Australian immigration: exactly where the door narrowed

Getting into Australia is harder now than it was three years ago, and the difficulty is not about money. The investor stream has closed outright, what replaced it cannot be bought with capital, and the skilled streams score ever more tightly. Here is which door shut and which are still open.

The 188 investor visa closed, and is not reopening

The Business Innovation and Investment visa, subclass 188 — including the AUD 5 million Significant Investor stream — stopped taking new applications on 31 July 2024. Files lodged before then are still being processed. The Australian government has confirmed it will not revive the old investment model.

For Vietnamese applicants this is the biggest change in a decade. The familiar path — move capital across, open a business, receive permanent residence — is gone. Anyone reading advice written before July 2024 is almost certainly reading something that no longer applies.

The National Innovation Visa is not a replacement

Subclass 858 came into force on 7 December 2024, replacing the Global Talent visa. It sounds like a new door, but it runs on expressions of interest followed by an invitation, and it is meant for people with internationally recognised achievement.

• There is no minimum investment, so capital does not help.
• A reputable Australian individual or organisation in the field must nominate you.
• English at functional level, roughly IELTS 4.5.
• No service standard at all: an EOI can sit for months or well over a year.

This is a visa for researchers with recognised publications, founders who have raised serious money, leaders in a discipline. It is not a direct substitute for the old 188 investor route.

The doors still open: skilled visas

For most Vietnamese families, the practical route in 2026 runs through skills.

• Subclass 189, independent and nationwide, scored on points.
• Subclass 190, requiring state nomination, worth 5 extra points.
• Subclass 491, regional, worth 15 extra points, converting to permanent residence through subclass 191 after three years.

The common conditions: an occupation on the priority list with a positive skills assessment, under 45 at the time of invitation, and English at Competent level — IELTS 6.0 in each band. The floor is 65 points, but 189 invitation rounds in competitive occupations sit well above that. From lodging an EOI to holding the visa usually takes one to two years.

And one more: employer sponsorship

Subclass 186 grants permanent residence directly where an Australian business sponsors a genuine full-time role, or by transition from a Skills in Demand 482 visa after a period of employment. No points test, but you need a skills assessment and at least three years of relevant experience. It suits people who already have the expertise and a real connection to an employer there.

Four years to citizenship, and the 90-day trap

Australia asks for four years of lawful residence with the final twelve months as a permanent resident. Absences must total no more than twelve months across the four years, and no more than 90 days in the final year. That 90-day limit is where Vietnamese families most often slip — a couple of long trips home and the filing date has to move. Australia has permitted dual citizenship since 4 April 2002.

Buying a house does not produce a visa

Worth saying plainly, because the question keeps coming. Australia has no residence-for-property scheme. Since 1 April 2025 foreign nationals have also been barred from buying established homes, and the ban has been extended. What remains open is new housing or vacant land to build on, with FIRB approval. Property ownership and residence status are entirely separate matters.

The detail on each visa subclass, with conditions and timelines, is on our Australia immigration page. If pure investment migration is what you are after, compare the European and UAE options on our immigration page.

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The information in this article is for reference at the time of writing. It is not legal advice and no outcome is promised — immigration policy, tax rules and market conditions can change. For an assessment based on your family's specific circumstances, please request a consultation with the VNIS Investment team.