Australia Business Innovation & Investment (Subclass 888)

The Business Innovation and Investment (subclass 888) is a permanent residency visa for those who hold a four-year provisional subclass 188 visa and looking to continue to own and manage a business or an investment activity in Australia and Australian state or territory respectively.

COMMON CRITERIA

To be eligible for 888 visa, you must:

Held a provisional Business Innovation and Investment visa (subclass 188) and met all the requirements of the stream you first applied OR
Be the spouse or de facto partner of 188 visa in the investor or business innovation stream and be able to meet the primary requirements of permanent business innovation and investment visa in the relevant stream OR
Held a Special Category visa (subclass 444) and met the requirements of business innovation stream
Not have been involved or associated with any unacceptable business or investment activity

ADDITIONAL REQUIREMENTS:

Hold a fine record of abiding by the laws of Commonwealth along with state or territory in which you operated a business or entrepreneurial activity
Nomination by the Australian state or territory or by Austrade on behalf of the Australian government
Evidence of meeting the health and character requirements for 188 visa
Genuine commitment to maintain business or investment activity in Australia
Met all the requirements of the stream in which you held your 188 visa
Must be free from any outstanding debts to the Australian government (this also applies to all the members of family unit)
You must enter in Australia by a specified date once you are granted this visa
Any family member included as dependent in the application must not marry or be in a de facto relationship before entering in Australia

VISA STREAMS AND ITS ELIGIBILITY CRITERIA

BUSINESS INNOVATION STREAM

To apply for 888 visa under this stream, you must:

Hold a business innovation and investment visa (subclass 188) in the business innovation or business innovation extension stream OR
Hold a special category visa (subclass 444) for at least 1 of 2 years prior to making an application
Be able to demonstrate ongoing business involvement, meet certain financial requirements and a history of employing Australian workers

INVESTOR STREAM

To apply for 888 visa under this stream, you must:

Have held 188 visa in the investor for at least 2 of the 4 years prior making to application
Have maintained a designated investment with an Australian state or territory for at least 4 years

Note: If you have applied for 188 visa before 1 July 2015, you can only apply for 888 visa under this stream once you have completed 3 years on your 188 visa.

If you have applied for 188 visa after 1 July 2015, you are required to hold your visa for at least 4 years prior lodging an application for 888 visa.

SIGNIFICANT INVESTOR STREAM

To apply for 888 visa under this stream, you must:

Have held 188 visa in the significant investor stream or significant investor extension stream
Held complying investment consistently for at least 4 years on your 188 visa
Operated a qualifying business under the private Australian company

Note: If you have applied for 188 visa in the significant investor stream before 1 July 2015, you must have held your visa for 3 years and 11 months to be eligible to apply for 888 visa. If you have applied after 1 July 2015, you are required to have held your 188 visa for at least 4 years.

PREMIUM INVESTOR STREAM

To apply for 888 visa under this stream, you must:

Held 188 visa in the premium investor stream for at least 1 year and be nominated by the commonwealth government
Held complying premium investment continuously for at least 1 year

ENTREPRENEUR STREAM

To apply for 888 visa under this stream, you must:

Have held your provisional 188 visa in the entrepreneur stream for at least 4 years prior making an application
Have evidence that demonstrate a successful record of your entrepreneurial activities in Australia

Need assistance to check your eligibility for the visa or want us to help you proceed with the application, book your consultation today!

VISA BENEFITS

Live, Study And Work For An Indefinite Period
Enrol In Medicare (Australia’s Program For Health Coverage)
Apply For Australian Citizenship (After Meeting A Certain Criteria)
Sponsor Eligible Relatives For Permanent Residency
Leave And Re-Enter Australia From The Date Visa Is Granted (After 5 Years On Your Permanent Residency Visa You Need To Apply For Resident Return Visa To Extend Your Travel Facility)

States / Territories

AU-WA

Fees: $750

Processing Time: Relatively quick

Preferred Industries:

Commit a significant amount of new capital investment;
Generate skilled employment or a large number of new jobs;
Develop export markets or replace imports;
Introduce new skills, expertise, technologies or innovations;
Locate the business activity in a regional area; and
Have a significant flow on effect to other sectors of the economy

Restricted Industries:

Residential estate
Labour Hire
Purchasing of existing
business or franchise

AU-NT

Fees: No Fees

Processing Time: Relatively quick