888 (Business innovation and investment (permanent) Visa

The Business Innovation and Investment (Permanent) Visa (Subclass 888) has 5 visa streams:

• Business Innovation Stream
• Investor Stream
• Significant Investor Stream
• Premium Investor Stream
• Entrepreneur Stream

Features:

• Stay in Australia permanently
• Travel to and from Australia for 5 years
• Enroll in Medicare – Australia’s public healthcare scheme
• Work and study in Australia
• Sponsor relatives to come to Australia
• Apply for permanent residency if eligible

The Business Innovation Stream (Subclass 888) allows the holders of the Business Innovation and Investment (Provisional) Visa (Subclass 188) in the Business Innovation Stream or the Business Innovation Extension Stream, or holders of the Subclass 444 (Special Category) Visa, or holders of the Subclass 457 (Business (Long Stay)) Visa, to permanently reside in Australia.

Eligibility

• Own and manage a business in Australia
• Have an annual business turnover of AUD300,000
• Have a nomination from a state/territory government agency
• Have functional English
• Meet the resident requirement
• Not have been involved in unacceptable business activities
• Not have had a visa cancelled or repealed

The Investor Stream (Subclass 888) visa stream allows an individual to continue their investment activities in Australia permanently.

Eligibility

• Must have held your designated investment
• Meet residence requirements
• Not have been involved in unacceptable business or investment activities
• Have functional English
• Not have had a visa cancelled or refused
• Have a realistic commitment to continuing your business or investment activities in Australia

The Significant Investor Stream (Subclass 888) allows individuals to continue their investment activities in Australia permanently.

Eligibility:

• Must have a current nomination from a state or territory government agency or Austrade
• Have a realistic commitment to continuing business or investment activities in Australia
• Have functional English
• Meet the residence requirement

The Premium Investor Stream (Subclass 888) permits individuals to continue their investment activities in Australia permanently.

Eligibility:

• Must have held complying premium investments for the required period of time
• Have a current nomination from Austrade
• Have a realistic and genuine commitment to continuing business or investment activities in Australia
• Have functional English
• Have followed Australian laws
• Not have had a visa cancelled or refused in the past
  The Entrepreneur Stream (Subclass 888) enables holders and sometimes even people who have held a Business Innovation and Investment (Provisional) Visa (Subclass 188) in the Entrepreneur Stream to stay permanently in Australia.

Eligibility:

• Be nominated by a state or territory government agency
• Have a successful record of entrepreneurial activities
• Have functional English
• Have a realistic and genuine commitment to continuing business or investment activities in Australia
• Sign the Australian values statement
• Not have any debt to the Australian government
• Meet the resident requirements