888 Business Innovation and Investment Visa (Permanent)
AIS Immigration Solutions can help guide you through the application process for your 888 Business Innovation and Investment (Permanent) visa. We are a team of qualified migration agents based in Brisbane and we provide a range of visa application services including consulting and guidance. Get in touch with us on +61 7 3216 0052 or book a one-on-one Skype meeting to discuss how we can help you secure your permanent residency in Australia.
Subclass 888 Business Visa Features:
The 888 Business visa is the second stage of the Business Innovation and Investment (provisional) visa subclass 188. You can apply for it once you have fulfilled the requirements in your provisional 188 business visa.
The 888 residency visa requires you to be nominated by a state or territory government agency or by Austrade on behalf of the Australian government. You do not need to submit a new Expression of Interest or be invited to apply for this visa.
If you are the holder of a provisional Business Innovation and Investment visa (subclass 188) and the government entity which nominated you for that visa has not withdrawn the nomination, you have a current nomination by that government entity.
If you are the holder of a Special Category visa (subclass 444), or require nomination from a different nominator than your provisional Business Innovation and Investment visa (subclass 188) you are required to obtain nomination from a state or territory or Austrade on behalf of the Australian government before you lodge an application for this visa.
The Business Innovation and Investment (Permanent) visa (subclass 888) allows you to manage your business and investments in Australia. This is a permanent residence visa. It lets you and any family members who have also been granted this visa:
- Stay in Australia indefinitely
- Work and study in Australia
- Enrol in Medicare, Australia’s scheme for health-related care and expenses
- Apply for Australian citizenship (if you are eligible)
- Sponsor eligible relatives for permanent residence
- Travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia)
188C Visa Eligibility:
You might be able to apply for this visa if you are the primary visa holder of a provisional Business Innovation and Investment visa (subclass 188) and have met all the requirements of your provisional Business Innovation and Investment visa in the stream in which you first applied. You may also be eligible to apply if you are the secondary visa holder who is the spouse or de facto partner of a provisional Business Innovation and Investment visa (subclass 188) in the Investor or Business Innovation stream and have met all the primary criteria of provisional Business Innovation and Investment visa in the stream in which you first applied.
Anyone who holds a Special Category visa (subclass 444) or a Business (Long stay) visa (subclass 457IE) and have met the requirements of the business innovation stream may also be eligible to apply.
- You and your partner have a satisfactory record of complying with Commonwealth laws, and of each State or Territory in which you operate a business and employ employees in the business, relating to your business,
- You have been nominated by an Australian state or territory or by Austrde on behalf of the Australian government,
- You and all your family members meet health and character requirements – you do not need to prove this again if you have already done this for the provisional Business Innovation and Investment visa (subclass 188),
- Have a realistic commitment to maintain business or investment activities in Australia.
Other requirements depend on the stream in which you held your provisional Business Innovation and Investment visa (subclass 188) – we have listed the criteria for both streams in the table below:
|Criteria||The Business Innovation Stream – 888 visa|
|Business Activity||Evidence of at least 2 years continuous qualifying business and commitment to continue your business activity in Australia.|
|Ownership Interest||Continuous ownership interest in a main business or businesses throughout the period of at least 2 years preceding application (see 188 visa for detail).|
|Ownership interest from another previous business skills visa applicant or visa holders may not be eligible to apply.|
|Management Role||In each of the 2 yrs preceding application has maintained direct and continuous involvement in management of the business fr day to day at a senior level, and has made decisions affecting the overall performance and direction of the business.|
|Annual Turnover||At least A$300,000 in the 12 months before application.|
|Applicant must meet two out of the three of the following criteria:|
|1) Net Business Assets in Australia||At least A$200,000 throughout the 12 months immediately before application was made; and continue to have that and were lawfully acquired.|
|2) Number of Employees||At least equivalent 2 full-time employees in business who are Aust citizens, PR or NZ passport holders, but not including MFU’s for 12 mths prior to application.|
|3) Net Total Assets in Australia||At least A$600,000 throughout the 12 months ending immediately before the application was made; and continue to have that, and were lawfully acquired|
|Evidence of compliance with Aust Tax Law||Must demonstrate that each business has an ABN and all BAS have been lodged for the 2 year period in business.|
|Presence in Australia||At least a total of 12 months in the previous 2 years physically in Aust immediately prior to application as holder of a 188 holder under the Business Innovation Stream or Extension Stream.|
|Business Background||No record of involvement in activities not generally acceptable in Australia.|
|Qualifying visa||Must hold a Business Innovation visa at time of application as the primary applicant.|
|Criteria||The Investor Stream – 888 visa|
|Designated Investment||Evidence you have held a Designated Investment of A$1.5 million for 4 years.|
|Business or Investment record||Provide information of your business or investment activities in Australia. e.g. a summary of any activities undertaken in Australia in addition to holding the Designated Investment to current date and include future plans.|
|Residence Requirement & qualifying visa||You must have lived in Australia as a subclass 188 holder under the Investor Stream for a total of at least 2 years in the 4 years immediately prior to lodging your 888 visa. The 2 year period in Australia does not need to be continuous.
Failure to meet this criterion may lead to your application being refused regardless of the performance of your business(es)
General Australian Visa Requirements:
You must meet certain health requirements. However, most applicants for this visa will not be required to complete additional health examinations. Do not arrange a health examination until we ask you to.
You must meet certain character requirements. You must be prepared to provide a police certificate from each country you have lived in for 12 months or more during the past 10 years after you turned 16 years of age. Do not arrange for police certificates until we ask you to.
This applies to you and all the dependent family members listed in your application, whether they are migrating or not.
Debts to the Australian Government:
You must have no outstanding debts to the Australian Government or have arranged to repay any outstanding debts to the Australian Government before this visa can be granted.
Is this visa right for me?
If you need assistance determining if your circumstances are suitable for the 888 Business Innovation and Investment (Permanent) visa, or if you would like help with the application process, get in touch with AIS Immigration Solutions today or book a Skype meeting.
Speak to one of our helpful migration assistants today on +61 7 3216 0052 or send us an enquiry for help in obtaining your 888 Permanent Business visa.