Subclass 888 Visa Business and Investment

This visa allows an applicant who is holder of Subclass 188 visa, to continue to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia, and become permanent resident in Australia.

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Business Innovation and Investment Subclass 888 Visa

Business and Innovation (Class EC) Subclass 888 Visa

This visa allows an applicant who is holder of Subclass 188 visa, to continue to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia, and become permanent resident in Australia.

Business Innovation Stream

This visa lets holders of a Business Innovation and Investment Visa Subclass 188 in the 'Business Innovation Stream' or the 'Business Innovation Extension Stream', or holders of a Subclass 444 (Special Category) Visa, or certain holders of a Business Long Stay Visa Subclass 457, stay permanently in Australia.

Investor Stream

This visa lets you as a holder of Subclass 188 Investor Stream visa to continue your investment activities in Australia, and live permanently in Australia.

Significant Investor Stream

This visa lets you as a holder of Subclass 188 Significant Investor Stream visa to continue your significant investment activities in Australia, and live permanently in Australia.

Premium Investor Stream

This visa lets you as a holder of Subclass 188 Investor Stream visa to continue your premium investment activities in Australia, and live permanently in Australia.

Entrepreneur Stream

You must hold, or, in some cases, must have held, a Business Innovation and Investment Visa Subclass 188 in the 'Entrepreneur Stream', and have demonstrated overall a successful record of undertaking entrepreneurial activities in Australia while holding the Subclass 188 Visa, and have a current nomination from an Australian State or Territory.

Subclass 888 Application Fees

Base Application Charge: A$3,400; Additional Applicant who is at least 18: A$1,705; Additional Applicant who is less than 18: A$850.

Subclass 888 Visa Eligibility

Business Innovation Stream Eligibility

You must already hold, or in certain cases must have held a Business Innovation and Investment Visa Subclass 188 in the 'Business Innovation Stream', or in the 'Business Innovation Extension Stream', or a Special Category visa, or in some cases, a Subclass 457 Visa. You will need to meet business requirements of Subclass 188 visa, and have a current nomination from an Australian state or territory government agency.

Investor Stream

You must already hold, or, in some cases, must have held, a Business Innovation and Investment Visa Subclass 188 in the Investor Stream, and meet Subclass 188 Investor Stream investment requirements related to your provisional visa, and have a current nomination from an Australian state or territory.

Significant Investor Stream

You either hold, or for some people, must have held, a Business Innovation and Investment Visa Subclass 188 in the 'Significant Investor Stream' or 'Significant Investor Extension Stream', and continue to hold your complying investment or complying significant investment, as required for your Subclass 188 Visa, during the period of that visa, and have a current nomination from a state or territory government agency or Austrade which has not been withdrawn.

Premium Investor Stream

You either hold a Business Innovation and Investment Visa Subclass 188 in the Premium Investor Stream, and meet investment requirements related to your Subclass 188 visa, and have a current nomination from Austrade which has not been withdrawn.

Entrepreneur Stream

You must hold, or, in some cases, must have held, a Subclass 188 Visa in the Entrepreneur Stream; have demonstrated overall a successful record of undertaking entrepreneurial activities in Australia while holding the Subclass 188 Visa; and have a current nomination from an Australian State or Territory.

Subclass 888 Processing Time

Business Innovation Stream: 24 - 24 Months, Investor Stream: 23 - 24 Months, Significant Investor Stream: 26 - 27 Months, Premium Investor Stream: Processing time not available, Entrepreneur Stream: Processing time not available.

Subclass 888 Business Details

Have an Annual Business Turnover of A$300,000

Your main business or businesses (or that of your partner), had an annual turnover of at least A$300,000 in the 12 months immediately before the application was made. You might not need to have a turnover of A$300,000 if the nominating State or Territory government agency has determined that there are exceptional circumstances.

Own and Manage a Business in Australia

For the 2 years immediately before you apply, you must have:
- had, and continue to have, an ownership interest in up to two main businesses in Australia;
- had a direct and continuous management role in that business or businesses;
- submitted Business Activity Statements to the Australian Taxation Office;
- an Australian Business Number for each of your main businesses.
For the 24 months immediately before you apply, you must own at least:
- 51% of the total value of a business with a turnover of less than A$400,000 per year; or
- 30% of the total value of a business with a turnover of A$400,000 or more per year; or
- 10% of the total value of a business that is operated by a publicly listed company.

Business Acquisition

If you bought your main business (or businesses) from a person who applied for or held: a Business Innovation and Investment Visa or a permanent Business Skills Visa (in Subclass 890, 891, 892 or 893), then at the time of the acquisition, you must show that you and that person co-owned the business for at least 1 year before you apply.

Meet the Assets and Employees Requirement

For the 12 months immediately before you apply, you or your partner (or you and your partner together) must show at least 2 of the following: Assets of A$200,000 net value in your main business (or 2 main businesses) in Australia; Personal and business assets in Australia of A$600,000 net value; Equivalent of at least 2 full-time eligible employees in your main business.
If you want to meet the employee rule, your employees must work in your main business (or main businesses) and: Be Australian citizens, Australian permanent residents, or holders of valid New Zealand passports; Not be members of your family.
You might not need to meet the assets and employees requirement if the nominating State or Territory government agency has determined that there are exceptional circumstances.

Subclass 888 Visa Frequently Asked Questions

What is 888 visa?

This visa allows an applicant who is holder of Subclass 188 visa, to continue to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia, and become permanent resident in Australia.

Other Business and Investment Visas

Business and Innovation Subclass 188 Visa

This subclass 188 visa allows you to own, manage, conduct business and investment activity in Australia.

Business Talent Subclass 132 Visa

This subclass 132 visa is for experienced business owners or for those who have sourced venture capital funding from (AIC).

Contact us for Consultation

Find out how we can help you to study, visit, live, work, invest and/or do business in Australia.

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We acknowledge the traditional custodians of country throughout Australia and their continuing connection to land, sea and community. We pay our respects to all Aboriginal and Torres Strait Islander peoples, their cultures; and to their Elders of past and present.

Disclaimer

We are independent consulting entities which are not associated in any way with the Australian ‘Department of Home Affairs’ (DOHA). Information on this website does not constitute personal migration advice. For a customized migration advice based on your personal circumstances, please call and talk to one of our Immigration Consultants or register your interest with our Associates.