Australia Business & Investment Migration
Subclass 888 Visa
Business Innovation and Investment (Residence)
The Subclass 888 Business Innovation and Investment (Residence) visa is the permanent stage for the subclass 188 Business Innovation and Investment visa. There are two streams depending on which stream was applied for at the provisional visa stage:
- Business Innovation Stream: requires you to have established a business in Australia which meets certain asset and turnover requirements
- Investor Stream: you must have held an investment in Australia for at least 3 years and continue till the approval of Subclass 888
- Significant Investor Visa: you must have held an investment in Australia for at least 3 years and continue till the approval of Subclass 888
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Key Requirements
- Your business has been in operation for 2 years or more
- You or your spouse stay 1 out of 3 years in Australia
- You and your spouse own 30% share of the business (10% Public Listed)
- Your business has an annual turnover of AUD 300,000 for last 12 months
- Your business has employed 2 staffs for last 12 months, OR
- Your personal net assets is AUD 600,000 or more, OR
- Your business net assets is AUD 200,000 or more
Common Criteria
All applicants must meet the following criteria:
- You must be nominated by the State or Territory Government who nominated you for the subclass 188 visa, unless you have obtained permission to change State or Territory
- You have a genuine commitment to maintain your business or investment activities in Australia
- You have a satisfactory compliance with applicable Australian Commonwealth, State and Territory laws
Business Innovation Stream Requirements
This option requires you to have owned a business and to be intending to establish business operations in Australia. You will need to meet the following if you are applying through the Business Innovation Stream:
- Residence Requirement: you must have been in Australia for at least 1 of the 3 years prior to application
- You have had an ownership interest in an Australian business for the last 2 years
- Your business has an ABN and has lodged the necessary Business Activity Statements (BAS) for the last 2 years
- The business has had turnover of at least AUD 300,000 for the last 12 months. Exception: if you reside in a regional area, operate a business there and the State or Territory Government has indicated there are exceptional circumstances
- You must meet 2 of the following 3 criteria for the 12 months prior to application:
- Net assets in the business of at least AUD 200,000
- 2 Full Time Equivalent employees working in the business – these employees must not be relatives, and must be Australian permanent residents, citizens or NZ passport holders
- Net personal assets of at least AUD 600,000
Investor Stream Requirements
For this option, you must hold an Investment Stream Subclass 188 provisional visa, and meet the following criteria:
- Residence Requirement: you must have been in Australia for at least 2 of the last 5 years
- You must have held an investment of AUD2.5mil in Australia for at least 3 years
Significant Investor Visa Requirements
For this option, you must hold an Investment Stream Subclass 188 provisional visa, and meet the following criteria:
- Residence Requirement: you must have been in Australia for an average of 40 days per year
- You must have held an investment of AUD5mil in Australia for at least 3 years
