The investment programme closed on 31 July 2024, and what replaced it is not an investment visa
Answer
The general rule applies to you
No exception is recorded for citizens of New Zealand on this topic. That is the answer, not a gap - everything below is the rule you get, unchanged.
195 exceptions recorded across 74 countries · none match New Zealand to Australia · Residency through investment
Every entry stream of the Business Innovation and Investment (Provisional) visa, Subclass 188, requires in terms that the application be made before 31 July 2024. That applies to the Business Innovation stream, the Investor stream, the Significant Investor stream and the Entrepreneur stream alike, and each of them also required an invitation from the Minister and a nomination by a State or Territory government agency, or in the Significant Investor case by the CEO of Austrade. Only the extension streams remain open, and they are reachable solely by people already holding the visa. The class that took the programme's place is the National Innovation visa, Subclass 858, and it is not an investment visa at all: the criterion is an internationally recognised record of exceptional and outstanding achievement in a profession, a sport, the arts, or academia and research, attested on an approved form by someone with a national reputation in the field.
At a glance
- Date the investment programme closed
- 31 July 2024, for every entry stream of Subclass 188
Item 4 of the requirements tables in subitems 1202B(4), (6), (6A) and (6D) of Schedule 1 to the Migration Regulations 1994 reads: The applicant must make the application before 31July 2024.
- Open route based on investing money
- None: the only investment class in Schedule 1 to the Migration Regulations 1994 is Business Skills (Provisional) (Class EB), and each of its entry streams requires the application to have been made before 31 July 2024
The extension streams of Subclass 188 remain available only to people who already hold the visa.
- First instalment charge that applied to the Significant Investor stream
- $18,335 base application charge for an applicant not holding a Pacific-regional country passport
Subitem 1202B(2)(a)(iv) of Schedule 1 to the Migration Regulations 1994. The charge remains in the text because extension-stream applications are still made.
Requirements
- For Subclass 188, an application made before 31 July 2024, which no new applicant can now satisfy
- For Subclass 858, an invitation in writing from the Minister
- For Subclass 858, an internationally recognised record of exceptional and outstanding achievement in a profession, a sport, the arts, or academia and research, and continued prominence in that area
- For Subclass 858, a completed approved form 1000 attested by an Australian citizen, Australian permanent resident, eligible New Zealand citizen or Australian organisation with a national reputation in the area
What applies to you
Nothing changes for a citizen of New Zealand
We have no rule recorded that treats your citizenship differently here, so the general rule above is the one that applies to you. That is an answer, not a gap.
What the law says
«| 3 | The applicant must be nominated by a State or Territory government agency | | 4 | The applicant must make the application before 31July 2024 |»The same two requirements close the Business Innovation stream in subitem (4) and the Entrepreneur stream in subitem (6D); the Significant Investor stream in subitem (6A) allows nomination by a State or Territory government agency or the CEO of Austrade.
Read it at the sourceAbout this source
The Commonwealth of Australia's statute book, run by the Office of Parliamentary Counsel under the Legislation Act 2003. It carries every Act, legislative instrument and notifiable instrument of the Commonwealth, each as made and as compiled, and it is the only publisher in this corpus whose own enabling Act gives its text a standing in court: section 15ZB of the Legislation Act 2003 says proof is not required in a court or tribunal of the text of a registered law, and section 15ZA presumes an authorised version of a registered compilation correctly shows the law as in force on the compilation date. Addressing is by register identifier rather than by name - C1958A00062 is the Migration Act 1958, F1996B03551 the Migration Regulations 1994 - and /latest/text serves the current compilation. Every compilation page prints its compilation number, its compilation date and the last amending Act or instrument taken into account.
Standing: Maintains the text in force
Cannot be cited for: Three things, each of which has already bitten. First, an unknown identifier does not 404: the site serves its own home page, so a wrong guess looks like a short page of search boxes rather than an error, and an absence inferred from one would be invented. Second, a long instrument is served in volumes and /latest/text gives volume 1 only - the Migration Regulations 1994 run to four volumes and Schedule 2, where every visa subclass actually lives, is in volumes 2 and 3 at a separate address. Third, and most important, nothing in the HTML served at /latest/text claims to be an authorised version. Section 15ZA makes an electronic copy one only if it is downloaded from an approved website in a format prescribed by the rules and either the site or the copy says so in the way the rules prescribe; the Act's own example of such a format is a locked pdf file. The words authorised version do not occur anywhere in any of the readings stored from this publisher except in the Legislation Act 2003 itself, so what we quote is the register's text without the status the register is able to give it. The presumption in section 15ZA(5)(h) is also expressly subject to section 15Q(4), under which a compilation need not take account of a retrospective commencement, so a compilation can be accurate on its face and behind the law. It is not a source for the Immigration Rules equivalent - departmental policy and procedural advice are published by Home Affairs, not here - nor for any state or territory law, which has its own register, nor for the text of a treaty, which is published in the Australian Treaty Series.
