Australia National Innovation Visa: The 2026 Guide for Investors

Not in the sense most investors mean. Between 2012 and 2024 the Significant Investor visa (SIV) was the closest thing to an Australia golden visa. You made a "complying significant investment" of at least A$5 million, held it for the life of a provisional subclass 188 visa, and then moved to permanent residence on a subclass 888 visa.^[8] The SIV was closed together with the rest of the BIIP on 31 July 2024.^[7]

The National Innovation visa took its place in December 2024 as an invitation-only permanent visa for "exceptionally talented migrants". It replaced the Global Talent Independent program and absorbed the government's interest in investors and entrepreneurs.^[2][21] Home Affairs names four target groups: global researchers, entrepreneurs, innovative investors, and athletes and creatives.^[2] Money is relevant only as evidence of achievement. Home Affairs looks for "innovative investment activity with an established track record of supporting successful innovative ventures", and it considers this mainly alongside a nomination from a government agency.^[3]

In practice, then, there is no residence-by-investment product to buy. A wealthy applicant with no investing or business record in innovation will not qualify, however large the cheque. If you want a true investment route in the region, see our guides to New Zealand's Active Investor Plus visa and Singapore's investor programme. The overview of closed golden visa programs puts Australia's closure in context.

The NIV is subclass 858 in visa class BX under the Migration Regulations 1994. The Department of Home Affairs runs it. It is a permanent visa from day one: you become a permanent resident on the day it is granted, and you get a five-year travel facility.^[1]

Three layers decide who gets in:

• Expression of Interest (EOI). You cannot apply until Home Affairs invites you. An EOI stays active for two years, and an invitation must be acted on within 60 days.^[2]
• Ministerial Direction No. 120. This sets the priority order for invitations and processing, and the "indicators" of exceptional achievement that decision-makers use.^[3] It replaced Direction No. 112 and now covers all class BX cases, including legacy Global Talent and Distinguished Talent applications.^[17]
• Annual planning levels. The government sets the number of places each financial year. For 2026–27 the Talent and Innovation category has 3,500 places.^[10]

State and territory governments play a large practical role. A nomination on Form 1000 from an "expert" Commonwealth, state or territory agency puts a candidate in Priority 2, ahead of every sector-based candidate.^[3] For investors, that state nomination is the realistic way in, which is why the NIV is commonly described as "nomination-based".

The Business Innovation and Investment Program had four main provisional streams (Business Innovation, Investor, Significant Investor and Entrepreneur) leading to the permanent subclass 888. Home Affairs closed the program permanently on 31 July 2024.^[7] Applicants who withdraw a pending subclass 188 application in the Business Innovation, Investor, Significant Investor or Entrepreneur streams can claim back the visa application charge. The same applies to Business Talent (subclass 132) applications. The extension streams are excluded from refunds.^[7]

Existing holders are not stranded. A subclass 188 Significant Investor holder can still apply for the subclass 888 if they held the A$5 million complying investment for the whole time they held the 188, held the 188 long enough (at least 3 years if invited on or after 1 July 2021, or a continuous 4 years for earlier invitations) and meet the stay test. The stay test is at least 40 days a year in Australia for the main holder, or 180 days a year for the holder's partner.^[9] The old SIV portfolio had to include at least A$1 million in venture capital and growth private equity, at least A$1.5 million in approved emerging-company managed funds, and a A$2.5 million "balancing investment".^[8]

The government's 2026–27 planning levels keep just 20 places for Business Innovation and Investment visas. This signals that the backlog is almost cleared and the category will not return.^[10] Home Affairs' latest data shows a median of about 4 months (90% within 8 months) for 888 Significant Investor decisions, and about 5 months (90% within 6 months) for the 888 Investor stream.^[11]

No. The "complying investment framework" of approved venture capital, emerging-company and balancing funds belonged to the SIV and the Premium Investor visa, and it closed with them.^[7][8] The NIV contains no fund route. Queensland does say that the A$5 million it expects from nominated innovative investors can go through private equity, venture capital, research and development, asset managers or co-investments such as Queensland Investment Corporation ventures.^[13] That is a state guideline for choosing whom to nominate. It is not a visa criterion, and putting money into a fund does not by itself earn an invitation.

