- admissions.india@elixirgroup.in
Call Now
+91 7801033358
+91 7801033358
The 888 Business Innovation and Investment (Permanent) Visa is a pathway for entrepreneurs and investors to gain permanent residency in Australia. To qualify for this visa, you must:
👉 Nomination Requirement: Be nominated by an Australian state or territory government, or by the Australian government itself.
👉 Visa Eligibility:
✔️ You must either hold a provisional Business Innovation and Investment visa (subclass 188) and meet all the requirements under the same stream in which you initially applied,
✔️ Or, hold a Special Category visa (subclass 444) or a Business (Long Stay) visa (subclass 457IE), fulfilling all necessary requirements for the business innovation stream.
This visa offers several benefits, allowing holders to:
👉 Manage and Own a Business in Australia: Under the Business Innovation stream, visa holders can continue running and managing their businesses within Australia.
👉 Conduct Business and Investment Activities: For those in the Investor, Significant Investor, or Premium Investor streams, this visa enables ongoing business and investment activities in Australia, supporting further economic contributions and growth.
This permanent visa supports both business continuity and expansion in Australia, helping entrepreneurs and investors build a stable foundation for their professional future in the country.
The Business Innovation and Investment (Permanent) Visa (subclass 888) is the second stage of Australia’s Business Innovation and Investment (Provisional) Visa (subclass 188). If you’ve met the requirements of your provisional visa, you’re eligible to apply for this permanent visa without submitting a new Expression of Interest (EOI) or waiting for an invitation.
Nomination:
👉 To apply, you need a nomination from a state or territory government agency or from Austrade, representing the Australian government.
👉 If you hold a provisional Business Innovation and Investment Visa (subclass 188) and the government agency that nominated you initially has not withdrawn its nomination, your current nomination remains valid.
👉 If you hold a Special Category Visa (subclass 444) or if you need a different nominator than the one for your provisional visa, you must obtain a new nomination from a state, territory, or Austrade before applying.
This permanent visa allows you to continue managing your business and investments in Australia and provides significant benefits for you and your family:
👉 Permanent Residency: Stay in Australia indefinitely, with all the stability and opportunities of permanent residency.
👉 Work and Study Rights: Engage in employment or educational pursuits freely across Australia.
👉 Access to Medicare: Enrol in Medicare, Australia’s national health care scheme, covering a wide range of health-related expenses.
👉 Pathway to Citizenship: After meeting the residency and other eligibility criteria, you can apply for Australian citizenship.
👉 Family Sponsorship: Sponsor eligible family members for permanent residency in Australia.
👉 Travel Flexibility: Travel to and from Australia freely for five years from the date the visa is granted. After five years, a resident return visa or other travel visa will be needed for re-entry.
The subclass 888 visa is a valuable pathway to permanent residency for entrepreneurs and investors who wish to build a lasting future in Australia.
If you’re applying for the Business Innovation stream under the Business Innovation and Investment (Permanent) Visa (subclass 888), there are specific residency, business, and financial requirements that you need to meet. Here’s a breakdown of these requirements to guide you through the process.
To qualify, you must have been in Australia for at least one of the two years immediately prior to your application. During this time, you should have held one of the following visas:
👉 A Business Innovation and Investment (Provisional) Visa (subclass 188) in either the Business Innovation stream or the Business Innovation Extension stream
👉 A Special Category Visa (subclass 444)
👉 A Business (Long Stay) Visa (subclass 457IE)
To prove your eligibility, you must show ongoing business involvement in Australia and meet specific ownership and financial standards. These requirements include:
Ongoing Business Involvement:
You (or you and your partner jointly) must have an ownership interest in one or more actively operating businesses in Australia.
You should also demonstrate a direct, continuous management role in these businesses for the two years immediately before applying.
Annual Turnover Requirement:
Your main business (or businesses) in Australia should have an annual turnover of at least AUD 300,000 in the 12 months before applying.
If you operate in a designated regional area, this turnover requirement may be waived with agreement from your nominating state or territory.