We re-read it every 90 days. More about this source
«| 3 | The applicant must be nominated by a State or Territory government agency or the CEO of Austrade | | 4 | The applicant must make the application before 31July 2024 |»About this source
The Commonwealth of Australia's statute book, run by the Office of Parliamentary Counsel under the Legislation Act 2003. It carries every Act, legislative instrument and notifiable instrument of the Commonwealth, each as made and as compiled, and it is the only publisher in this corpus whose own enabling Act gives its text a standing in court: section 15ZB of the Legislation Act 2003 says proof is not required in a court or tribunal of the text of a registered law, and section 15ZA presumes an authorised version of a registered compilation correctly shows the law as in force on the compilation date. Addressing is by register identifier rather than by name - C1958A00062 is the Migration Act 1958, F1996B03551 the Migration Regulations 1994 - and /latest/text serves the current compilation. Every compilation page prints its compilation number, its compilation date and the last amending Act or instrument taken into account.
Standing: Maintains the text in force
Cannot be cited for: Three things, each of which has already bitten. First, an unknown identifier does not 404: the site serves its own home page, so a wrong guess looks like a short page of search boxes rather than an error, and an absence inferred from one would be invented. Second, a long instrument is served in volumes and /latest/text gives volume 1 only - the Migration Regulations 1994 run to four volumes and Schedule 2, where every visa subclass actually lives, is in volumes 2 and 3 at a separate address. Third, and most important, nothing in the HTML served at /latest/text claims to be an authorised version. Section 15ZA makes an electronic copy one only if it is downloaded from an approved website in a format prescribed by the rules and either the site or the copy says so in the way the rules prescribe; the Act's own example of such a format is a locked pdf file. The words authorised version do not occur anywhere in any of the readings stored from this publisher except in the Legislation Act 2003 itself, so what we quote is the register's text without the status the register is able to give it. The presumption in section 15ZA(5)(h) is also expressly subject to section 15Q(4), under which a compilation need not take account of a retrospective commencement, so a compilation can be accurate on its face and behind the law. It is not a source for the Immigration Rules equivalent - departmental policy and procedural advice are published by Home Affairs, not here - nor for any state or territory law, which has its own register, nor for the text of a treaty, which is published in the Australian Treaty Series.
We re-read it every 90 days. More about this source
«(2)The applicant: (a)has an internationally recognised record of exceptional and outstanding achievement in one of the following areas: (i)a profession; (ii)a sport; (iii)the arts; (iv)academia and research; and (b)is still prominent in the area; and (c)would be an asset to the Australian community; and (d)would have no difficulty in obtaining employment, or in becoming established independently, in Australia in the area;»Nothing in the clause mentions capital, investment or a business.
Read it at the sourceAbout this source
The Commonwealth of Australia's statute book, run by the Office of Parliamentary Counsel under the Legislation Act 2003. It carries every Act, legislative instrument and notifiable instrument of the Commonwealth, each as made and as compiled, and it is the only publisher in this corpus whose own enabling Act gives its text a standing in court: section 15ZB of the Legislation Act 2003 says proof is not required in a court or tribunal of the text of a registered law, and section 15ZA presumes an authorised version of a registered compilation correctly shows the law as in force on the compilation date. Addressing is by register identifier rather than by name - C1958A00062 is the Migration Act 1958, F1996B03551 the Migration Regulations 1994 - and /latest/text serves the current compilation. Every compilation page prints its compilation number, its compilation date and the last amending Act or instrument taken into account.