Australia golden visa requirements 2026: the legal criteria

Every NIV applicant must meet the legal criteria on the Home Affairs visa page.^[1]

• Invitation: lodge within 60 days of an invitation issued on your EOI.
• Nomination: a Form 1000 signed by a nominator with a national reputation in your field. The nominator can be an Australian citizen, a permanent resident, an eligible New Zealand citizen or an Australian organisation.
• Exceptional record: an internationally recognised record of exceptional and outstanding achievement in a profession, a sport, the arts, or academia and research. You must still be prominent in the field.
• Asset to Australia: your contribution may be economic, social or cultural. You must also show you could find work or become independently established in your field without difficulty.
• Age: there is no age limit. Applicants under 18 or aged 55 and over must be of "exceptional benefit" to Australia, for example by creating jobs for a large number of Australians.
• English: applicants aged 18+ need functional English, or must pay a second instalment of A$4,890 each.
• Health, character and debts: you and your family must meet health and character requirements and have no unpaid debts to the Australian government. Adults must sign the Australian Values Statement.

How an investor shows "exceptional achievement"

Direction 120 lists the indicators Home Affairs uses: top-of-field international awards, national research grants, a PhD with high academic influence, keynote appearances, international patents, and earnings at or above the Fair Work high income threshold.^[3] For investors, the relevant indicator is "evidence of innovative investment activity with an established track record of supporting successful innovative ventures". Home Affairs lists it among the indicators considered together with a nomination from an expert government agency.^[3] Two law firms put the high income threshold at A$190,100 from 1 July 2026, up from A$183,100; the Fair Work website could not be checked, so confirm the figure there before relying on it.^[19][30]

What the states expect from investors

Queensland wants "actively involved innovative investors" with a record of leading groundbreaking ventures who are ready to invest at least A$5 million for two or more years in its innovation ecosystem. They must provide evidence of the funds, a track record, and an investment deployment plan. For entrepreneurs the guideline is a minimum A$1 million. Queensland's registrations for 2025–26 are closed and will reopen for the 2026–27 program at a date not yet announced.^[13]

New South Wales publishes no dollar threshold. It asks for a history of substantial angel investment, active mentoring of founders, co-investment with reputable funds, standing in the angel and venture community, founder endorsements and a plan to deploy capital in NSW.^[14] NSW charges no fee for a Registration of Interest or nomination. An ROI is considered for six months, invited candidates have 21 days to apply, and NSW expects you to have existing ties to the state.^[15] Victoria and South Australia have also published NIV nomination frameworks, but neither has a published investor dollar minimum.^[20]

You can include "members of the family unit" in the application: your spouse or de facto partner and dependent children. A child aged 18 to 22 must be dependent on you, and a child aged 23 or over qualifies only if dependent on you because of a disability. You can add family members at any point before a decision.^[1] Each pays an additional applicant charge: A$3,120 if aged 18 or over, A$1,560 if under 18.^[6] Every family member who applies must meet the health and character rules, and so must family members who are not migrating. If you leave a partner or dependent child out, Home Affairs asks why.^[1]

Each adult without functional English adds a possible A$4,890 second instalment.^[1] All family members granted the visa become permanent residents at the same time as you. They can work, study, enrol in Medicare and later apply for citizenship in their own right.^[1] Children under 16 do not need to meet the general residence requirement for citizenship, provided they are permanent residents.^[12]

For an investor, the realistic sequence runs through a state nomination first, then the federal EOI and visa.

Home Affairs publishes quarterly EOI and invitation counts, and they show how selective the program is. In April–June 2026 it received 2,166 EOIs and issued 248 invitations. Fewer than 20 went to Priority 2 (government-nominated) candidates, 192 to Tier One sectors and 38 to Tier Two sectors.^[4] In January–March 2026 it received 1,815 EOIs and issued 146 invitations, 15 of them in Priority 2. In October–December 2025 the figures were 2,368 EOIs and 226 invitations.^[5]

Investors do not appear as a separate category. They fall within the small Priority 2 group and the "Financial Services and FinTech" sector, which received 14 invitations in April–June 2026.^[4] Roughly 1 EOI in 9 to 12 led to an invitation in the last three quarters. Priority 2 invitations, the only realistic door for most investors, were under 1% of EOIs received in each of the last two quarters.^[4][5]

A permanent resident who lives in Australia is normally an Australian tax resident and is taxed on worldwide income. The concession that shields most foreign income of "temporary residents" does not apply to permanent visa holders, so NIV holders get no transitional break on foreign income. Take advice before you land.

