Business Innovation and Investment Visa (Subclass 888)

The Business Innovation and Investment Visa (Subclass 888) is a permanent visa that allows business owners, entrepreneurs, and investors to continue their activities in Australia. It provides an opportunity to reside permanently, manage your business, and enjoy the benefits of living in one of the most dynamic countries in the world.

Key Features of the Subclass 888 Visa

• Permanent Residency: Live, work, and study in Australia indefinitely.
• Travel Benefits: Travel to and from Australia for five years from the visa grant date.
• Sponsorship: Sponsor eligible family members for permanent residency.
• Health Coverage: Access Australia’s Medicare health care scheme.
• Citizenship Pathway: Become eligible for Australian citizenship if you meet the criteria.

Streams Under Subclass 888

Business Innovation Stream

For individuals managing a business in Australia with evidence of sustained success.

Investor Stream

For holders of a Subclass 188 (Provisional) visa who have maintained an investment of AUD 1.5 million.

Significant Investor Stream

For individuals who have invested at least AUD 5 million in Australia while holding a Subclass 188 visa.

Premium Investor Stream

For those with an investment of at least AUD 15 million in premium Australian investments.

Entrepreneur Stream

For entrepreneurs with a proven record of successful ventures in Australia.

Eligibility Criteria for Subclass 888

• Current Nomination: You must be nominated by an Australian state or territory government.
• Business Ownership or Investment: Meet the specific requirements for the stream under which you apply.
• Health and Character: Satisfy health and character requirements as per Australian immigration laws.
• No Outstanding Debts: Ensure there are no outstanding debts to the Australian Government.
• Legal Compliance: Demonstrate compliance with Australian laws, including business and taxation regulations.

Requirements by Stream

Business Innovation Stream

• Operate a successful business in Australia with:
• Minimum annual turnover of AUD 300,000.
• Assets worth AUD 200,000 in the business.
• At least two full-time employees.

Investor Stream

• Maintain an investment of AUD 1.5 million for four years in a state/territory of Australia.
• Reside in Australia for at least two years during the past four years.

Significant Investor Stream

• Hold investments of AUD 5 million.
• Reside in Australia for a minimum of 40 days per year or have your spouse meet this requirement.

Premium Investor Stream

• Invest AUD 15 million in eligible investments.

Entrepreneur Stream

• Demonstrate entrepreneurial success in Australia for at least four years.
• Provide evidence of key success factors such as creating jobs, filing patents, or achieving significant business growth.

Application Process

1. Prepare Documents: Gather all required documents, including proof of business ownership, investments, and financial statements.
2. Submit Online Application: Apply for the visa through the Department of Home Affairs website.
3. Respond to Requests: Provide additional documents if requested by the department.
4. Visa Decision: Receive notification of your visa outcome, including grant number and conditions.

Processing Times

Why Choose Global Vision Migration?

Navigating the application process for the Business Innovation and Investment Visa Subclass 888 can be complex. At Global Vision Migration, our experienced team provides:

• Comprehensive guidance for your visa application.
• Tailored advice for your specific stream requirements.
• Assistance with preparing documentation and meeting eligibility criteria.

Disclaimer: This content is for general guidance only and does not constitute legal advice. For the most accurate and up-to-date information, visit the Business Innovation and Investment (Permanent) visa (Subclass 888).