Business Innovation and Investment visa (subclass 888)
The subclass 888 is the permanent stage of the initial 188 visa, allowing applicants to manage their business and investments in Australia for an indefinite period.
This visa also has five streams depending on your level of contribution to the Australian economy. This includes:
- Business Innovation Stream
- Investor Stream
- Significant Investor Stream
- Premium Investor Stream
- Entrepreneur Stream
Eligibility Requirements for a subclass 888 Visa
- Need to be nominated by an Australian State or Territory, or by Austrade, on behalf of the Australian government
- You must either be a 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
- Have met the requirements of the business innovation stream
Additional primary requirements to qualify for the 888 visa include:
- 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 188 provisional visa.
Benefits of the Business Innovation and Investment Visa
The Business Innovation and Investment (Permanent) visa will grant you permanent residence in Australia. It will allow you and your eligible family members:
- The right to stay in Australia indefinitely
- Work and study rights in Australia
- The opportunity to enrol in Medicare – Australia’s scheme for health-related care and expenses
- Apply for Australian citizenship once you become eligible
- Sponsor eligible relatives for permanent residence
- Travel to and from Australia for up to five years
Find about your eligibility. Fill our free online assessment form today.