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)
  • continue entrepreneurial activity in Australia (Entrepreneur stream).​
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Eligibility

You must:

  • hold a relevant stream of the subclass 188 visa or 444 visa
  • be nominated by a state or territory government agency or Austrade
  • have owned and operated a business in Australia for at least 2 years (Business Innovation stream) or
  • have held a designated investment of AUD 1.5 million for 4 years (Investor stream) or
  • have held a complying investment of AUD 5 million for 4 years (Significant Investor stream) or
  • held a complying investment of AUD 15 million for 1 year (Premium Investor stream)
  • meet additional financial and other requirements of the same stream of this visa.

Length of stay

Permanently

Cost

From AUD 2,350

Learn about...​

The process

Processing time

75 per cent of applications processed90 per cent of applications processed
Unavailable due to low volume of applications.Unavailable due to low volume of applications.

Last updated 16 November 2017 (for month ending 31 October 2017)

Processing times vary.

For more information read Global visa and citizenship processing times

Eligibility

Visa holder

    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
  • 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.
    Additional requirements are:
  • 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

You must meet our health requirement.

Character

You must meet our character requirement.

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.

This also applies to all members of the family unit listed in your application whether they are migrating or not.

Eligibility - 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 business involvement, meet certain financial requirements, and have a history of employing Australian workers.

Eligibility - 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.

Eligibility - 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:
  • held complying investments continuously for at least 4 years while holding your Business Innovation and Investment (Provisional) visa (subclass 188).
  • operated a qualifying business under the private Australian company in which you have made a direct complying investment if applicable.
  • 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.

Eligibility - 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).

Eligibility - Entrepreneur stream

 

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

In addition, you must be able to demonstrate a successful record of entrepreneurial activities in Australia.

The visa

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 need 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 holder 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.

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 member of your family unit who has 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).

Cost

From AUD 2350

    You might have to pay additional costs for:
  • additional applicant 18 and over
  • additional applicant under 18
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.

Use the Visa pricing estimator to estimate the cost of your application.

Visa pricing estimator

Note: The estimator does not calculate additional costs.

Location

You can be in or outside Australia when you apply for the visa and when a decision is made.

How long the visas lasts

This is a permanent residence visa.

Family

    You can include the following people in your visa application at the time of lodgement:
  • your partner
  • your child/step-child or your partner’s child/step-child.

For detailed information regarding who you can include in your application see including family members 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 members of your family unit want to join you later in Australia, they must apply for a separate visa as appropriate to their circumstances.

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).

Follow these steps

  1. 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.

  2. Gather documents

    Documents

    Prepare your documents

      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
    • 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.

  3. Your professional documents

    Commitment to your business and investment activity

    A one-page summary of your proposed business or investment intentions in Australia in the long-term.

    Notice of or report from any investigation into the Australian business or investment operating environment.

    Evidence of compliance with the laws of the Commonwealth, and of the state or territory in which you operate your business.

    Provide one of the following:

    • a written declaration stating you have complied with the laws of the Commonwealth, and of the state or territory in which you operate your business
    • details of any incidence where you have breached the laws of the Commonwealth, and of the state or territory in which you operate your business. These laws include laws relating to taxation, superannuation and workplace relations.

    Significant investor stream

    Provide the documents in this section only if you are applying for this visa under the Significant Investor stream.

    Note: the rules that were in force at the time that you applied for your provisional Significant Investor visa will continue to apply for the duration of your provisional visa, including any Extension stream visas you apply for that relate to that provisional visa.

    Investment documents

    Complying Significant Investments for provisional applications made after 1 July 2015

    Complying Investments for provisional applications made prior to 1 July 2015

    Business documents

    Entrepreneur stream

    Overview of your entrepreneur activities in Australia.

    Provide a short summary (no more than two pages) of your Australian entrepreneur activities

    Provide evidence of your successful record of entrepreneurial activity

  4. Apply

    Apply online

      Before you start your application, learn:
    • how to pay the application fee
    • how to attach documents
    • about the transaction reference number.
    Start your application

    If you don’t have an ImmiAccount, you need to create one.

    If you have an ImmiAccount, start application

  5. After you apply

    If you apply 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.

    More information is available about bridging visas.

    Health checks

    If you did not have health checks before you applied, you will need to have them when we tell you to.

    More information is available about our health requirement.

    Send more information or documents

    If you did not include all documents when you applied, send them as soon as you can. We might also ask you to provide more information.

    Send more information via your ImmiAccount.

    Tell us of changes

      You need to tell us of changes if:
    • there are any changes to your circumstances, for example, change of address, telephone number or birth of a child
    • you made a mistake on your application
    • you need to provide more information
    • you want to withdraw your application.

Tell us of changes

Changes to your circumstances

Tell us if there are changes to your circumstances before you are granted the visa.

    Changes in circumstances include, but are not limited to:
  • telephone number
  • address
  • passport
  • birth of a child.

Mistakes on your visa application

Tell us if there are any mistakes in your application.

Complete Form 1023 - Notification of incorrect answer(s) (99KB PDF).

Appoint or withdraw someone to help you

Withdrawing your visa application

You can withdraw your visa application at any time before we make a decision.

Complete Form 1446 - Withdrawal of a visa application (375KB PDF).

Your request must include your full name and date of birth. Include the number we gave you when you applied, if you know it - this could be a file reference number, client ID, or a Transaction Reference Number.

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 might 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.