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Innovation & Investment Visas (888)
Home  /  Australia  /  Innovation & Investment Visas (888)

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

Doing business in Australia is lucrative and getting the Visa is possible and here is how…

The Business Innovation and Investment (Permanent) Visa (Subclass 888) is basically an extension of the Business Innovation and Investment (Permanent) Visa (Subclass 188) Visa.

Anyone who meets the following criteria can apply for this particular Visa

  • You can be either within Australia or overseas at the time of applying for the Business Innovation and Investment (Permanent) Visa (Subclass 888)
  • At the time of applying for this Permanent Business and Investment Visa you must be holder of the Provisional Business Innovation and Investment Visa (Subclass 188)
  • This particular visa is available to only those who are nominated by an Australian State or Territory Government authorities
  • You must be nominated by the same Australian State or Territory Government who previously nominated you for the Provisional Business Innovation and Investment Visa (Subclass 188). Unless you have obtained permission to shift the State or Territory within Australia
  • You have a genuine commitment to do and maintain business within the particular state or territory in Australia
  • You have shown a satisfactory compliance for Australian Commonwealth, State and Territorial Laws

Requirements for Business Innovation Streams

This option is open to those who own a business unit in Australia and intend to extend the same here. You need to meet the following conditions to be able to apply for a Business Innovation Visa through the Business Innovation Stream

  • You must have been a resident of Australia for a minimum period of one to two years
  • You have had an Ownership Interest in an Australian business for the last Two Years
  • Your business is ABN registered and you have submitted all the necessary Business Activity Statements (BAS) for the two years in question
  • Your business has had a turnover of at least Australian Dollars AUD 300,000 for the last 12 months. The exception is allowed in instances where your business is in a state or territory where the respective regional governments have indicated that there have been extraneous circumstances for the low business performance

Prior to application of the Business Innovation and Investment (Permanent) Visa (Subclass 888), you must meet any Two of the following three criteria

  • Net assets of AUD 200,000
  • Have two full time equivalent employees working for you and these must not be your relatives and must be Australian citizens; an Australian Permanent Resident Visa holder; or holder of a New Zealand Passport who resides in Australia
  • Possess net personal assets of AUD 600,000

On the other hand, the Investor Stream requirements are

  • You must be holder of the Business Innovation and Investment (Provisional) Visa (Subclass 188)
  • You must be residing in Australia for at least Two Years of the Last Four Years
  • You must have Maintained the AUD 1.5 million Investment in the Last Four Years

With the Business Innovation and Investment (Permanent) Visa (Subclass 888), you can do the following

  • Live permanently in Australia
  • Have your own business
Contact us
Need a consultation for visa or migration services? We can help you. Simply knock us for any requirements through mail or via phone. All you need to do is to send your latest resume, spouses resume (if married). We have the latest information about the services and updates on selection process of various countries around the world.
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