Current Status of the Australia Golden Visa
Australia's former Business Innovation and Investment Program (BIIP) is no longer open to new applicants. The Australian Department of Home Affairs states that BIIP closed permanently to new applications on 31 July 2024.
This page has been consolidated because older Australia Golden Visa guidance can be misleading if it still presents BIIP, investor streams, entrepreneur streams, or subclass 188-style application steps as current options.
Official source: Home Affairs - BIIP closure and refunds.
What Changed
Do not treat the old BIIP streams as available new-application pathways. The previous guide discussed investor and entrepreneur routes, investment thresholds, permanent residence steps, and tax outcomes; those details have been removed because they are not appropriate for a current new-applicant guide after the BIIP closure.
Applications lodged before the closure date are different from new applications. Home Affairs says applications made before 31 July 2024 will continue to be processed.
Current Official Route to Check
Australia now points innovation-focused applicants to official visa information rather than the closed BIIP program. The National Innovation visa is a separate, invitation-based pathway; Home Affairs says the Department must invite a person before they can apply.
Start with the official pages rather than older golden-visa summaries:
For Existing BIIP Applicants
If you already lodged a BIIP application before 31 July 2024, check the Home Affairs closure page for the latest processing, withdrawal, and refund instructions. Home Affairs says some Visa Application Charge refunds are available for eligible applicants who withdraw their BIIP application on or after 31 July 2024.
Because immigration status, withdrawal, and refund decisions can affect a person's position in Australia, use official instructions or qualified migration advice before acting.
Conclusion
Australia should not be presented as offering the old BIIP-style Golden Visa to new applicants. The accurate current position is that BIIP is closed to new applications, older applications continue under Home Affairs processing, and anyone considering Australian migration should start from current official Home Affairs sources.
