Order
(+61) 415 419 414

Business Innovation & Investment (Permanent) Visa (Subclass 888)

This visa is the second stage of the Business Innovation and Investment (Provisional) Visa (Subclass 188).

State sponsored business owner visa
trangle

Business Innovation &
Investment (Permanent) Visa (Subclass 888)

The Business Innovation and Investment (Permanent) Visa (Subclass 888) is the second stage of the Business Innovation and Investment (Provisional) Visa (Subclass 188), which permanently closed to new applications in July 2024. The Subclass 888 Visa allows individuals to transition to permanent residency in Australia after meeting the specific requirements of their provisional visa.

Main Requirements for the Subclass 888 Visa?

To qualify for this visa, you must:

  • Be the primary or secondary visa holder (spouse or de facto partner) of a provisional Business Innovation and Investment Visa (Subclass 188) or a Special Category Visa (Subclass 444) and have met all the requirements of your Business Innovation and Investment Visa in the stream in which you first applied. Certain holders of a Business (Long Stay) Visa (Subclass 457) may be able to apply for this visa under the Business Innovation Stream.
  • Be nominated by an Australian state or territory or by Austrade on behalf of the Australian government.
  • Have a satisfactory record of complying with Australian laws and regulations, especially in relation to business operations and employee management.
  • ​Not have not been involved in any unacceptable business or investment activities.
  • Meet health and character requirements for yourself and any family members included in the application.
  • Demonstrate a genuine and realistic commitment to maintaining business and investment activities in Australia.

Stream-Specific Requirements

What are the specific requirements for the 888 Visa under the Business Innovation Stream?

  • ​You must hold one of the below visas as a primary holder:
    • Business Innovation and Investment (Provisional) Visa (Subclass 188) in the Business Innovation Stream or the Business Innovation Extension Stream. If this visa was granted on or after 1 July 2021, you must have held this visa for at least 3 years.
    • Special Category Visa (Subclass 444). If this visa was granted on or after 1 July 2021, you must have held this visa for at least 3 years.
    • Temporary Work (Skilled) Visa (Subclass 457), in certain circumstances.
  • Alternatively, you could apply under this stream if you are the secondary visa holder of a Business Innovation and Investment (Provisional) Visa and your spouse/de facto partner is the primary holder of a Business Innovation and Investment (Provisional) Visa in the Business Innovation Stream or Business Innovation Extension Stream.
  • In addition, you must be able to show ongoing business involvement, have an Australian Business Number, meet the residence requirement, meet certain financial requirements (i.e. an annual business turnover of $300,000), meet the assets and employees requirement, have Functional English and have a history of employing Australian workers.

What are the specific requirements for the 888 Visa under the Investor Stream?

  • You must be the primary holder or the secondary visa holder of a Business Innovation and Investment (Provisional) Visa (Subclass 188) in the Investor Stream. If this visa was granted on or after 1 July 2021, you must have held this visa for at least 3 years.
  • If you were invited to apply for the Subclass 188 in the Investor Stream on or after 1 July 2021, you (or you and your spouse/de facto partner combined) must have held a ‘complying significant investment’ for the whole period of your provisional visa.
  • If you were invited to apply for the Subclass 188 in the Investor Stream before 1 July 2021, you (or you and your spouse/de facto partner combined) must have held a ‘designated investment’ for at least 4 years if the visa application was made on or after 1 July 2015.
  • In addition, you must be able to meet the residence requirement, have Functional English and have a realistic commitment to continuing investment activities in Australia.

What are the specific requirements for the 888 Visa under the Premium Investor Stream?

  • If you are applying for the permanent visa (Subclass 888) in the Premium Investor Stream, you must have held a provisional visa (Subclass 188) in the Premium Investor Stream at the time of application and be nominated by the Commonwealth government. You must have held your provisional Business Innovation and Investment (Provisional) Visa (Subclass 188) for a minimum of 1 year.
  • You (or you and your partner combined) must have held complying premium investments continuously for at least 1 year, and for the entire time you have held your Business Innovation and Investment (Provisional) Visa (Subclass 188).
  • In addition, you must have Functional English and have a realistic commitment to continuing investment activities in Australia.

