Individuals and Travellers

Business Innovation and Investment (Permanent) visa (subclass 888)

Features

​This visa allows you to:

  • continue to own and manage a business in Australia (the Business Innovation stream)
  • continue business and investment activity in Australia (the Investor stream, the Significant Investor stream and the Premium Investor stream).​
​​

Requirements

You might be able to get this visa if you are nominated by a state or territory or the Australian government; and

  • hold a provisional Business Innovation and Investment visa (subclass 188) and have met the requirements of that visa in the stream in which you first applied

or

  • hold a Special Category visa (subclass 444) or a Business (Long stay) visa (subclass 457IE) and have met the requirements of the business innovation stream.

About this visa

The Business Innovation and Investment (Permanent) visa (subclass 888) is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188). You can apply for it after you have fulfilled the requirements of your provisional visa.

You do not need to submit a new Expression of Interest or be invited to apply for this visa. You ne​​ed to be nominated by a state or territory government agency or Austrade on behalf of the Australian government if you are seeking to satisfy the primary criteria.

If you are the holde​r of a provisional Business Innovation and Investment visa (subclass 188) you should provide evidence that the government entity which nominated you for that visa has not withdrawn the nomination.

If you are the holder of a Special Category visa (subclass 444), or require nomination from a different nominator than your provisional Business Innovation and Investment visa (subclass 188) you are required to obtain nomination from a state or territory or Austrade on behalf of the Australian government before you lodge an application for this visa.

You can provide evidence of your nomination by completing form 1414.

What this visa lets you do

The Business Innovation and Investment (Permanent) visa (subclass 888) allows you to manage your business and investments in Australia.

 

This is a permanent residence visa. It lets you and any family members who have also been granted this visa:

  • stay in Australia indefinitely
  • work and study in Australia
  • enrol in Medicare, Australia's scheme for health-related care and expenses
  • apply for Australian citizenship (if you are eligible)
  • sponsor eligible relatives for permanent residence
  • travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).

Before you apply

Your passport

You need a valid passport or other travel document for this visa. If you plan to get a new passport, you should do so before applying for your visa. If you get a new passport after you have lodged your application, give the details of your new passport to one of our offices.

You might be able to update your passport details using ImmiAccount.

Cost

The visa application charges are listed in Fees and charges.

Other costs

You might have to pay other costs, such as the costs of health assessments, police certificates, or any other certificates or tests. You are responsible for making the necessary arrangements.

Visa applicants

This information tells you what you need to do to apply for a Business Innovation and Investment (Permanent) visa (subclass 888).

Who can apply for this visa

You might be able to apply for this visa if:

  • you are the primary visa holder of a provisional Business Innovation and Investment visa (subclass 188) and have met all the requirements of your Business Innovation and Investment visa in the stream in which you first applied; or
  • ​you are the secondary visa holder who is the spouse or de facto partner of a provisional Business Innovation and Investment visa (subclass 188) holder in the Investor or Business Innovation stream and can meet all the primary criteria requirements of  the permanent Business Innovation and Investment visa in the relevant stream; or
  • you hold a Special Category visa (subclass 444) and have met the requirements of the business innovation stream; and
  • you and your partner have not been involved in any unacceptable business or investment activities.​

In addition:

  • you and your partner have a satisfactory record of complying with Commonwealth laws, and of each State or Territory in which you operate a business and employ employees in the business, relating to your business,
  • you have been nominated by an Australian state or territory or by Austrade on behalf of the Australian government,
  • you and all your family members meet health and character requirements – you do not need to prove this again if you have already done this for the provisional Business Innovation and Investment visa (subclass 188),
  • have a realistic commitment to maintain business or investment activities in Australia.​

Other requirements depend on the stream in which you held your provisional Business Innovation and Investment visa (subclass 188).

Health requirements

You must meet certain health requirements. However, most applicants for this visa will not be required to complete additional health examinations. Do not arrange a health examination until we ask you to.

Character requirements

You must meet certain character requirements. You must be prepared to provide a police certificate from each country you have lived in for 12 months or more during the past 10 years after you turned 16 years of age. Do not arrange for police certificates until we ask you to.

This applies to you and all the dependent family members listed in your application, whether they are migrating or not. ​​

Debts to the Australian Government

You must have no outstanding debts to the Australian Government or have arranged to repay any outstanding debts to the Australian Government before this visa can be granted.

Biometrics

You might be asked to provide biometrics (a scientific form of identification) as part of the application. Countries and visa subclasses included in the biometrics program has more information.

Business Innovation stream

If you are applying for the Business Innovation stream, you must have been in Australia and held:

  • a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream
  • a Special Category visa (subclass 444)

for at least one year in the two years immediately before you apply.

