The Business Innovation and Investment (Permanent) Visa (subclass 888 Visa) continues from the Business Innovation and Investment Visa (subclass 888 Visa) as its second stage. It lets you continue owning and managing a business, or investment activity, in Australia.
How do I get Business Innovation and Investment Visa (subclass 888 Visa)?
You can apply for Business Innovation and Investment Visa (subclass 888 Visa) if:
- You meet all the requirements of this visa in addition to being the primary holder of a provisional Business Innovation and Investment visa (subclass 188 Visa), or
- You are the secondary holder as the spouse or de facto partner of a provisional visa (subclass 188) holder in the Investor or Business Innovation stream, or
- You have been granted a Special Category visa (subclass 444) and meet all the requirements of the Business Innovation stream, and
- You and your partner have never indulged in any unlawful business or investment activities.
- You meet all the health and character requirements of the Australian government.
- You and your partner have a good record when it comes to complying with Commonwealth laws, and those of each State or Territory where you operate your business.
- You earn a nomination on behalf of the Australian government from Austrade, or an Australian state or territory.
- You show a genuine commitment to continue to maintain and operate your business activities in Australia.
Are there any other conditions?
Business Innovation and Investment Visa (subclass 888 Visa) has five streams: Business Innovation stream, Investor stream, Significant Investor stream, Premium Investor stream, and Entrepreneur stream. The eligibility requirements of each stream are as follows:
Business Innovation stream
You must have been in Australia and held:
- A provisional visa (subclass 188) in the Business Innovation Extension stream or the Business Innovation stream.
- A Special Category visa (subclass 444) for at least one year in the two years immediately before you lodge your visa application.
Investor stream
You must have been in Australia and held:
- A provisional visa (subclass 188) in the Investor stream for at least two years in the four years immediately before the lodgement of your application.
- A designated investment in an Australian state or territory for at least four years.
Significant Investor stream
You must hold a provisional visa (subclass 188) in the Significant Investor Extension stream or the Significant Investor stream. Additionally, you and your partner combined must have held complying investments for at least four consecutive years while holding your provisional visa (subclass 188).
Premium Investor stream
You must have held a provisional visa (subclass 188) for at least one year in the Premium Investor stream at the time of your application. The Commonwealth government must have also nominated you.
Entrepreneur stream
You must have been in Australia and held your provisional visa (subclass 188) in the Entrepreneur stream for a continuous period of at least four years immediately before your application.
How do I apply for Business Innovation and Investment Visa (subclass 888 Visa)?
Once you have gathered all the necessary documents and prepared your visa application, you can lodge it online via ImmiAccount.
For all kinds of assistance with this process, contact our registered migration agents at eduaid!
What are the features and benefits of Business Innovation and Investment Visa (subclass 888 Visa)?
This is a permanent residence visa and lets you:
- Stay in Australia indefinitely as a permanent resident.
- Work and study in Australia as a permanent resident.
- Get all the benefits of Medicare.
- Apply for Australian citizenship.
- Sponsor eligible relatives for Australian citizenship.
- Travel to and from Australia as you wish for five years from the date on which you obtain your visa.
You can also include eligible family members in your visa application, who will enjoy the same benefits as you.
