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 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$2935, Additional Applicant who is at least 18: A$1470, Additional Applicant who is less than 18: A$730.

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 Subclasses 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 Residence Details

Meet the Residence Requirement for Business Innovation and Investment Visa Subclass 188

You must meet one of the residence requirements below. Unless COVID-19 concessions apply, you must have been physically present in Australia for at least 1 year in the 2 years immediately before you apply if you are the holder of a:

Business Innovation and Investment Visa Subclass 188 in 'Business Innovation Stream' and you were invited to apply before 1 July 2021; Special Category Visa (SCV) Subclass 444 and your visa was granted before 1 July 2021; Business Innovation and Investment Visa Subclass 188 in 'Business Innovation Extension Stream' and you were invited to apply for your original Subclass 188 Visa in 'Business Innovation Stream' before 1 July 2021; or In certain cases, a subclass 457 visa.

You must have been physically present in Australia for at least 1 year in the 3 years immediately before you apply if you are the holder of a: Business Innovation and Investment Visa Subclass 188 in 'Business Innovation Stream' and you were invited to apply on or after 1 July 2021; Subclass 188 Visa in 'Business Innovation Extension Stream' and you were invited to apply for your original Subclass 188 Visa in 'Business Innovation Stream' on or after 1 July 2021; Special Category Visa (SCV) Subclass 444 and your visa was granted on or after 1 July 2021.

Unless COVID-19 concessions apply, if you applied for this visa and are the secondary visa holder of a Subclass 188 Visa and your spouse or de facto partner is the primary holder of a Subclass 188 Visa in the 'Business Innovation Stream' or 'Business Innovation Extension Stream' you must have been physically resident in Australia for at least: 1 year in the 3 years immediately before you apply, if your spouse or de facto partner who is the primary visa holder was invited to apply for their original Subclass 188 on or after 1 July 2021; 1 year in the 2 years immediately before you apply, if your spouse or de facto partner who is if the primary visa holder was invited to apply for their original Subclass 188 visa before 1 July 2021.

COVID-19 Concessions for Business Innovation and Investment Visa Subclass 188

Arrangements are in place for provisional visa holders who may have been disadvantaged as a consequence of the COVID-19 pandemic. If you were outside Australia during the ‘COVID-19 concession period’, time spent overseas will count as time being in Australia if you were the holder of one of the following visas either as a primary of secondary via holder during the 'COVID-19 concession period: Subclass 188 Visa in 'Business Innovation Stream'; or Subclass 188 Visa 'Business Innovation Extension Stream'.

From 19 September 2020 until 3 months after the end of the ‘COVID-19 concession period’ you can apply for this visa if you: Held a Subclass 188 in the 'Business Innovation Stream' or 'Business Innovation Extension Stream' which expired during the concession period; or Your visa expired during the concession period and your spouse or de facto partner was the primary holder of a Subclass 188 Visa in the 'Business Innovation Stream or 'Business Innovation Extension Stream'. Your first Business Innovation and Investment Visa Subclass 188 in the 'Business Innovation Stream' must have been granted on or before 30 June 2019.

Subclass 888 Visa Document Checklist

For all Applicants to be included in the application

1. Identity documents such as passport, birth certificate, proof of name change such as marriage or divorce certificate.
2. If you are or have been married, widowed, divorced or permanently separated, provide proof such as marriage certificates, divorce documents, death certificates, separation documents or statutory declarations.
3. Provide an overseas police certificate from every country, including your home country, where you spent a total of 12 months or more in the last 10 years since you turned 16, any military service records or discharge papers if you served in the armed forces of any country.
4. Passport size photographs.

For Primary Applicant

5. All academic certificates and transcripts.
6. Employment reference letters and evidence of payslips.
7. English test results such as IELTS or PTE Academic or TOEFL or OET.
8. Any professional registration or license certificate.
9. Your curriculum vitae or resume that includes your full employment and educational history, including dates and positions held within last ten years.
10. Bank statements, tax records and superannuation record (If Skills Assessment is required).

All documents are to be color pdf files. Where documents are not in english, an authorised translated version needs to be provided.