible holders of a subclass 188 Significant Investor visa extend their provisional stay while meeting requirements for the permanent subclass 888 Significant Investor stream.

You may be granted a maximum of two Significant Investor Extension stream visas.

Eligibility

You must:

• Hold a subclass 188 visa in the Significant Investor stream for at least 3 years; or
• Hold a subclass 188 visa in the Significant Investor Extension stream, and have held no more than one such extension visa.
• Be nominated by a State or Territory government agency or Austrade.
• Continue to hold a complying significant investment under the framework applying when you first applied for your provisional Significant Investor visa.
• Have no history, with your partner, of business or investment activities not generally acceptable in Australia.
• Meet health and character requirements.
• Sign the Australian Values Statement if aged 18 or over.
• Have repaid Australian Government debts, or have an approved repayment arrangement.
• Meet functional English requirements or, if required, pay the second visa application charge.
• Have an immigration history that does not prevent grant.

Stay

The visa is valid from grant date. Total stay is measured from the grant date of your original subclass 188 Significant Investor visa.

Original invitation and visa held at application	Maximum total stay
Significant Investor; invited before 1 July 2021	6 years
Significant Investor; invited on/after 1 July 2021	7 years
Extension stream; invited before 1 July 2021	8 years
Extension stream; invited on/after 1 July 2021	9 years

You must apply for another visa to remain in Australia after this visa ends.

Cost

• Main applicant: from AUD1,505.
• Additional charges apply for each family member.
• Health examinations, police certificates and biometrics may incur extra costs.
• A second instalment may be payable for applicants aged 18 or over without functional English who did not previously pay it:
  • Main applicant: AUD9,795
  • Family member: AUD4,890

Do not pay a second instalment unless requested. It is refunded if the visa is not granted to that applicant.

Pacific Island and Timor-Leste concession

From 1 July 2026, a lower visa application charge applies to eligible applicants holding valid passports from:

• Federated States of Micronesia
• Fiji
• Kiribati
• Nauru
• Palau
• Papua New Guinea
• Republic of the Marshall Islands
• Samoa
• Solomon Islands
• Timor-Leste
• Tonga
• Tuvalu
• Vanuatu

The concession also applies to family members based on the primary applicant's eligible passport.

Rights

With this visa, you can:

• Stay in Australia while the visa remains valid.
• Undertake investment activity.
• Work and study in Australia.
• Travel to and from Australia any number of times while valid.
• Include eligible family members.
• Attend free Adult Migrant English Program classes, if eligible.
• Apply for permanent residence through the subclass 888 Significant Investor stream, if eligible.

Investment Obligations

You must hold a complying significant investment continuously for the life of your provisional visa.

You may switch investments only where withdrawn funds are reinvested in complying significant investments within 30 days. The amount reinvested must equal the amount withdrawn, regardless of market gains or losses.

Additional rules apply:

• Funds withdrawn from venture capital or emerging company investments must be reinvested in venture capital or emerging companies.
• Funds withdrawn from balancing investments may be reinvested in balancing investments, venture capital, or emerging companies.
• Venture capital funds withdrawn after realisation may be reinvested in any eligible complying significant investment.
• Investment income earned in Australia may be taxable.

The investment rules in force when you applied for your first subclass 188 Significant Investor visa continue to apply, including for extension visas.

Residence Requirement for Permanent Visa

For potential eligibility for the subclass 888 Significant Investor stream, either:

• You must live in Australia for at least 40 days each year during the provisional visa period; or
• Your spouse must live in Australia for at least 180 days each year during that period.

These days do not need to be consecutive.

Family Provisions

You can include family unit members when applying and add dependent children before a decision is made.

All applying family members must meet health and character requirements. Non-accompanying family members must meet character requirements and may need to meet health requirements.

After grant, eligible family members who want the same visa must apply separately online as subsequent entrants.

Dependent children

A child over 18 must be:

• Under 23 and dependent on you or your partner; or
• Aged 23 or over, unable to support themselves because of physical or cognitive limitations, and dependent.

A child who turns 18 or 23 during processing must still meet the relevant dependency requirements.

Required Documents

Provide clear colour scans or photographs of all documents.

Identity

For each applicant:

• Current passport identity pages.
• National identity card, if available.
• Name-change evidence, if applicable.

Investment evidence

Provide recent holding statements showing investor name, amount and commencement date.

For managed fund investments, provide a recently completed and signed Form 1413D for each fund.

If your original subclass 188 application was before 1 July 2015, evidence may also include government bond statements, managed-fund holding statements, or Australian company investment evidence.

For an Australian proprietary company investment, provide:

• Evidence it traded for profit by supplying public goods or services.
• Evidence it was not a passive or speculative investment.
• A recent ASIC historical company extract.
• Recent audited accounts, including profit and loss, balance sheet and notes.

English evidence

Applicants aged 18 or over who did not previously pay the second instalment must provide functional English evidence or a statement of intention to pay the required second instalment.

Character documents

Applicants aged 16 or over must provide:

• Form 80.
• Police certificates from every country where they lived for 12 months or more during the last 10 years since turning 16.
• Military service or discharge records, if applicable.

Family documents

Depending on the applicant, provide:

• Marriage certificate or de facto relationship evidence.
• Birth certificates, family book, or adoption records for children.
• Child custody consent using Form 1229, a statutory declaration, court order, or relevant home-country law evidence.
• For dependent adult children, Form 47a, financial dependency evidence, and medical evidence where required.

Health, Character and Insurance

Do not arrange health examinations until requested. Health examination results are generally valid for 12 months.

You may be asked to provide biometrics.

Health insurance is recommended. You are personally liable for healthcare costs in Australia. Reciprocal healthcare arrangements may apply for some countries.

How to Apply

Apply online through ImmiAccount.

1. Ensure passports are current.
2. Gather identity, investment, character, English and family documents.
3. Translate all non-English documents into English.
4. Create or sign in to ImmiAccount.
5. Complete the online application.
6. Pay the correct visa application charge.
7. Record the transaction reference number.
8. Upload all supporting documents when lodging.

The Department may decide the application without requesting further documents. Upload missing information as soon as possible.

After Applying

• You may be in or outside Australia when applying and when the decision is made, but not in immigration clearance.
• If in Australia, remain lawful by holding a valid visa.
• A Bridging Visa A may start if your current visa expires while the application is pending.
• A Bridging Visa A ceases if you leave Australia; obtain a Bridging Visa B or other visa before returning.
• Do not cancel your current visa, as this may leave you unlawful and ineligible for a Bridging Visa A.
• Tell the Department about changes to contact details, passport, relationship status, a child's birth, or withdrawal of the application.
• Use Form 1023 to report incorrect answers.
• The Department will notify you in writing of the decision.

Travel and Visa Record

This visa has multiple entry. Travel outside Australia does not extend the visa period.

Australian visas are digital and linked to your passport. No visa label is placed in your passport.

Use VEVO to check visa conditions and entitlements.

Important Warnings

• You and family members must comply with all visa conditions and Australian laws.
• If operating a business in Australia, comply with Australian workplace laws.
• Give true and accurate information and prove your identity.
• Non-English documents must be translated and submitted with originals.
• The source includes a later reference to travel, entry and remaining in Australia “for up to 2 years,” which conflicts with the detailed 6–9 year stay rules above.