Standing: Maintains the text in force
Cannot be cited for: Three things, each of which has already bitten. First, an unknown identifier does not 404: the site serves its own home page, so a wrong guess looks like a short page of search boxes rather than an error, and an absence inferred from one would be invented. Second, a long instrument is served in volumes and /latest/text gives volume 1 only - the Migration Regulations 1994 run to four volumes and Schedule 2, where every visa subclass actually lives, is in volumes 2 and 3 at a separate address. Third, and most important, nothing in the HTML served at /latest/text claims to be an authorised version. Section 15ZA makes an electronic copy one only if it is downloaded from an approved website in a format prescribed by the rules and either the site or the copy says so in the way the rules prescribe; the Act's own example of such a format is a locked pdf file. The words authorised version do not occur anywhere in any of the readings stored from this publisher except in the Legislation Act 2003 itself, so what we quote is the register's text without the status the register is able to give it. The presumption in section 15ZA(5)(h) is also expressly subject to section 15Q(4), under which a compilation need not take account of a retrospective commencement, so a compilation can be accurate on its face and behind the law. It is not a source for the Immigration Rules equivalent - departmental policy and procedural advice are published by Home Affairs, not here - nor for any state or territory law, which has its own register, nor for the text of a treaty, which is published in the Australian Treaty Series.
We re-read it every 90 days. More about this source
«Note:An approved form 1000 requires the applicant's record of achievement in an area (as mentioned in paragraph(a)) to be attested to by: (a)an Australian citizen; or (b)an Australian permanent resident; or (c)an eligible New Zealand citizen; or (d)an Australian organisation; who has a national reputation in relation to the area.»The eligible New Zealand citizen here is the protected SCV holder of section 7 of the Social Security Act 1991, so a New Zealander who arrived after 26 February 2001 cannot give the attestation.
Read it at the sourceAbout this source
The Commonwealth of Australia's statute book, run by the Office of Parliamentary Counsel under the Legislation Act 2003. It carries every Act, legislative instrument and notifiable instrument of the Commonwealth, each as made and as compiled, and it is the only publisher in this corpus whose own enabling Act gives its text a standing in court: section 15ZB of the Legislation Act 2003 says proof is not required in a court or tribunal of the text of a registered law, and section 15ZA presumes an authorised version of a registered compilation correctly shows the law as in force on the compilation date. Addressing is by register identifier rather than by name - C1958A00062 is the Migration Act 1958, F1996B03551 the Migration Regulations 1994 - and /latest/text serves the current compilation. Every compilation page prints its compilation number, its compilation date and the last amending Act or instrument taken into account.
Standing: Maintains the text in force
Cannot be cited for: Three things, each of which has already bitten. First, an unknown identifier does not 404: the site serves its own home page, so a wrong guess looks like a short page of search boxes rather than an error, and an absence inferred from one would be invented. Second, a long instrument is served in volumes and /latest/text gives volume 1 only - the Migration Regulations 1994 run to four volumes and Schedule 2, where every visa subclass actually lives, is in volumes 2 and 3 at a separate address. Third, and most important, nothing in the HTML served at /latest/text claims to be an authorised version. Section 15ZA makes an electronic copy one only if it is downloaded from an approved website in a format prescribed by the rules and either the site or the copy says so in the way the rules prescribe; the Act's own example of such a format is a locked pdf file. The words authorised version do not occur anywhere in any of the readings stored from this publisher except in the Legislation Act 2003 itself, so what we quote is the register's text without the status the register is able to give it. The presumption in section 15ZA(5)(h) is also expressly subject to section 15Q(4), under which a compilation need not take account of a retrospective commencement, so a compilation can be accurate on its face and behind the law. It is not a source for the Immigration Rules equivalent - departmental policy and procedural advice are published by Home Affairs, not here - nor for any state or territory law, which has its own register, nor for the text of a treaty, which is published in the Australian Treaty Series.
We re-read it every 90 days. More about this source
Practical notes
The State and Territory nomination requirement meant the programme was never purely federal in practice: the Commonwealth set the criteria and a State agency decided who was put forward.
This record does not describe the permanent Subclass 888 visa, which is the step that followed a Subclass 188 and remains reachable by existing provisional holders.
The investment thresholds that applied under the Significant Investor and Investor streams sat in ministerial instruments and in Schedule 2, and were not read.
