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Business innovation and investment (Permanent) visa
(subclass 888)
Business Innovation stream
The Subclass 888 visa grants permanent residency to holders of eligible Subclass 188 provisional visas (or, in certain cases, Subclass 444/457 visas). It’s designed for business owners, investors, significant investors, premium investors, and entrepreneurs who have met ongoing obligations during their provisional stay. Successful applicants and their families can live, work, study, access Medicare, travel on a 5‑year live‑travel facility, and eventually apply for citizenship.
Business Innovation Stream
- Held a Subclass 188 Business Innovation visa for 1–2 years.
- Owned and managed one or two businesses in Australia for ≥ 2 years.
- In the last 12 months prior to applying, meet at least two of:
- Business turnover ≥ AUD $300,000
- At least 2 full‑time eligible employees
- Business assets ≥ AUD $200,000
- Combined personal/business assets ≥ AUD $600,000
Investor stream
Held a Subclass 188 Investor visa for ≥ 4 years.
Maintained a complying investment of AUD $1.5–$2.5 million for the full provisional period. Lived in Australia for at least 2 years during that time.
Significant Investor stream
Held a Subclass 188 Significant Investor visa for ≥ 4 years.
Maintained AUD $5 million in complying investments.
Met residency requirements (e.g., ~40 days/year).
Premium Investor stream
Held a Subclass 188 Premium Investor visa for ≥ 1 year.
Maintained AUD $12–$15 million in complying investments for that year.
Entrepreneur stream
Held a Subclass 188 Entrepreneur visa for ≥ 4 years.
Met entrepreneurial success benchmarks (e.g., revenue ≥ AUD $300,000 or funding ≥ AUD $200,000).
Made an economic contribution to the nominating state or territory.
Common Requirements across all Streams
Must hold a valid Subclass 188 provisional visa (or Subclass 444/457 where eligible).
Must have an active and valid nomination from a state or territory government.
No record of unacceptable business or investment practice.
- Must meet health and character requirements.
- Demonstrate genuine commitment to continue activities supporting Australia’s economy.
Benefits
Permanent residency: live, work, study in Australia indefinitely.
Family included in the application.
Access to public healthcare (Medicare) and eligibility to sponsor relatives.
5‑year travel facility; after that, apply for a Resident Return Visa.
Pathway to Australian citizenship following residency.
Cost
From AUD $3,500.00
Application Process & Timeline
Confirm all obligations under your provisional Subclass 188 visa have been met.
Apply for or renew state/territory nomination.
Collect required evidence: financial records, investment proofs, business documents, residency history, health and character checks.
Lodge with ImmiAccount, paying the visa fee (approx. AUD 3,310 for main applicant; additional amounts for family).
Typical processing: 12–18 months, depending on stream and completeness of documentation.
Summary
The Subclass 888 visa is the permanent-residency phase of the Business Innovation & Investment program, available to holders of qualifying provisional visas (Subclass 188 and others, where applicable). Each stream has specific financial, residency, and activity-based requirements, but all share core obligations like valid nomination, recognition of good character, and demonstrated commitment to Australia. Successful applicants earn permanent residency, family inclusion, access to benefits, and a path to citizenship.