Business Innovation and Investment (Permanent) Visa (subclass 888)

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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.

You must:

  • Be the primary visa holder of a provisional Business Innovation or Investment visa (subclass 188), which are:
  • Business Innovation Stream – Subclass 188
  • Investor Stream – Subclass 188
  • Significant Investor Stream- Subclass 188
  • Have met all the requirements of your provisional Business Innovation and Investment visa in the stream in which you first applied.
  • Be nominated by a state or territory government before being invited to apply for this visa.
  • Have a realistic commitment to maintain business or investment activities in Australia.

Business Innovation Stream Visa holder

You must:

  • Apply for State or Territory Nomination
  • Have owned a business for the last 2 years and have a strong intention and interest to keep operating the business in Australia.
  • Provide evidence that 2 out of the 3 following business requirements have been met:
  • Your main business has an Australian Business Number (ABN) and you have submitted Business Activity Statement regularly to the Australian Taxation Office in the last two years.
  • Your main business or businesses (or the businesses of your spouse or de facto partner, or of you and your spouse or de facto partner together) had an annual turnover of at least AUD300,000 in the last 12 months immediately before the application is made.;
  • You or your partner (or you and your partner together) must also have achieved at least two of the following 3 business requirements for the last 12 months:
  • main business (or businesses) has net business assets of at least AUD 200,000 in Australia continuously for last 12 months
  • your net personal and business assets of at least AUD 600,000 in Australia for a period of 12 months prior to the date of the application
  • you have employed two full-time employees, who are Australian citizens, permanent residents, or NZ citizens, in your main business.

Investor Stream Visa holder

You must:

  • Apply for State or Territory Nomination
  • You, or your spouse or de-facto, must have been in Australia and held a provisional visa 188 for at least 2 of the 4 years. This does not need to have been continuous stay.
  • You must have maintained your designated investment of AUD1,500,000 with an Australian State or Territory for at least 4 years

Significant Investor Stream Visa holder

  • You must hold a subclass 188 visa in the Significant Investor stream Visa for a continuous period of at least four years.
  • You must apply for State or Territory Nomination or Nomination from Austrade
  • You must have held your AUD5,000,000 in complying investments over the 4 years.
  • You must have been in Australia on Significant Investor stream Visa for a minimum of 160 days, or the equivalent of 40 days per year the visa was held.
  • Alternatively, if your spouse or de facto partner is the main applicant they must have been in Australia on a Business 188 visa, granted on the basis that you held a subclass 188 visa in the Significant investor stream or the Significant Investor Extension stream, for at least the number of days worked out by adding the results of paragraphs (a) and (b):
  • (a) 180 multiplied by the number of complete years in the period in which you held a subclass 188 visa in the Significant Investor Stream, and
  • (b) 180 multiplied by the number of years (if any) (treating a part of a year as one year) in which you held a subclass 188 visa in the Significant Investor Extension stream.

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).

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.

Visa Entitlements

Successful applicants and holders of Business Innovation and Investment Subclass 188 Visa become permanent residents of Australia. Australian permanent residents are entitled to live, work and study in Australia on a permanent basis. Additional benefits of Australian permanent residence include access to government-subsidised healthcare (Medicare), certain social security benefits and the ability to apply for Australian citizenship.

Our Services

Visa Globe Migration Agents assists Business Visa applicants, identifying the correct stream for the individual application and navigating the complexities associated with each. We provide advice and application management from start to finish to ensure the best possible visa outcome.