Business Innovation and Investment (Permanent) Visa

Visa 888 Australia is for entrepreneurs, business owners and investors to continue their business or investment activity in Australia. The Business Innovation and Investment (Permanent) visa is granted to those who hold a four-year Business Innovation and Investment (Provisional) visa subclass 188.

What does Business Innovation and Investment visa let you do?

The Business Innovation and Investment (Permanent) visa Australia lets you stay in Australia permanently as this is a permanent visa. It allows an applicant to permanently live, work and study in Australia. It also enables an applicant to continue to conduct business or investment activity in Australia. With this visa, you can enrol in Australia's public health care scheme. You can also sponsor relatives to come to Australia. In case eligible, you can apply for citizenship of Australia. The visa also lets you travel to and from Australia for five years.

What Are Different Types of Business Innovation and Investment (Permanent) Visa Streams?

Business Innovation Stream

The Business Innovation and Investment (Permanent) visa Business Innovation stream allows holders of visa 188 in the Business Innovation stream or in the Business Innovation Extension stream, or subclass 444 (Special Category) visa holders, or certain visa subclass 457 (Business (Long Stay)) holders, to stay in Australia permanently. To be eligible, the applicant must have a current nomination from an Australian state or territory government agency. The Business Innovation and Investment (Permanent) visa applicant must own and manage a business in Australia with an annual business turnover of AUD 300,000. Moreover, the applicant and their partner (or the applicant and their partner together) must meet the assets and employees' requirements.

Investor Stream

Visa 888 Australia enables you to continue your investment activities in Australia permanently. To be eligible for this visa, the applicant must be the primary holder of a visa subclass 188 in the Investor stream. A person can also apply if they are the secondary visa holder of a subclass 188 visa and their spouse/de facto partner is the primary visa 188 holder in the Investor stream. Moreover, the Business Innovation and Investment (Permanent) visa applicant must have a current nomination from an Australian state or territory. The applicant must also have held their complying significant investment and the designated investment.

Significant Investor Stream

Business Innovation and Investment (Permanent) visa allows you to continue your investment activities in Australia permanently. To be eligible for this visa, the applicant must have a visa 188 Australia in the Significant Investor Stream, or a visa 188 Australia in the Significant Investor Extension stream, or the Business Innovation and Investment (Provisional) visa granted because the individual is the spouse/de facto partner of a person holding a visa 188 Australia in the Significant Investor stream or visa 188 in Significant Investor Extension stream. Moreover, the Business Innovation and Investment (Permanent) visa applicant must have a current nomination from Austrade or an Australian state or territory government agency. The applicant must have held their complying investment or complying significant investment for the required period of time.

Premium Investor Stream

The Business Innovation and Investment (Permanent) visa Premium Investor stream allows you to continue your investment activities in Australia permanently. To be eligible for this visa, the applicant must be a primary holder of a visa 188 Australia in the Premium Investor stream, or they must be the holder of a visa 188 granted because they are the de facto partner/spouse of a person who held a visa 188 in the Premium Investor stream, and you have ceased to be the spouse/de facto partner of the person or the person has died. Additionally, the applicant must have a current nomination from Austrade. Moreover, the complying premium investments must be held by the applicant for the required time period.

Entrepreneur Stream

The Business Innovation and Investor (Permanent) visa Entrepreneur stream allows the holders and, in certain cases, people who have held a visa 188 in the Entrepreneur stream to stay permanently in Australia. To be eligible for this visa, the applicant must have held visa 188 in the Entrepreneur stream. Moreover, the applicant must have a current nomination from either an Australian State or Territory government agency. Additionally, the applicant must have a successful record of entrepreneurial activities.

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What Are the Common Eligibility Requirements for Visa Subclass 888?

Have Obeyed Australian Laws

When operating the business in Australia, the applicant and their partner must have followed the Commonwealth laws and the states or territories laws where their business is operated. It includes laws about workplace relations, taxation, and superannuation.

Know Functional English

The applicant must have functional English.

Meet The Residence Requirement

The applicant must meet the residence requirement except under the Premium Investor Stream.

Non-Involvement in Unacceptable Business Activities.

The visa 888 Australia applicant and their partner must not be involved in any unacceptable business or investment activities.

Commitment To Continue Business Activities in Australia

The person applying for Business Innovation and Investment (Permanent) visa must have a realistic commitment to continue business and investment activities in Australia.

Meet Health Requirements

The applicant and their family members who are applying for visa 888 Australia must meet the health requirements.

Meet Character Requirement

The applicant and any family member aged 16 years and over applying for the visa subclass 888 with them must meet the character requirement.

Pay Back the Debt to the Government of Australia

The individual must have paid or have a formal arrangement to pay back their debt to the Australian government.

Previous Visa Cancellation or Refusal

The applicant must not have a visa cancelled or a previous application refused.

Sign the Australian Values Statement

If the applicant and the family members who have applied for the visa are 18 years of age or older, then they must sign the Australian Values statement.

Cost for Business Innovation and Investment (Permanent) Visa?

Please visit Australian government site for current Visa Cost

Processing time for Business Innovation and Investment (Permanent) Visa?

Processing time for this visa can vary. Please visit Australian government site for current. Processing Times

How To Apply for Business Innovation and Investment (Permanent) Visa Subclass 888?

To become eligible for the Business Innovation and Investment (Permanent) Visa, a person must hold a relevant stream of the visa subclass 188 or, in relation to applications for a visa subclass 888 in the Business Innovation stream, hold a relevant stream of the visa subclass 188, or a visa subclass 457 (Business (Long Stay)), or a visa subclass 444 (Special Category) visa granted in certain circumstances. The applicant must be in Australia or outside Australia when they apply and when their Business Innovation and Investment (Permanent) visa application is decided upon but not in immigration clearance.

How Can Way2Oz Help You Apply Business Innovation and Investment (Permanent) Visa ?

Way2Oz can help you in applying for a visa under the Business Innovation and Investment (Permanent) visa subclass 888. At Way2Oz, our highly experienced migration agents guide individuals and businesses through the complex immigration process. We leverage our experience to provide accurate and genuine advice to our esteemed clients. Our immigration agents assist you in preparing and reviewing the documents and forms before submitting them for successful visa approval. We aim to make the entire immigration process hassle-free and smooth. Contact us today to book a consultation with our registered immigration agents to learn more about your visa options.