Business Innovation and Investment (Permanent) Visa (Subclass 888)

Business Visa

The Investor Visa schemes in Australia is a citizenship by investment scheme is developed to target accomplished business owners or investors to migrate and contribute to the Australian economy actively.

To apply for the business visa subclass 888 you must already be holding a business visa subclass 188.

Work and live in Australia with the Business Innovation and Investment (Provisional) Visa (Subclass 188). This visa allows you to own and manage a new or existing business in Australia, or to invest in Australia. You must be nominated by a state or territory government or Australian agency to be eligible to apply.

5 Streams

The current streams available for the subclass 188 and 888 visas include:

Business Innovation – 188A/888A

Subclass 188 Business Innovation and Investment (Provisional) visa in the Business Innovation stream is a provisional visa which leads to permanent residency after residency requirements and other requirements stipulated in Subclass 888 Business Innovation and Investment (Permanent) visa in the Business Innovation stream are met.

Investor – 188B/888B

Subclass 888 Business Innovation and Investment (Permanent) visa in the Investor stream is a permanent visa which allows primary applicants holding Subclass 188 Business Innovation and Investment (Provisional) visa in the Investor stream to continue their investment activities started under Subclass 188 visa in the Investor stream and to live in Australia permanently.

Significant Investor Visa (SIV) – 188/888C

Holders of the AUD 5 million Significant Investor Visa can apply for the permanent subclass 888 visa when the following requirements are met:

  • - You have lived in Australia for at least 40 days per year cumulatively or your partner has lived in Australia for at least 180 days per year cumulatively while holding the provisional subclass 188 SIV for four years.
  • - You have continuously maintained the complying investments for at least four years

The key issues for this visa include the demonstration of continuously holding complying investments of AUD 5 million for at least 4 years, and ensuring that the investments made are compliant as eligible investments under the SIV framework.

Premium Investor Visa (PIV)

The Premium Investor Visa will be introduced on 1 July 2015 which requires a $15 million complying investment. PIV holders will be able to apply for an Australian permanent visa 12 months after the investment as opposed to the 48 months required for SIV holders.

Entrepreneur

This is a 4-year temporary visa, for entrepreneurs with innovative ideas and financial backing from a third party. After spending 2 years in Australia and being sponsored by a state or territory government to qualify for a permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

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