For 2026–27, resident rates are 0% up to A$18,200, 15% to A$45,000, 30% to A$135,000, 37% to A$190,000 and 45% above that, plus a 2% Medicare levy.^[22] Australia has no wealth tax and no inheritance or estate tax. Capital gains tax does apply to worldwide assets once you are resident, and assets you already own are generally treated as acquired at market value when you become resident. Individuals generally get a 50% discount on gains on assets held for more than 12 months.

Property is restricted for non-residents. Foreign persons are generally barred from buying established dwellings from 1 April 2025 to 30 June 2029, with limited exceptions.^[16] Once you are a permanent resident living in Australia, you generally fall outside the "foreign person" definition. Check your position with a lawyer before you sign.

Australia golden visa path to citizenship: the four-year rule

The NIV is permanent from day one, so the clock for citizenship starts at grant if you are in Australia, or at first entry if you are offshore.^[1] To apply for citizenship by conferral you must have:^[12]

• lived in Australia on a valid visa for 4 years immediately before applying
• held a permanent visa for the last 12 months of that period
• been absent for no more than 12 months in total in those 4 years, and no more than 90 days in the final 12 months
• passed the citizenship test, with 75% or more overall and all 5 questions on Australian values correct
• paid the A$285 fee (adults aged 18–59) and met the character requirement.

An NIV holder who moves to Australia straight after grant can therefore apply after about four years. Australia allows dual citizenship, but check whether your current country does. The residence test is real: an investor who stays mostly abroad will not qualify. After five years such an investor would also need a Resident Return visa to keep re-entering as a permanent resident.^[1] For a ranking of residence routes by speed to a passport, see golden visas with the fastest citizenship.

• 1 July 2021: the Premium Investor stream and the Business Talent (132) visa closed to new applications.^[28]
• 31 July 2024: the BIIP (including the SIV) closed permanently to new applications. Pending subclass 188 and 132 applications withdrawn from that date can get a refund of the visa application charge.^[7]
• December 2024: the NIV replaced the Global Talent Independent program.^[21]
• 22 March 2025: the Business Owner (890) visa closed to new applications.^[24]
• 2025: NSW, Victoria and South Australia published NIV nomination frameworks, and Queensland followed with dollar guidelines for investors and entrepreneurs.^[20][13]
• 12 May 2026: the 2026–27 planning levels cut Talent and Innovation to 3,500 places, with 20 for legacy BIIP.^[10]
• 1 July 2026: the main-applicant charge rose to A$6,235, and a concession was introduced for Pacific Island and Timor-Leste citizens.^[1][6]
• 25 July 2026: Ministerial Direction 120 replaced Direction 112 and now covers all class BX visas. The priority order is unchanged: the four named priorities, then all other applications.^[3][17][29] One firm gives the start date as 24 July 2026.^[18]

What to watch: the reopening of state intakes for 2026–27 (Queensland has not set a date), the next quarterly invitation data, and any separate NIV processing standard. No reintroduction of a passive investor visa has been announced.

Suits: active angel or venture investors with documented exits or portfolio companies. It also suits founders with a venture ready to scale in Australia, and executives or researchers in critical technology, renewables, health, fintech or resources who also have capital to deploy. If you can win a state nomination and genuinely intend to live in Australia, the NIV gives you permanent residence and citizenship within about four years for a few thousand dollars in fees.

Look elsewhere: anyone seeking a passive "invest and wait" visa, a Plan B residence with little time on the ground, or certainty of outcome. For those goals, programs with a published threshold and objective criteria work better. Examples are New Zealand's investor visa, the US EB-5 green card or the UAE golden visa.

• New Zealand Active Investor Plus: the nearest true investor visa, with published investment tiers (figures commonly quoted: NZ$5 million Growth, NZ$10 million Balanced). It also leads towards New Zealand citizenship through residence.
• Singapore Global Investor Programme: permanent residence for business owners and family offices at far higher thresholds.
• Hong Kong's capital investment scheme: a passive financial-asset route at HK$30 million.
• Canada's Québec investor program: a contribution-based route to Canadian permanent residence.
• EB-5 green card from US$800,000, or the Trump Gold Card at US$1 million.
• Malaysia's residence programme and the UAE 10-year visa for lower-cost bases with light presence rules.

For side-by-side numbers, start with the lowest-cost residence programs, the golden visa hub and our explainer on citizenship by investment versus residence by investment.