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

Business visa (subclass 888) is a permanent visa for the visa holders of the Business Innovation and Investment (Provisional) visa (subclass 188) or holders of a subclass 444 (Special Category) visa or certain holders of a subclass 457 (Business (Long Stay) visa. This visa let you stay indefinitely in Australia, enrol in Medicare and apply for medicare if eligible.

There are 5 eligibility streams:

  • Business Innovation stream
  • Investor stream
  • Significant Investor stream
  • Premium Investor stream
  • Entrepreneur stream

There are some common criteria applies for each stream and some specific criteria depending on the stream of business visa you are holding at the time of application.

Spouse or de facto partner of the primary visa holder can also apply on their own for the permanent stage if they can fulfil the criteria for this visa.

Business Innovation stream (888A)

This visa stream is for those business people who is the holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream, Extension stream or the Business Innovation Extension stream, or holders of a subclass 444 (Special Category) visa, or certain holders of a subclass 457 (Business (Long Stay) visa.

this visa also is known as “Subclass 888 A”.

Eligibility:

1. Immediately 2 years before the application lodge:

  • must own and operated one or two business in Australia, and
  • must own at least 51% total value of the business with less than AUD 400,000 turnover per year, or
  • must own at least 30% total value of the business with over AUD 400,000 turnover per year, or
  • 10% of the total value of a business that is operated by a publicly listed company, and

2. Immediately 12 Months before the application lodge:

  • Had an annual turnover of at least AUD300,000
  • Assets of AUD200,000 net value in your main business (or 2 main businesses) in Australia
  • Net personal and business assets in Australia of AUD600,000
  • At least net business assets of AUD200,000
  • At least 2 full-time employees in your main business
  • Employees must be Australian citizens, Australian permanent residents, or holders of valid New Zealand passports
  • Employees must not be members of your family

3. Must have a current nomination from a state or territory

4. At least Functional English or pay the second VAC

5. Meet the health and character requirements of the Australian government

Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

All family members who apply for the visa must meet the Health and Character Requirements of the Australian Government.

Investor stream (888B)

This visa stream is for those, who are the holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream or extension stream.

this visa also is known as “Subclass 888 B”.

Eligibility:

  • Must have held your designated investment (AUD1.5 million) for at least 4 years (if invested on or after 1 July 2015)
  • Must have a current nomination from a state or territory.
  • Physically lived in Australia for at least 2 of the 4 years immediately before you apply
  • Must have a realistic commitment to continuing your business or investment activities in Australia
  • At least Functional English or pay the second VAC
  • Meet the health and character requirements of the Australian government.

Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

All family members who apply for the visa must meet the Health and Character Requirements of the Australian Government.

Significant Investor stream (888C)

This visa stream is for those, who are the holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream or extension stream.

this visa also is known as “Subclass 888 C”.

Eligibility:

  • Must have held your designated investment (AUD 5 million) for the entire length of your provisional visa.
  • Must have a current nomination from a state or territory.
  • Physically lived in Australia for at least 160 days over the 4 years time or at least 40 days for each year you hold a provisional visa. Or
  • For the spouse or de facto partner must have been in Australia at least 180 days for each year holding a provisional visa.
  • Must have a realistic commitment to continuing your business or investment activities in Australia
  • At least Functional English or pay the second VAC
  • Meet the health and character requirements of the Australian government.

Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

All family members who apply for the visa must meet the Health and Character Requirements of the Australian Government.

Premium Investor stream (888D)

This visa stream is for those, who are the holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Premium Investor stream.

this visa also is known as “Subclass 888 D”.

Eligibility:

  • You must have held your provisional visa for at least 1 year
  • Must have held your designated investment (AUD 15 million) at least 1 year
  • Must have a current nomination from Austrade.
  • Do not need to be Physically lived in Australia
  • Must have a realistic commitment to continuing your business or investment activities in Australia
  • At least Functional English or pay the second VAC
  • Meet the health and character requirements of the Australian government.

Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

All family members who apply for the visa must meet the Health and Character Requirements of the Australian Government.

Premium Entrepreneur stream (888E)

This visa stream is for those, who are the holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream.

this visa also is known as “Subclass 888 E”.

Eligibility:

  • You must have held your provisional visa for at least 4 year
  • Must have a current nomination from a state or territory.
  • Physically lived in Australia for at least 2 of the 4 years immediately before you apply
  • Must have a realistic commitment to continuing your business or investment activities in Australia
  • At least Functional English or pay the second VAC
  • Meet the health and character requirements of the Australian government.
  • Must have a successful record of entrepreneurial activities.

Applicant either meet 2 key success factors, or 1 key success factor and 3 supporting factors.

Key success factors include:

  • employing 2 or more Australians, permanent residents or other eligible persons
    generating an annual turnover of at least AUD300, 000
  • filing a provisional patent or acquiring a standard or innovation patent
  • receiving ongoing funding or investment in your entrepreneur activity
  • entering into a partnership with a university
  • selling an entrepreneurial venture for AUD2 million

Supporting success factors include:

  • adapting your entrepreneurial activities into other business areas
  • receiving a statement of success from a state or territory government nominator
  • receiving sponsorship from the corporate sector
  • starting at least 1 other business or contributing to at least 2 other businesses
  • receiving formal awards or recognition
  • raising or contributing to social capital

Include family:

You can include members of the family unit with your visa application at the time of your application before application decision has been made. All family members who apply for the visa aged 18 years or older must either have functional English or should pay a Second VAC.

All family members who apply for the visa must meet the Health and Character Requirements of the Australian Government.

Note: Entrepreneurial activities in residential real estate, labour-hire and buying an existing enterprise or a franchise in Australia is not accepted.

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