If you are the holder of a provisional business visa and met all the requirements of that visa, the 888 visa is the pathway to gain your permanent visa in Australia.
What is the 888 Business Innovation and Investment visa?
The Business Innovation and Investment (Permanent) visa (subclass 888) is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188). This is a permanent visa and lets you live in Australia permanently.
What are the eligibility requirements for the 888 visa?
The general requirements of Business Innovation and Investment (Permanent) visa (subclass 888) are:
- Hold a provisional Business Innovation and Investment visa
- Have met the requirements of that visa
- You are nominated by a State or Territory
What are the different 888 visa streams?
The Business Innovation and Investment (Permanent) visa (subclass 888) has two different streams:
The Business Innovation Stream:
- If you are applying for this visa 888 stream, you must have been in Australia and held a Business Innovation and Investment (Provisional) visa in the Business Innovation stream, a Special Category visa (SCV) (subclass 444) or a Business (Long Stay) visa (subclass 457IE) for at least 1 year in the 2 years immediately before you apply
- Own and manage a business in Australia
- Have an annual turnover of AUD 300,000
- Meet the assets and employees requirements
The Investor Stream:
- If you are applying for this visa 888 stream, you must have been in Australia and held a Business Innovation and Investment (Provisional) visa in the Investor stream
- Have held your designated investment for at least 4 years if the provisional visa was made after 1 July 2015, or for at least 3 years and 11 months if the provisional visa was made before 1 July 2015
The Significant Investor Stream:
- If you are applying for this visa 888 stream, you must have been in Australia and held a Business Innovation and Investment (Provisional) visa in the Significant Investor stream
- Have held your complying investment for the required period of time
The Premium Investor Stream:
- If you are applying for this visa 888 stream, you must have been in Australia and held a Business Innovation and Investment (Provisional) visa in the Premium investor stream for at least 1 year
- Have held complying premium investments for at least 12 months
The Entrepreneur Stream:
- If you are applying for this visa 888 stream, you must have been in Australia and held a Business Innovation and Investment (Provisional) visa in the Entrepreneur stream for at least 4 years
- Have demonstrated overall a successful record of undertaking entrepreneurial activities in Australia while holding the provisional visa