- consolidatesMigration Regulations 1994, compilation 288, volume 1 (Parts 1 to 5 and Schedule 1)
Office of Parliamentary Counsel, Federal Register of Legislation · consolidated to 2026-07-01
About this source
The Commonwealth of Australia's statute book, run by the Office of Parliamentary Counsel under the Legislation Act 2003. It carries every Act, legislative instrument and notifiable instrument of the Commonwealth, each as made and as compiled, and it is the only publisher in this corpus whose own enabling Act gives its text a standing in court: section 15ZB of the Legislation Act 2003 says proof is not required in a court or tribunal of the text of a registered law, and section 15ZA presumes an authorised version of a registered compilation correctly shows the law as in force on the compilation date. Addressing is by register identifier rather than by name - C1958A00062 is the Migration Act 1958, F1996B03551 the Migration Regulations 1994 - and /latest/text serves the current compilation. Every compilation page prints its compilation number, its compilation date and the last amending Act or instrument taken into account.
Standing: Maintains the text in force
Cannot be cited for: Three things, each of which has already bitten. First, an unknown identifier does not 404: the site serves its own home page, so a wrong guess looks like a short page of search boxes rather than an error, and an absence inferred from one would be invented. Second, a long instrument is served in volumes and /latest/text gives volume 1 only - the Migration Regulations 1994 run to four volumes and Schedule 2, where every visa subclass actually lives, is in volumes 2 and 3 at a separate address. Third, and most important, nothing in the HTML served at /latest/text claims to be an authorised version. Section 15ZA makes an electronic copy one only if it is downloaded from an approved website in a format prescribed by the rules and either the site or the copy says so in the way the rules prescribe; the Act's own example of such a format is a locked pdf file. The words authorised version do not occur anywhere in any of the readings stored from this publisher except in the Legislation Act 2003 itself, so what we quote is the register's text without the status the register is able to give it. The presumption in section 15ZA(5)(h) is also expressly subject to section 15Q(4), under which a compilation need not take account of a retrospective commencement, so a compilation can be accurate on its face and behind the law. It is not a source for the Immigration Rules equivalent - departmental policy and procedural advice are published by Home Affairs, not here - nor for any state or territory law, which has its own register, nor for the text of a treaty, which is published in the Australian Treaty Series.
We re-read it every 90 days. More about this source
- consolidatesMigration Regulations 1994, compilation 288, volume 3 (Schedule 2, Subclasses 802 to 995)
Office of Parliamentary Counsel, Federal Register of Legislation · consolidated to 2026-07-01
About this source
The Commonwealth of Australia's statute book, run by the Office of Parliamentary Counsel under the Legislation Act 2003. It carries every Act, legislative instrument and notifiable instrument of the Commonwealth, each as made and as compiled, and it is the only publisher in this corpus whose own enabling Act gives its text a standing in court: section 15ZB of the Legislation Act 2003 says proof is not required in a court or tribunal of the text of a registered law, and section 15ZA presumes an authorised version of a registered compilation correctly shows the law as in force on the compilation date. Addressing is by register identifier rather than by name - C1958A00062 is the Migration Act 1958, F1996B03551 the Migration Regulations 1994 - and /latest/text serves the current compilation. Every compilation page prints its compilation number, its compilation date and the last amending Act or instrument taken into account.
Standing: Maintains the text in force
Cannot be cited for: Three things, each of which has already bitten. First, an unknown identifier does not 404: the site serves its own home page, so a wrong guess looks like a short page of search boxes rather than an error, and an absence inferred from one would be invented. Second, a long instrument is served in volumes and /latest/text gives volume 1 only - the Migration Regulations 1994 run to four volumes and Schedule 2, where every visa subclass actually lives, is in volumes 2 and 3 at a separate address. Third, and most important, nothing in the HTML served at /latest/text claims to be an authorised version. Section 15ZA makes an electronic copy one only if it is downloaded from an approved website in a format prescribed by the rules and either the site or the copy says so in the way the rules prescribe; the Act's own example of such a format is a locked pdf file. The words authorised version do not occur anywhere in any of the readings stored from this publisher except in the Legislation Act 2003 itself, so what we quote is the register's text without the status the register is able to give it. The presumption in section 15ZA(5)(h) is also expressly subject to section 15Q(4), under which a compilation need not take account of a retrospective commencement, so a compilation can be accurate on its face and behind the law. It is not a source for the Immigration Rules equivalent - departmental policy and procedural advice are published by Home Affairs, not here - nor for any state or territory law, which has its own register, nor for the text of a treaty, which is published in the Australian Treaty Series.
We re-read it every 90 days. More about this source