Business Innovation and Investment Permanent visa (Subclass 888)
Business Innovation and Investment visa is the permanent stage of the initial Subclass 188 visa, allowing applicants to manage their business and investments in Australia for an indefinite period. You can apply for it after you have fulfilled the requirements of your provisional visa.
Five streams of this visa, depending on level of contribution to the Australian economy
Business Innovation Stream where you have ongoing business involvement, history of employing Australian workers and meet certain financial requirements.
Investor Stream where you have required investment with an Australian state or territory for at least 4 years.
Significant Investor (SIV) Stream where you held complying investments continuously for at least 4 years and operated a qualifying business in which you have direct investment in Australia.
Premium Investor (PIV) Stream where you have required premium investment for at least 1 year in Australia.
Entrepreneur Stream where you demonstrate successful record of entrepreneurial activities in Australia.
Common eligibility requirements for Subclass 888 Visa
- Nominated by an Australian State or Territory, or by Austrade, on behalf of the Australian government
- Primary holder of a provisional 188 visa or be a secondary visa holder who is a spouse or de facto partner of a provisional 188 holder in the Investor or Business Innovation stream, or holder of Special Category visa Subclass 444, Business Long Stay visa Subclass 457IE for Business Innovation stream
- Meet other requirements of relevant visa stream
- Not involved in unacceptable business or investment activities
You do not need to submit a new Expression of Interest or be invited to apply for this visa. You need to be nominated by a state or territory government agency or Austrade on behalf of the Australian government if you are seeking to satisfy the primary criteria. We can assist you in preparing your applications,
Additional primary requirements to qualify for Subclass 888 visa
- You and your partner have a satisfactory record, of that you have complied with Commonwealth laws and the State or Territory where your business operates;
- You and your partner meet Australian health and character requirements; and
- Have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.
You will also be subjected to additional requirements, depending on the stream you held in your original Subclass 188 provisional visa.
Advantages of Business Innovation and Investment (Permanent) Visa
The Business Innovation and Investment (Permanent) visa grants you permanent residence in Australia. It allows you and your eligible family members to:
- Stay in Australia indefinitely
- Work and study in Australia
- Enrol in Medicare
- Apply for Australian citizenship once you become eligible
- Sponsor eligible relatives for permanent residence
- Travel to and from Australia
