Subclass 888
Business Innovation and Investment (PR)
Relevant Visas
Important
Description
The Subclass 888 Business Innovation and Investment (Permanent) Visa is the permanent stage of the Subclass 188 Business Innovation and Investment (Provisional) Visa. This visa allows successful business owners, investors, and entrepreneurs to continue their activities in Australia and gain permanent residency.
Business
PR
Visa Class EC
Requirements
The next step in applying for your subclass 888 Business Innovation and Investment (PR) visa is fulfilling all of the eligibility requirements. There are quite a few and you are going to have to be diligent and organised when going through the application process. The entry requirements for the subclass 888 Business Innovation and Investment (PR) visa are:
- be under 55 years old, unless exempted (based on the nominated business or investment activity).
- demonstrate adequate English proficiency (Competent English or higher).
- have the necessary business skills and experience (depending on the stream).
- meet the investment or business turnover requirements (depending on the stream).
- have a genuine commitment to continuing business in Australia.
- be sponsored by a state or territory government (for certain streams).
- provide evidence of financial capacity to undertake the business or investment activity.
- meet the health and character requirements.
Streams
The Subclass 888 visa has five streams, each catering to different types of business and investment activities.
Business Innovation stream
- hold, or in certain cases must have held a Business Innovation and Investment (Provisional) visa in the Business Innovation stream, a Business Innovation and Investment (Provisional) visa in the Business Innovation Extension stream, a Special Category visa, or, in some cases, a subclass 457 visa
- meet certain business requirements
- have a current nomination from an Australian state or territory government agency
Investor stream
- hold, or, in some cases, must have held, a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream
- meet certain investment requirements related to your provisional visa
- have a current nomination from an Australian state or territory
Significant Investor stream
- hold, or for some people, must have held, a Business Innovation and Investment (Provisional) 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
- have a current nomination from a state or territory government agency or Austrade which has not been withdrawn.
Premium Investor stream
- hold a Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream
- meet certain investment requirements related to your provisional visa
- have a current nomination from Austrade which has not been withdrawn
Entrepreneur stream
- hold, or, in some cases, must have held, a Business Innovation and Investment (Provisional) (subclass 188) visa in the Entrepreneur stream
- have demonstrated overall a successful record of undertaking entrepreneurial activities in Australia while holding the provisional visa
- have a current nomination from an Australian State or Territory
Process/Steps
Check Your Eligibility
Ensure you meet the residency and business/investment requirements specific to your visa stream.
Hold a relevant provisional visa (subclass 188) for the required period, typically at least two years for Business Innovation stream or four years for Investor and Significant Investor streams.
Demonstrate a commitment to continue business or investment activities in Australia.
Have complied with Australian laws and visa conditions during your provisional visa period.
Meet financial criteria, such as business turnover, investment thresholds, or asset requirements.
English Test
- If English language proficiency is not a part of your previous academic qualifications, you may need to sit for an English language test.
- Common tests accepted include IELTS, TOEFL, and PTE Academic.
- Make sure to achieve the required score as specified by your course provider or visa requirements.
Submit Expression of Interest (EOI)
Lodge an Expression of Interest (EOI) through SkillSelect.
Include accurate details about your business, investments, assets, and residency status.
Ensure all information is up-to-date and meets visa stream requirements.
Wait for an invitation to apply before proceeding.
Receive an Invitation to Apply
If selected, you will receive an invitation to submit a visa application.
Ensure you submit your complete application within the specified timeframe, usually 60 days.
Review all information in your EOI and update if necessary before submission.
Gather Your Documents
Prepare identity documents such as passports, birth certificates, and national ID cards.
Provide business records, including financial statements, tax returns, and ownership documents.
Submit investment records, business performance reports, and evidence of business activity.
Include proof of state nomination and business or investment continuity in Australia.
Collect personal documents such as marriage certificates and dependent details if applicable.
Health and Character Checks
Complete mandatory health examinations with an approved panel physician.
Obtain police clearance certificates from every country where you have lived for 12 months or more in the last 10 years.
Ensure all family members included in the application meet health and character requirements.
Address any potential character concerns, such as past legal issues, with supporting documentation.
Await Visa Processing
Track your application status through your ImmiAccount.
Respond promptly to any requests for additional documents from the Department of Home Affairs.
Ensure continued compliance with visa conditions while your application is under review.
Processing times may vary based on individual circumstances and completeness of application.
Visa Grant
Receive official notification of your visa grant.
Understand your rights and obligations as a permanent resident of Australia.
Register your business or continue investments as per visa conditions.
Ensure compliance with any ongoing reporting or business activity requirements.
Enjoy the benefits of permanent residency, including access to healthcare, education, and potential pathways to Australian citizenship.