In addition, you must be able to show ongoing busine​ss involvement, meet certain financial requirements, and have a history of employing Australian workers.

Ongoing business involvement

You must be able to show that you (or you and your partner together) have:

  • had an ownership interest (and continue to have an ownership interest) and a direct and continuous management role in an actively operating main business (or main businesses) in Australia for the two years immediately before you apply.
  • had an annual turnover of at least AUD300 000 from the main business (or businesses) in the 12 months before you apply. (A nominating state or territory might agree to waive the requirement to show an annual turnover of AUD300 000 if you live and operate business in a specified regional area of Australia)
  • owned at least one of the following percentages of the main business (or main businesses) in Australia in the year immediately before you apply:
    • 51 per cent of a business with a turnover of less than AUD400 000 per year
    • 30 per cent of a business with a turnover of AUD400 000 or more per year
    • 10 per cent of a publicly listed company
  • obtained an Australian Business Number for each of your main businesses
  • submitted Business Activity Statements to the Australian Taxation Office for the two years immediately before you apply
  • not acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890, 891, 892 or 893), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa.

You (or your partner, or you and your partner together) must also demonstrate that you have achieved at least two of the following requirements:

  • a net value of business assets of at least AUD200 000 in your nominated main business (or two main businesses) in Australia throughout the year immediately before you apply
  • a net value of personal and business assets of at least AUD600 000 in Australia throughout the year immediately before you apply
  • employed at least the equivalent of two full-time employees in your main business (or main businesses), throughout the year immediately before you apply who are:
    • Australian citizens, Australian permanent residents, or holders of valid New Zealand passports
    • not your family members.

Investor stream

If you are applying for this visa in the Investor stream, you must have been in Australia and held your provisional visa in the Investor stream for at least two of the four years immediately before you apply.

In addition, you (or you and your partner combined) must have held a designated investment with an Australian state or territory for at least four years.

If you applied for your provisional visa (subclass 188) in the Investor stream prior to 1 July 2015, you are eligible to apply for a subclass 888 visa after holding your provisional visa for 3 years and 11 months. If you applied for your provisional visa after 1 July 2015, you are required to hold your provisional visa for at least 4 years prior to applying for a subclass 888 visa.

Significant Investor stream

If you are applying for a permanent visa (subclass 888) in the Significant Investor stream, you must have held at the time of application:

  • a provisional visa (subclass 188) in the Significant Investor stream or in the Significant Investor Extension stream.

You must have been in Australia as the holder of a provisional visa (subclass 188) in the Significant Investor stream or the Significant Investor extension stream for at least 40 days per year (calculated cumulatively) for the period of time you have held your provisional visa(s), or your spouse has been in Australia for at least 180 days per year (calculated cumulatively) on the basis of the period of time the primary applicant has held their provisional visa(s).

In addition, you (or you and your partner combined) must have:

Note that the rules in force at the time you applied for you original subclass 188 visa in the Significant Investor stream will apply to you when your application for a subclass 888 visa is assessed.

If you applied for your provisional visa (subclass 188) in the Significant Investor stream prior to 1 July 2015, you are eligible to apply for a subclass 888 visa after holding your provisional visa for 3 years and 11 months. If you applied for your provisional visa after 1 July 2015, you are required to hold your provisional visa for at least 4 years prior to applying for a subclass 888 visa.

Premium Investor stream

If you are applying for a permanent visa (subclass 888) in the Premium Investor stream, you must have held a provisional visa (subclass 188) in the Premium Investor stream at the time of application and be nominated by the Commonwealth government.

You must have held your provisional visa for a minimum of 1 year.

You (or you and your partner combined) must have held complying premium investments continuously for at least 1 year, and for the entire time you have held your Business Innovation and Investment (Provisional) visa (subclass 188).

Including family in your application

You can include the following members of your family unit in your visa application:

  • your partner (married or de facto)
  • your or your partner's dependent children
  • your or your partner’s children who were granted the provisional visa (subclass 188) on the basis that they were dependent children
  • dependent relatives who are single, dependent on you or your partner and usually reside in your or your partner's household.

These members of your family unit must meet the requirements for including members of your family unit in your application. The application must include documentary evidence of their relationship to you.

If you include your de facto partner in your application, the relationship must have existed for at least 12 months immediately before the date you lodge your application.

If your members of your family unit wan​t to join you later in Australia, they must apply for a separate visa as appropriate to their circumstances.

How to apply

This information explains what you need to do to apply for the Business Innovation and Investment (Permanent) visa (subclass 888). You can apply while you are in or outside Australia.

Prepare your documents

You need to provide documents to prove the claims you make in the application. The documents are listed in the Document checklist.

Some documents could take some time to obtain. You should have them ready when you lodge the application to reduce any delays in processing.

