BUSINESS INNOVATION AND INVESTMENT (PERMANENT) VISA (SUBCLASS 888)
The Business Innovation and Investment (Permanent) visa (subclass 888 visa) is part of the Business Innovation and Investment Programme.
Australian visa applicants might be able to apply for this visa if:
- They are the primary visa holder of a provisional Business Innovation and Investment visa (subclass 188) and have met all the requirements of the Business Innovation and Investment visa in the stream in which they first applied; or
- They are the secondary visa holder who is the spouse or de facto partner of a provision Business Innovation and Investment visa (subclass 188) holder in the Investor or Business Innovation stream and can meet all the primary criteria requirements of the permanent Business Innovation and Investment visa in the relevant stream; or
- They hold a special category visa (Subclass 444) and have met all the requirements of the business innovation stream.
The Subclass 888 visa includes five qualifying streams:
Business Innovation Stream: Subclass 888 visa applicants must have been in Australia and held:
- 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).
for at least one year in the two years immediately before the Subclass 888 visa application is lodged. In addition, Subclass 888 visa applicants will need to demonstrate ongoing business involvement, meet the financial requirements and have a history of employing Australian workers.
Investor Stream: Subclass 888 visa applicants under the Investor stream must have been in Australia and held a provisional visa in the investor stream for at least two out of the four years prior to the application lodgement. In addition, applicants must have maintained their designated investment with the Australian state or territory government agency for at least four years.
Significant Investor Stream: Subclass 888 visa applicants must hold a Subclass 188 (Provisional) visa in the Significant Investor stream or in the significant investor stream at the time of visa application.
Subclass 888 visa applicants under the above stream must have been in Australia as the holder of provisional visa (Subclass 188) in the Significant Investor stream or the Significant Investor extension stream for at least 40 days per year for the time the applicant held the provision (188) visa. Alternatively, applicants together with the spouse need to have been in Australia for at least 180 days (cumulatively) on the basis of the period of time the primary applicant held their provisional Subclass 188 visa.
Subclass 188 visa applicants under the Significant Investor visa stream must have:
- Held complying investments continuously for at least four years as the holder of a Subclass 188 Business Innovation and Investment (Provisional) visa (subclass 188).
- Operated a qualifying business under the private Australian company in which the applicant has made a direct complying investment (if applicable).
Premium Investor Stream: Subclass 888 visa applicant must hold a provisional (Subclass 188) visa under the Premium Investor stream at the time of application and be nominated by the commonwealth government.
Subclass 888 visa applicants must have held their provisional visa for a minimum of one year. Visa applicants must have held complying premium investments continuously for at least one year, and for the entire time the applicant has held their Business Innovation and Investment (Provisional) visa (subclass 188).
Entrepreneur Stream: Subclass 188 visa applicants under the Entrepreneur stream must have been in Australia and held their provisional visa in the Entrepreneur stream for a continuous period of at least four years immediately before they are invited to apply. Visa applicants must also demonstrate a successful record of entrepreneurial activities in Australia.