A Comprehensive Guide to the Business Innovation and Investment (Permanent) Visa (Subclass 888)

Australia is one of the most sought-after destinations for entrepreneurs, investors, and business owners looking to expand their business activities and secure permanent residency. The Business Innovation and Investment (Permanent) visa (subclass

888) allows individuals to continue their business or investment ventures in Australia permanently.

In this comprehensive guide, we will explore the various streams available under this visa, their requirements, costs, and processing times.

Business Innovation Stream

This stream is designed for holders of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream, as well as certain holders of the subclass 444 (Special Category) visa and subclass 457 (Business (Long Stay) visa).

Key Features:

Grants permanent residency in Australia.

Requires ongoing business involvement.

The application must be submitted online.

The cost starts from AUD3,400.

Investor Stream

For individuals looking to continue their investment activities in Australia, this stream is ideal. It allows holders of a subclass 188 visa in the Investor stream to stay permanently.

Eligibility Criteria:

Must have held a designated investment of AUD1.5 million for 4 years.

Application must be submitted online.

The cost starts from AUD3,400.

Significant Investor Stream

This stream enables individuals with substantial investments in Australia to gain permanent residency.

Key Requirements:

Must hold a subclass 188 visa in the Significant Investor stream or Significant Investor Extension stream.

Must have held a complying investment of AUD5 million for 4 years.

The application process is online.

The cost starts from AUD3,400.

Premium Investor Stream

This stream is tailored for high-net-worth individuals who have made significant investments in Australia.

Eligibility Criteria:

Must have held a subclass 188 visa in the Premium Investor stream for 12 months.

Must have maintained a complying investment of AUD15 million during the subclass 188 visa duration.

Application must be submitted online.

The cost starts from AUD3,400.

Entrepreneur Stream

This stream is designed for entrepreneurs who have successfully demonstrated innovative business activities in Australia.

Key Features:

Grants permanent residency in Australia.

Must have held a subclass 188 visa in the Entrepreneur stream for 4 years.

Must have lived in Australia for at least 2 years while on the subclass 188 visa.

Must demonstrate a successful record of entrepreneurial activity.

The application process is online.

The cost starts from AUD3,400.

Processing Time

Processing times vary depending on the visa stream and the applicant’s circumstances. Applicants can use the visa processing time guide tool to get an estimated timeline based on recently decided applications.

Final Thoughts

The Business Innovation and Investment (Permanent) visa (subclass 888) provides an excellent opportunity for business owners, investors, and entrepreneurs to establish themselves in Australia permanently. Each stream under this visa category has specific requirements tailored to different types of business and investment activities.

If you are considering applying for this visa, ensure that you meet the eligibility requirements and have all necessary documentation ready. With the right preparation, Australia can be your next home for business growth and financial success.