VNIS Investment

Australia immigration

Australian Residence 2026: the National Innovation Visa and the Skilled Visas

Australian migration policy has changed at its foundations. The entire business and investment stream under subclass 188 closed on 31/07/2024, replaced from 12/2024 by the National Innovation Visa: a permanent visa reserved for exceptional talent, granted by invitation. For most Vietnamese applicants, the realistic door in 2026 is the skilled stream.

Figures updated 08/2026

Investor visa 188/BIIP
Closed from 31/07/2024
No new applications; files lodged earlier continue to be processed
Replacement
National Innovation Visa (subclass 858)
Permanent, by invitation only, from 07/12/2024
Skilled stream
189 / 190 / 491, points tested
English (NIV)
Functional English minimum
Equivalent to IELTS 4.5
Citizenship
After 4 years of residence (at least 1 year as a permanent resident)

Overview

Subclass 188 Business Innovation and Investment, including the Investor stream and the AUD 5 million Significant Investor stream, stopped accepting new applications on 31/07/2024. Applications lodged before that date continue to be processed. The Australian government has confirmed that the former investment migration model will not reopen.

The National Innovation Visa, subclass 858, took effect on 07/12/2024 and replaced the Global Talent Visa. It is a permanent visa operating through expression of interest and invitation, for individuals with achievement at international standing: researchers, innovative entrepreneurs, investors with an exceptional record. There is no minimum investment; instead there is a very high achievement standard and a requirement for a reputable Australian individual or organisation to nominate you.

The skilled visas continue to operate steadily through 2026: subclass 189 independent, subclass 190 state nominated and subclass 491 regional, all points tested; alongside subclass 186 for employer sponsorship and subclass 482 Skills in Demand as a stepping stone. This is the most workable route for Vietnamese applicants whose occupation appears on the priority lists.

One point should be stated plainly for investors interested in Australian property: ownership creates no right of residence, and Australia currently bars foreign nationals from purchasing established dwellings. We invite you to read our Australian property page.

Programmes

Routes currently open

National Innovation Visa (subclass 858)

Source: immi.homeaffairs.gov.au

A permanent visa for individuals with outstanding achievement at international standing in academia, technology, business, sport or the arts. The mechanism has two stages: lodge an expression of interest, and apply only once the Department of Home Affairs issues an invitation.

Investment / cost
No minimum investment; visa charges and application costs per the Department of Home Affairs schedule
Estimated timeline
No service commitment: an expression of interest may wait several months to more than a year; the strongest files are prioritised
Benefits
  • Permanent residence on grant, for the whole family
  • No hard age limit (applicants over 55 must demonstrate exceptional benefit to Australia)
  • No job offer or mandatory minimum salary (capacity to reach the high income threshold is one reference criterion)
Key requirements
  • Internationally recognised achievement, evidenced (awards, publications, patents, a successfully funded business and similar)
  • Nomination by a reputable Australian individual or organisation in the relevant field
  • Functional English minimum; earning capacity referenced against the Fair Work High Income Threshold
  • Highly competitive — this is not a direct substitute for the former subclass 188 investor stream

The reference income threshold is updated annually — to be reconfirmed before publication

Skilled visas: subclass 189 / 190 / 491

Source: immi.homeaffairs.gov.au

A skilled migration points system scoring age, English, experience and qualifications. Subclass 189 is independent and nationwide; subclass 190 requires state nomination and adds 5 points; subclass 491 is regional, adds 15 points, and converts to permanent residence through subclass 191 after three years.

Investment / cost
No investment required; costs cover skills assessment, English testing and visa charges (see the current Department of Home Affairs schedule)
Estimated timeline
From lodging an expression of interest to visa grant commonly takes 1–2 years depending on occupation, score and nominating state
Benefits
  • Subclass 189 and 190 grant permanent residence immediately; subclass 491 has a defined path to permanent residence after three years
  • The whole family accesses Medicare and public education
  • No dependence on an employer sponsor (unless you choose subclass 186 or 482)
Key requirements
  • An occupation on the priority list and a successful skills assessment
  • Under 45 years of age at the time of invitation
  • Competent English minimum (IELTS 6.0 in each band); higher scores earn additional points
  • A minimum of 65 points, though competitive occupations require appreciably more in practice

Employer Nomination Scheme (subclass 186)

Source: immi.homeaffairs.gov.au

Direct permanent residence for a worker sponsored by an Australian business into a long-term position, or transitioning from a subclass 482 Skills in Demand visa after a period of employment.

Investment / cost
No investment required; the worker must be paid the market salary rate and above the government's skilled income threshold
Estimated timeline
Several months to more than a year depending on the stream (Direct Entry or Temporary Residence Transition)
Benefits
  • Permanent residence on grant for the whole family (Direct Entry stream)
  • No points test, unlike subclass 189 and 190
  • Suits Vietnamese professionals with established expertise and Australian employer connections
Key requirements
  • An Australian business sponsoring a genuine full-time position
  • A skills assessment and at least three years of relevant experience
  • Under 45 years of age (exemptions apply), Competent English

How we work

The Australia case path

  1. 01

    Assess your eligibility

    1–2 working sessions

  2. 02

    Select the programme

    1–3 weeks

  3. 03

    Prepare the file

    2–6 months, depending on the programme

  4. 04

    File and monitor

    Per the processing schedule of the adjudicating authority

  5. 05

    Settlement and beyond

    A long-term relationship

Further reading

Updates on Australia

Định cư Úc diện tay nghề 2026: Visa 189, 190 và 491 khác nhau thế nào?

National Innovation Visa 858: Visa thường trú Úc dành cho ai?

Visa đầu tư Úc 188 đã đóng: Người Việt còn lựa chọn nào năm 2026?

Answers

Frequently asked questions

Does the Australian 188 investor visa still exist, and will it reopen?

No. The entire subclass 188 Business Innovation and Investment programme, including the AUD 5 million Significant Investor stream, closed to new applications on 31/07/2024, and the Australian government has confirmed it will not reopen. Applications lodged before closure continue to be processed. The only replacement is the National Innovation Visa, subclass 858, reserved for exceptional talent — not a visa that can be purchased with investment capital.

Is the National Innovation Visa 858 suitable for Vietnamese investors?

It suits only the small number of individuals with outstanding achievement at international standing: founders who have raised substantial capital, researchers with recognised publications, leading specialists. The visa is assessed by invitation against a very high standard, and requires a reputable Australian nominator. If your objective is residence through investment alone, we would put Portugal, Greece or the UAE on the table instead.

How many points do you need for the Australian skilled stream in 2026?

The floor is 65 points, but subclass 189 invitation rounds in practice require appreciably more depending on occupation. Points come from age, with the 25–32 band scoring the maximum; from English, where IELTS 8.0 in each band earns 20 points; and from experience and qualifications. Subclass 190 adds 5 points and regional subclass 491 adds 15 — a realistic option for mid-range profiles.

Does buying property in Australia lead to a residence visa?

No. Australia operates no programme exchanging property for residence rights, and since 01/04/2025 foreign nationals have been barred from purchasing established dwellings; that ban has been extended. What remains open is new dwellings or vacant land for development, subject to FIRB approval. Property ownership and residence status are entirely separate legal questions.

How long until Australian citizenship?

You need four continuous years of lawful residence in Australia, with at least the final 12 months held as a permanent resident. Absences must not exceed 12 months across the four years, nor 90 days in the final year. A citizenship test also applies. Australia permits dual citizenship.

This information is provided for reference and does not constitute legal advice. Immigration policy may change at the discretion of each country. Contact VNIS Investment for an assessment based on your actual circumstances.

Beyond Future

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