What are the specific requirements for the 888 Visa under the Significant Investor Stream?

  • ​You must hold one of the below visas as a primary holder:
    • Business Innovation and Investment (Provisional) Visa (Subclass 188) in the Significant Investor Stream or the Significant Investor Extension Stream. If this visa was granted on or after 1 July 2021, you must have held this visa for at least 3 years.
    • Special Category Visa (Subclass 444). If this visa was granted on or after 1 July 2021, you must have held this visa for at least 3 years.
  • Alternatively, you could apply under this stream if you are the secondary visa holder of a Business Innovation and Investment (Provisional) Visa and your spouse/de facto partner is the primary holder of a Business Innovation and Investment (Provisional) Visa in the Significant Investor Stream or Significant Investor Extension Stream, under certain circumstances.
  • You must have held your ‘complying investment’ or ‘complying significant investment’ for the whole period of your Business Innovation and Investment (Provisional) Visa (Subclass 188).
  • In addition, you must be able to meet the residence requirement, have Functional English and have a realistic commitment to continuing investment activities in Australia.

What are the specific requirements for the 888 Visa under the Entrepreneur Stream?

  • If you are applying for this visa in the Entrepreneur stream, you must have been in Australia and held your Business Innovation and Investment (Provisional) Visa (Subclass 188) in the Entrepreneur stream. If you were invited to apply on or after 1 July 2021, you must have held the provisional visa continuously for at least 3 years. Otherwise, if you were invited to apply before 1 July 2021, you must have held the provisional visa continuously for at least 4 years.
  • You must have resided in Australia for 2 years of the total time you held your Business Innovation and Investment (Provisional) Visa (Subclass 188).
  • In addition, you must be able to demonstrate a successful record of entrepreneurial activities in Australia, have Functional English and have a realistic commitment to continuing investment activities in Australia.

What are the costs associated with applying for the 888 Visa?

Below are the visa application fees required by the Department of Home Affairs and other costs involved in submitting an 888 Visa application. Fees can increase without notice, so the actual fees can vary at the time of application. We have outlined the applicable fees that are likely to be incurred for the Business Innovation and Investment (Permanent) Visa (Subclass 888) in Australian Dollars. Contact us to learn more about our professional fees.

Department of Home Affairs Business Innovation and Investment (Permanent) Visa (888 Visa) application fees are:

  • Primary applicant – $3500
  • Adult dependent (18 and over) – $1750
  • Child dependent (under 18) – $875
  • Second instalment – $4,890 (if applicable)
  • Credit card surcharge (if applicable).

Other fees that may be applicable:

  • Our professional fees (as applicable).

What are the benefits of the 888 visa?

This is a permanent residence visa. It lets you and any member of your family unit who have also been granted this visa:

  • Stay in Australia indefinitely.
  • Work and study in Australia.
  • Enrol in Medicare, Australia’s scheme for health-related care and expenses.
  • Apply for Australian citizenship (if eligible).
  • Sponsor eligible relatives for permanent residence.
  • Travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).

How we can help you?

At Better Life Migration, we provide expert guidance in securing a business visa tailored to your specific needs. Our experienced team offers comprehensive support, ensuring you understand and fulfil the requirements to obtain a business visa in Australia. From submitting your application to liaising with immigration authorities, we manage the entire process with efficiency. With years of experience and a proven track record, we simplify the journey, ensuring you can focus on building your business in Australia.

Purchase Services
Get in touch with us

If you would like one of our Registered Migration Agents to get in touch with you before purchasing our service, then please complete the assessment form.

Call Back
Registered Migration Agent

Registered Migration Agent

Migration Alliance Member

Migration Alliance Member

Fixed Fees

Fixed Fees

Secure Online Services

Secure Online Services

Helping clients for over 14 years

Helping clients for
nearly 20 years

Registration

MARN 0530747
(Registered since 2005)

Parramatta Office

Suite 511/118, B1 Tower, Church Street, Parramatta, NSW 2150

Mobile

(+61) 415 419 414

Business Hours

Monday to Friday
9:00 - 17:30 (closed on Australian Public Holidays)
Weekend consultations available by appointment.

Copyright © Better Life Migration | All Rights Reserved

Back To Top