AllSkills Recruitment & MIgration Services
Business Innovation and Investment (permanent) visa (subclass 888)
About the Visa
Business Innovation stream
This visa lets holders of a Business Innovation and Investment (Provisional) 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 subclass 457 (Business (Long Stay) visa, stay permanently in Australia.
Investor stream
This visa lets you continue your investment activities in Australia permanently.
Significant Investor stream
This visa lets you continue your investment activities in Australia permanently.
Premium investor stream
This visa lets you continue your investment activities in Australia permanently.
Entrepreneur stream
This visa lets holders and, in some cases, people who have held a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream, stay permanently.
Cost
The visa costs AUD3,310.00 for the main applicant.
There is also a charge for each family member who applies for the visa with you.
Any applicant 18 years old or older who has less than functional English must also pay an extra charge unless the applicant has already paid this charge for a previous subclass 188 visa application. This charge is the second instalment charge. Pay it only when we ask you to. We will refund the charge if we do not grant you the visa.
The second instalment charge is AUD4,890.
You only need to pay it for family members who did not pay the second instalment charge for their Business Innovation and Investment (Provisional) visa (subclass 188).
DURATION
This is a permanent visa.
It lets you stay in Australia indefinitely.
You become a permanent resident on the day we grant the visa.
Eligibility Requirements
Business Innovation stream
- Unless COVID-19 concessions apply, you must be the primary holder of a:
- Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream. If you were invited to apply for this visa on or after 1 July 2021, you must have held this visa for at least 3 years, or
- Special Category visa (SCV) (subclass 444). If this visa was granted on or after 1 July 2021, you must have held this visa for at least 3 years, or
- Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream, or
- in certain cases, a subclass 457 visa
- Be nominated
- Own and manage a business in Australia
- Have an annual business turnover of AUD300,000
- Meet the assets and employees requirement
- Have followed Australian laws
- Have at least a functional English language
- Meet the residence requirement
- Not have been involved in unacceptable business activities
- Meet the health requirement
- Meet the character requirement
- Sign the Australian values statement
- Have no debt to the Australian government
- Not have had a visa cancelled or a previous application refused
Investor stream
- Unless COVID-19 concessions apply, you must be the primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream. If you were invited to apply for this visa on or after 1 July 2021, you must have held this visa for at least 3 years.
You can also apply if you are the secondary visa holder of a Business Innovation and Investment (Provisional) visa (subclass 188) and your spouse or de facto partner is the primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream. If your spouse or de facto partner who is the primary visa holder was invited to apply for their original Business Innovation and Investment (Provisional) visa (subclass 188) on or after 1 July 2021, you must have held your visa for at least 3 years.
- Be nominated
- Have held your Complying Significant Investment
- Have held your Designated Investment
- Not have been involved in unacceptable business or investment activities
- Have a realistic commitment to continuing business or investment activities
- Have followed Australian laws
- Have at least a functional English language
- Meet the health requirement
- Meet the character requirement
- Sign the Australian values statement
- Have no debt to the Australian government
- Not have had a visa cancelled or a previous application refused
Significant Investor stream
- Unless COVID-19 concessions apply, you must be the holder of a:
- Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor. If you were invited to apply for this visa on or after 1 July 2021, you must have held this visa for at least 3 years, or
- Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream, or
- Business Innovation and Investment (Provisional) visa (subclass 188) granted on the basis that you were the spouse or de facto partner of a person who held a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream or Significant Investor Extension stream and
- you have held this visa for at least three years if the primary visa holder was invited to apply for their Business Innovation and Investment(Provisional) visa (subclass 188) in the Significant Investor stream or Significant Investor Extension stream on or after 1 July 2021 and
- either you have ceased to be the spouse or de facto partner of the primary visa holder or the primary visa holder has died
- You can also apply if you are the secondary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) and your spouse or de facto partner is the primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream. If the primary visa holder was invited to apply for their original Business Innovation and Investment (Provisional) visa (subclass 188) on or after 1 July 2021, you must have held your visa for at least 3 years.
- Be nominated
- Have held your complying investment or complying significant investment for the required period of time
- Meet the residence requirement
- Not have been involved in unacceptable business or investment activities
- Have a realistic commitment to continuing business or investment
- Have followed Australian laws
- Have at least a functional English language
- Meet the health requirement
- Meet the character requirement
- Sign the Australian values statement
- Have no debt to the Australian government
- Not have had a visa cancelled or a previous application refused
Premium Investor stream
- A primary applicant for the visa must be:
- the primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Premium investor stream.
- the holder of a Business Innovation and Investment (Provisional) (subclass 188) visa granted on the basis that you were the spouse or de facto partner of a person who held a Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream, and you have ceased to be the spouse or de facto partner of that person or that person has died.
- At the time you (the primary applicant) apply for the permanent visa, you must have held the Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream for a continuous period of at least 12 months. You must have held your provisional visa for at least 1 year.
- Family members who apply for the visa with you do not need to hold a Business Innovation and Investment (Provisional) (subclass 188) visa.
- Be nominated
- Have held complying premium investments for he required period of time
- Not have been involved in unacceptable business or investment activities
- Have a realistic commitment to continuing business or investment activities in Australia
- Have at least a functional English language
- Have followed Australian laws
- Meet the health requirement
- Meet the character requirement
- Sign the Australian values statement
- Have no debt to the Australian government
- Not have had a visa cancelled or a previous application refused
Entrepreneur stream
- Unless COVID-19 concessions apply, you must have held the visa for a continuous period:
- Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream. If you were invited to apply for this visa on or after 1 July 2021, you must have held this visa continuously for at least 3 years orBusiness Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream. If you were invited to apply for this visa before 1 July 2021, you must have held this visa continuously for at least 4 years.
- Unless COVID-19 concessions apply, you must have resided in Australia for:
- At least 2 years of the 4 years while holding a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream if you were invited to apply for that visa before 1 July 2021 or
- At least 2 years while holding a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream if you were invited to apply for that visa on or after 1 July 2021.
- Be nominated
- Have a successful record of entrepreneurial activities
- Meet the residence requirement
- Not have been involved in unacceptable business or investment activities
- Have a realistic commitment to continuing business or investment activities
- Have at least a functional English
- Have followed Australian laws
- Meet the health requirement
- Meet the character requirement
- Sign the Australian values statement
- Have no debt to the Australian government
- Not have had a visa cancelled or a previous application refused
What can you do when you have this visa?
With this visa you can:
- Stay in Australia permanently
- Work and study in Australia
- Enrol in Australia's public healthcare scheme, Medicare
- Sponsor your relatives to come to Australia
- Travel to and from Australia for 5 years
- If eligible apply for Australian citizenship