BUSINESS INNOVATION and INVESTMENT (SUBCLASS 888) - Permanent

Visa 888 is a permanent business visa only for those who have been living in Australia on a provisional visa 188.

It is sponsored by the same Australian state / territory government that sponsored the applicant’s provisional visa, the sate/territory can impose additional conditions on top of DHA terms. This is the final second stage of the same five streams:

  • the Business Innovation stream
  • the Investor stream AUD 1.5 million
  • the Significant Investor stream AUD 5 million
  • the Premium Investor stream AUD 15 million
  • Entrepreneur stream
Visa conditions

In order to be able to apply for visa 888, you must:

  • be the main holder of a provisional business visa 188;
  • not be involved in illegal business or investment activities;
  • be nominated by the Australian state / territory;
  • meet the conditions of visa 888 in the specific stream:
  • have a provisional visa 188 and reside in Australia for at least 1 year before applying for visa 888;
  • manage your business in Australia for at least 2 years before applying;
  • have a turnover of business (or two businesses in total) of at least $ 300,000 for 1 year before visa application;
  • own at least 30% of the business if the company's turnover exceeds $ 400,000, or at least 51%, if the company's turnover is less than $ 400,000, or 10% if the company is a publicly listed;
  • be nominated by state/territory government;
  • also, any two of the following three conditions must be met:
  1. Net business assets (or two businesses in total) must be at least $ 200,000 for 1 year before applying;
  2. The applicant's total assets (including business assets) must be at least $ 600,000 for 1 year prior to filing the application;
  3. Full-time employment for a period of 1 year before the application (or equivalent part-time employment) of at least 2 people who are Australian citizens, permanent residents or citizens of New Zealand and are not family members of the applicant.
  • hold a provisional visa 188 and reside in Australia for at least 2 years out of 4 before applying for visa 888;
  • hold state/territory bonds, that were bought as a condition of a provisional visa 188, for 4 years;
  • comply with Australian laws and not be involved in inappropriate business or investment activities;
  • fulfil the additional obligations imposed by the the sponsoring state/territory when applying for visa 188;
  • have a genuine and reasonable intention to continue business or investment activities in Australia after obtaining a permanent business visa.
  • hold a provisional visa 188 and reside in Australia for at least 40 days per year (in total), or your spouse has been in Australia for at least 180 days per year;
  • 4 years of appropriate investment during the validity of your visa.
  • Hold investment package in Australian assets continuously for at least 1 year, and throughout this time hold preliminary visa 188.
  • Reside in Australia on preliminary visa 188 not less than two out of four years immediately before the application;
  • Demonstrate successful entrepreneurial activities in Australia;
  • Success of your activities will be measured by a combination of key and additional factors. You will need to demonstrate at least two key success factors or combinations of one key success factor and three additional factors;
  • The key success factors are:
  • Hiring of two or more Australian permanent residents or other persons entitled to work
  • Creating an annual turnover of at least A $ 300,000
  • Submission of a preliminary patent or an acquisition of a standard or innovative patent
  • Securing permanent financing or investment in your business
  • Entering into partnership with the university
  • Sale of the company in the amount of 2 000 000 Australian dollars
  • The availability of net assets (including net business assets and investment funds) of at least $ 2.25 million at the time of applying for a business visa (there is no requirement for the immediate transfer of these assets to Australia, but they must be legally acquired and able to be transferred to Australia within 2 years after receiving a business visa).
  • Additional success factors include:
  • Diversification of business activities in other business areas
  • Commendable letter from the state or territory government for the successes achieved
  • Sponsorship from a corporate sector
  • Starting at least one other business or participating in at least two other businesses
  • Official awards or recognition
  • Raising or contributing to social capital.
  • The availability of net assets (including net business assets and investment funds) of at least $ 2.25 million at the time of applying for a business visa (there is no requirement for the immediate transfer of these assets to Australia, but they must be legally acquired and able to be transferred to Australia within 2 years after receiving a business visa).
  • Entrepreneurship activity must not relate to any of the following excluded categories:
  • Residential real estate
  • Labour hire
  • Purchase of an existing enterprise or a franchise in Australia.
There are 7 business & invest stream programs to Australia. In this video we grouped them into 3 clear categories and explained the minimum requirements for each category.