Lodge your application

Lodge your application online using:

You must pay the initial application charge by credit card when you lodge your application. As soon as you apply, send your documents by registered post to our Adelaide office in South Australia - attention Adelaide Business Skills Processing Centre.

More information

Please refer to preparing your application, for information on certifying and translating documents into English, communicating with us, using a migration agent, authorising another person to receive information from us, and receiving assistance with your application.​​​​

In Australia:
If you need help with your application, contact one of our offices - attention Centre of Excellence.

You can also contact your case officer in the department for advice on your individual circumstances.

After you have applied

After you have lodged your application and documents, we will acknowledge that we have received your information.

You can track and manage your application using ImmiAccount.

Wait for a decision

We have visa processing times for each visa.

Your application could take longer if you need character or health checks (including x-rays), if you need to provide more information, or if your application is incomplete.

In Australia:
If you apply for this visa while you are in Australia, you might be eligible for a Bridging visa that allows you to stay in the country lawfully while your application is processed. You should apply for a Bridging visa B (BVB) if you want to ​travel outside Australia while you are waiting for a decision.

Provide more information

You can provide more information to us, at any time until a decision is made on the application. If you want to correct information you provided, use:

We could also ask you for more information. You will have to respond by a set date. After that date, we can make a decision about your application using the information that we have.

If another person gives us information that could result in you being refused a visa, we will usually give you the opportunity to comment on the information.

You might also be interviewed. If you are asked to attend an interview in person, bring your passport or other identification and any requested documents to the interview.

Report changes in your circumstances

Tell us if your circumstances change. You can use the following forms:

  • Form 929Change of address and/or passport details (86 kB PDF) — if you move to a new address or change your passport
  • Form 1022Notification of changes in circumstances (77 kB PDF) — if there are other changes in your circumstances.

You might be able to update your address and passport details using ImmiAccount.

Withdrawing your application

​You can withdraw the application at any time before we make a decision about it. To do this, send us a letter or email to ask for the withdrawal. Your request must include your full name and date of birth. You should also include your file reference number, client ID, or a Transaction Reference Number.

​​​All applicants 18 years of age or older, wishing to withdraw, must sign the request for withdrawal.​​​​​​

Visa decision

If the visa is granted, we will let you know:

  • when you can use the visa
  • the visa grant number
  • any conditions attached to the visa.​

If the visa is not granted, we will let you know:

  • why the visa was refused
  • your review rights (if any). Where applicable, your sponsor can apply for the decision to be reviewed
  • the time limit for lodging an appeal.

Document checklist

You must provide documents to support your application for this visa.

Use the Business Innovation and Investment (Permanent) visa (subclass 888) document checklist to make sure your application is complete.

Visa holders

Workers in Australia – including visa holders with permission to work – have rights under Australian workplace law.

The Fair Work Ombudsman’s Pay and Conditions Tool (PACT) provides information on pay rates, shift calculations, leave arrangements and notice and redundancy entitlements.

See also: Workplace rights for all visa holders working in Australia

This information is for people who have already been granted a Business Innovation and Investment (Permanent) visa (subclass 888). It explains your rights and obligations.

You can use Visa Entitlement Verification Online (VEVO) for free to check your visa details and entitlements.

What this visa lets you do

The Business Innovation and Investment (Permanent) visa (subclass 888) allows you to manage your business and investments in Australia.

 

This is a permanent residence visa. It lets you and any family members who have also been granted this visa:

  • stay in Australia indefinitely
  • work and study in Australia
  • enrol in Medicare, Australia's scheme for health-related care and expenses
  • apply for Australian citizenship (if you are eligible)
  • sponsor eligible relatives for permanent residence
  • travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).

You could qualify for a Special Benefit from Centrelink if you suffer a major change of circumstances that is beyond your control.

Your obligations

You and your family must comply with all visa conditions and Australian laws.

If you are outside Australia when you are granted this visa:

  • you must enter Australia by a specified date (we will tell you when this is)
  • any family members included in your application might not be able to marry or enter into a de facto relationship before they enter Australia (we will tell you if this is the case).
​​​​​​​​​​​ ​​​

Estimate the cost of your visa

The following Visa Pricing Estimator requires you to answer the questions as accurately as possible to provide you with an estimate for lodging a visa application. The estimator does not include the second instalment of the visa application charge which is payable for some visas. Please note this is an estimate for a visa application, if you have already lodged your application and you want to change/add applicants please refer to the Visa Pricing Table. The Department of Immigration and Border Protection Visa Pricing Estimator will give you an estimate of the charges you may need to pay to lodge a visa application. This is paid after you have made your application but before the visa can be granted. Read the department's full disclaimer. The Commonwealth of Australia does not guarantee the accuracy, currency or completeness of any material in the Visa Pricing Estimator.