Subclass 888 – Business Innovation and Investment (Permanent) Visa
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Subclass 888 – Business Innovation and Investment (Permanent) Visa
This is a permanent visa that allows Business Innovation and Investment (Provisional) visa holders to live in Australia permanently to carry out their business activities.
This permanent visa has the following streams:
Subclass 888 – Business Innovation Stream
This is a permanent visa stream that allows Business Innovation and Investment (Provisional) visa holders in the Business Innovation stream or subclass 444 visa holders or certain subclass 457 visa holders to live in Australia permanently to carry out their business activities.
Eligibility
Applicant must:
- Own or manage a business at least for 2 recent years
- Meet the assets, employment and residence requirement
- Hold Business Innovation and Investment (Provisional) visa in the Business Innovation stream or subclass 444, or subclass 457 (in certain conditions)
- Have current nomination from the state or territory government
- Have functional English
- Meet health and character requirement
Subclass 888 – Investor Stream
This is a permanent visa stream that allows Business Innovation and Investment (Provisional) visa holders in the investor stream to live in Australia permanently to carry out their business and investment activities.
Eligibility
Applicant must:
- Have maintained the investment of AUD 1.5 million for at least 4 years in Australian state or territory
- Hold Business Innovation and Investment (Provisional) visa in the Investor stream
- Meet the assets, employment and residence requirement
- Hold Business Innovation and Investment (Provisional) visa in the Business Innovation stream or subclass 444, or subclass 457 (in certain conditions)
- Have current nomination from the state or territory government
- Have functional English
- Meet health and character requirement
Subclass 888 – Significant Investor Stream
This is a permanent visa stream that allows Business Innovation and Investment (Provisional) visa holders in the Significant investor stream to live in Australia permanently to carry out their business and investment activities.
Eligibility
Applicant must:
- Have maintained the complying investment of AUD 5 million for 4 years in Australian state or territory
- Hold Business Innovation and Investment (Provisional) visa in the Significant Investor stream
- Meet the business, investment and residence requirement
- Have current nomination from the state or territory government
- Have functional English
- Meet health and character requirement
Subclass 888 – Premium Investor Stream
This is a permanent visa stream that allows those people who held Business Innovation and Investment (Provisional) visa holders in the Premium investor stream for 12 months to live in Australia permanently to carry out their business and investment activities.
Eligibility
Applicant must:
- Have maintained the complying investment of AUD 15 million for the duration of holding the provisional visa
- Held the Business Innovation and Investment (Provisional) visa in the Premium Investor stream for 12 months
- Have current nomination from Austrade
- Have functional English
- Meet health and character requirement
Subclass 888 – Entrepreneur Stream
This is a permanent visa stream that allows those people who held Business Innovation and Investment (Provisional) visa in the Entrepreneur stream for 2 years to live in Australia permanently to carry out their entrepreneurial activities.
Eligibility
Applicant must:
- Held the Business Innovation and Investment (Provisional) visa in the Entrepreneur stream for 4 years
- Have a successful record of maintaining entrepreneurial activities
- Have current nomination from the state or territory government
- Have functional English
- Meet health and character requirement
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Nasir Nawaz is a Registered Migration Consultant. University of New South Wales postgraduate with Law specialization in Dispute Resolution and having Graduate Certificate in Migration Law and Practice. He has passion about different fields of law and his diverse experience spans Psychology, Dispute Resolution and immigration law.