Ownership Percentage:
You must hold at least one of the following ownership percentages in your main business (or businesses) in the year before applying:
51% of a business with a turnover below AUD 400,000 per year
30% of a business with a turnover of AUD 400,000 or more per year
10% of a publicly listed company
Business Registration and Compliance:
You need an Australian Business Number (ABN) for each of your main businesses.
For two years before applying, you must have submitted Business Activity Statements (BAS) to the Australian Taxation Office.
Ownership Acquisition Conditions:
Your ownership in your main business (or businesses) cannot be from an applicant or holder of a permanent Business Innovation and Investment Visa (subclass 888) or other specified business skills visas, unless you held a joint interest in the business with that person for at least one year before applying.
You (or you and your partner together) must meet at least two of the following conditions:
Business Asset Value:
Your main business (or businesses) must have a net asset value of at least AUD 200,000 throughout the year before you apply.
Combined Asset Value:
Your personal and business assets in Australia must have a combined net value of at least AUD 600,000 for the entire year immediately prior to your application.
Employment Requirement:
✔️Your business must have employed the equivalent of at least two full-time employees for the year before you apply. These employees must be:
✔️ Australian citizens, permanent residents, or New Zealand passport holders
✔️ Not members of your family
This visa pathway supports successful business owners in building a secure, long-term presence in Australia while contributing to the country’s economy and workforce.
The 888 Investor Stream is a permanent visa option under the Business Innovation and Investment (Permanent) Visa (subclass 888) designed for individuals who have held the Investor Stream of the Business Innovation and Investment (Provisional) Visa (subclass 188). This visa allows investors who meet certain financial and residency requirements to gain permanent residency in Australia.
If you’re applying for the 888 Investor Stream Visa, there are specific residency and investment requirements that you need to meet to qualify:
Residency Requirement:
You must have been physically present in Australia and held your Business Innovation and Investment (Provisional) Visa (subclass 188) in the Investor Stream for at least two out of the four years immediately before your application.
Designated Investment Requirement:
You (or you and your partner jointly) must have maintained a designated investment of at least AUD 1.5 million with an Australian state or territory for a minimum of four years. This investment must align with the conditions of your provisional visa.
Meeting these criteria is essential to qualify for the permanent residency benefits offered by the 888 Investor Stream Visa, allowing you to continue your life and investments in Australia on a permanent basis.
If you’re applying for a Business Innovation and Investment (Permanent) Visa (subclass 888) in the Significant Investor stream, there are specific residency, investment, and timing requirements to qualify for this permanent visa.
Eligibility Criteria for the Significant Investor Stream
Visa Holding Requirement:
✔️ At the time of application, you must hold a Business Innovation and Investment (Provisional) Visa (subclass 188) in either the Significant Investor stream or the Significant Investor Extension stream.
Residency Requirement:
✔️ You must have been in Australia as the holder of a provisional 188 Visa in the Significant Investor stream or its extension for at least 40 days per year (calculated cumulatively) for the duration of your provisional visa.
✔️ Alternatively, if you are the primary applicant, your spouse can fulfill this requirement by living in Australia for at least 180 days per year (calculated cumulatively) during the period you have held your provisional visa(s).
Investment Requirement:
✔️ You (or you and your partner together) must have held complying investments continuously for at least four years while holding your provisional 188 Visa.
✔️ If applicable, you should also have operated a qualifying business under a private Australian company in which you made a direct complying investment.
Application Timing:
✔️ The specific rules that applied when you initially applied for your subclass 188 Visa in the Significant Investor stream will also apply when your subclass 888 Visa application is assessed.
✔️ If you applied for your provisional 188 Visa before 1 July 2015, you are eligible to apply for the subclass 888 Visa after holding the provisional visa for 3 years and 11 months.
✔️ If you applied after 1 July 2015, you must hold the provisional visa for a minimum of 4 years before applying for the subclass 888 Visa.
The Significant Investor stream under the subclass 888 Visa allows you to gain permanent residency in Australia while continuing to grow and manage your investments, providing stability and long-term benefits for you and your family.
