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

The Business Innovation and Investment visa (subclass 888) is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188).

State sponsored business owner visa
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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). You can apply for it after you have fulfilled the requirements of your provisional visa.

What are the main requirements for the 888 visa?

  • you are the primary visa holder or a secondary visa holder (spouse or de facto partner) of a provisional Business Innovation and Investment visa (subclass 188) and have met all the requirements of your Business Innovation and Investment visa in the stream in which you first applied; or
  • you hold a Special Category visa (subclass 444) and have met the requirements of the business innovation stream; and
  • ​you and your partner have not been involved in any unacceptable business or investment activities.
  • and your partner have a satisfactory record of complying with Commonwealth laws, and of each State or Territory in which you operate a business and employ employees in the business, relating to your business,
  • you have been nominated by an Australian state or territory or by Austrade on behalf of the Australian government,
  • you and all your family members meet health and character requirements
  • have a realistic commitment to maintain business or investment activities in Australia.
  • You are able to meet specific requirements of the stream in which you held your provisional Business Innovation and Investment visa (subclass 188).

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

  • ​You must have been in Australia and held one of the below two visas for at least one year in the two years immediately before applying:
    • a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream
    • a Special Category visa (subclass 444)
  • In addition, you must be able to show ongoing business involvement, meet certain financial requirements, and have a history of employing Australian workers.

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

  • If you are applying for this visa in the Investor stream, you must have been in Australia and held your provisional visa in the Investor stream for at least two of the four years immediately before applying.
  • In addition, you (or you and your partner combined) must have held a designated investment with an Australian state or territory for at least four years.

If you applied for your provisional visa after 1 July 2015, you are required to hold your provisional visa for at least 4 years prior to applying for a subclass 888 visa.

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

  • ​If you are applying for a 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 visa 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).

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

If you are applying for a permanent visa (subclass 888) in the Significant Investor stream, you must have held at the time of application:

  • a provisional visa (subclass 188) in the Significant Investor stream or in the Significant Investor Extension stream.
  • You must have been in Australia as the holder of a provisional visa (subclass 188) in the Significant Investor stream or the Significant Investor Extension stream for at least 40 days per year (calculated cumulatively) for the period of time you have held your provisional visa(s), or your spouse has been in Australia for at least 180 days per year (calculated cumulatively) on the basis of the period of time the primary applicant has held their provisional visa(s).
  • In addition, you (or you and your partner combined) must have:
  • held complying investments continuously for at least 4 years while holding your Business Innovation and Investment (Provisional) visa (subclass 188).
  • operated a qualifying business under the private Australian company in which you have made a direct complying investment if applicable.

If you applied for your provisional visa after 1 July 2015, you are required to hold your provisional visa for at least 4 years prior to applying for a subclass 888 visa.

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 provisional visa in the Entrepreneur stream for a continuous period of at least four years immediately before you apply.
  • In addition, you must be able to demonstrate a successful record of entrepreneurial activities in Australia.

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 has also been granted this visa:

  • stay in Australia indefinitely
  • work and study in Australia
  • enroll in Medicare, Australia’s scheme for health-related care and expenses
  • apply for Australian citizenship (if you are 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).

     

    What are the costs associated with applying for the 188 visa?

    Our service packages are designed to give clients choice in terms of fees and the level of service. Our fees are fixed. However, they do not cover the visa application fees and other costs involved in submitting a visa application. We have outlined the fees that are most likely to be incurred in Australian Dollars. Fees quoted below are for general skilled visa applications (Subclass 188) visas. Fees can increase without notice, so the fees can vary at the time of application.

    • Department of Home Affairs (DHA) Visa Application fees – $ 3310 (for primary applicant), $1660(for each secondary applicant over 18), $825 (for each secondary applicant under 18)

How we can help you?

Better Life Migration can help you navigate the complex legal maze to obtain a business visa. Our migration team has the expertise and experience to help you with your business visa application.

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