The Business Innovation and Investment Program (BIIP) closed permanently to new applications on 31 July 2024. Applications made before this date will continue to be processed. This is done in line with Government priorities and the
Migration Program planning levels.
The Government has reduced the number of visas that can be granted for the BIIP from 1,900 in 2023–24 to 1,000 in the 2024–25 permanent Migration Program.
The Department expects average processing times to increase.
Refunds of the Business Innovation and Investment (subclass 188) Visa Application Charge (VAC) are available for applicants who withdraw their application on or after 31 July 2024.
These refunds are only available for applications for the Business Innovation, Investor, Significant Investor or Entrepreneur streams.
These refunds are not available to applicants for the Business Innovation extension or Significant Investor extensions streams.
Refunds are also available for the Business Talent (subclass 132) VAC for Significant Business History or Venture Capital Entrepreneur stream applicants who withdraw their application on or after 31 July 2024.
Other refund provisions may apply, for more details visit
Getting a refund.
If you are in Australia, the withdrawal of your visa application may impact your visa status.
For more information, visit
You want to withdraw your application.
To withdraw your BIIP application you can do so through
ImmiAccount. Once you have received a formal notification of your withdrawal you can then request a refund of the VAC by following these steps:
- Login to your
ImmiAccount.
- From the 'My Payments' drop-down tab, select 'Manage Payments'. If the payment status of your VAC 'Credit' or ‘Paid’ a refund can be requested.
- From the actions menu, select the 'Request Refund' option. A new screen will display that allows you to begin your refund request.
- From the drop down menu of reasons, choose ‘Voluntary withdrawal of BIIP application’.
Refund timeframes
There is no standard time frame for processing a refund request. We will assess each refund request individually under the relevant legal authority or administrative rules.
To view the previous news article on the closure of the BIIP visit
Business Innovation and Investment Program (BIIP).
