A major Asia-Pacific economy, English-speaking, common-law, with first-world infrastructure, world-class universities and a globally-mobile passport. Following the closure of the Business Innovation and Investment Programme (BIIP) to new applications in 2024, Australia's investor- and entrepreneur-residence routes are now consolidated around the National Innovation Visa and skilled-talent pathways.
Australia's investor and entrepreneur residence framework is in transition. The long-running Business Innovation and Investment Programme (BIIP — subclasses 188 and 888, including the Significant Investor Visa stream) was formally closed to new applications in July 2024 as part of the Migration Strategy reform. Existing applicants continue to be processed, and Ovata maintains capability to advise on the legacy BIIP pathways.
The successor route — the National Innovation Visa (subclass 858) — replaces the former Global Talent Visa and is positioned as Australia's headline pathway for exceptional talent, entrepreneurs and investors of recognised stature in their field. The route is not a pure investment programme: applicants must demonstrate internationally recognised achievement and an Australian endorsement. For investors specifically, eligibility centres on a track record of successful investment activity rather than a fixed capital threshold.
Alongside the National Innovation Visa, the skilled-migration pathways (subclass 189 Skilled Independent, subclass 190 Skilled Nominated, subclass 491 Regional, and employer-sponsored streams under subclass 482 and 186) remain the most-used routes for qualified professionals. For high-net-worth families whose principal is also a senior professional, the skilled routes are often more accessible than the National Innovation Visa.
Australia's strategic case is the depth of the economy, the strength of the institutional framework, the universities, the lifestyle, and the four-year path to citizenship via permanent residence. The headwinds are the cost (Sydney and Melbourne remain among the more expensive global cities), the closure of dedicated investor routes, and high tax rates relative to several competing destinations.
Australia taxes residents on worldwide income. The marginal personal income tax rate at the top bracket exceeds 45% (plus 2% Medicare levy) — materially higher than several competing destinations. There is no general wealth tax and no inheritance or estate tax, but Australia has a comprehensive capital gains tax regime and applies CGT to most assets held by residents, with concessional rules for long-held assets.
The "temporary resident" tax concessions (broadly, for the holder of a temporary visa whose spouse is also a temporary resident) can substantially reduce the Australian tax exposure for non-PR migrants during the temporary-visa period. These rules are technical, and the interaction between the visa type (temporary vs permanent), the family's existing tax residence and any Australian-sourced income requires named Australian tax counsel from the outset.
This is orientation, not advice. The Australian tax position is not benign by international standards, and good structuring before arrival is materially more valuable than corrective work afterwards.
The dedicated Business Innovation and Investment Programme (BIIP) was closed to new applications in July 2024. For investors going forward, the principal route is the National Innovation Visa, which is achievement-based rather than capital-threshold-based. Ovata briefs principals on the current routes at the initial consultation.
Four years of lawful residence in Australia, including at least 12 months as a permanent resident. Citizenship requires good character, basic English, an understanding of Australia and an intention to live in or maintain close ties with Australia.
Yes. Australia permits dual citizenship.
The SIV (subclass 188C) was a stream within the BIIP and was closed alongside the rest of the BIIP in July 2024. Applications lodged before the closure date continue to be processed. There is no successor SIV in the current framework.
The closure of the dedicated investor routes has changed the conversation. A short call is the best way to identify the right pathway for your family.