The Business Innovation and Investment (Permanent) Visa (Subclass 888) is a critical pathway for entrepreneurs, investors, and business owners to continue their activities and secure permanent residency in Australia. This visa is designed for individuals who have already established a business or investment activity in Australia under the provisional Subclass 188 visa. The Subclass 888 visa ensures that these individuals can continue to contribute to the Australian economy on a permanent basis. Here’s a comprehensive overview of the different streams under this visa category:
Business Innovation Stream
This stream is ideal for business owners who have successfully managed a business in Australia under the Subclass 188 visa (Business Innovation or Business Innovation Extension streams), or holders of a Subclass 444 (Special Category) visa, or certain Subclass 457 (Business (Long Stay)) visa holders.
Eligibility Requirements:
- You must hold a relevant stream of the Subclass 188 visa, Subclass 444 visa, or certain Subclass 457 visa.
- Demonstrate ongoing business involvement in Australia.
Cost and Processing Time:
- From AUD 3,310.00
- Use the visa processing time guide tool for an indication of processing times.
Investor Stream
This stream caters to individuals who have engaged in investment activities under the Subclass 188 visa in the Investor stream.
Eligibility Requirements:
- Hold a Subclass 188 visa in the Investor stream.
- Maintain a designated investment of AUD 1.5 million for four years.
Cost and Processing Time:
- From AUD 3,310.00
- Use the visa processing time guide tool for an indication of processing times.
Significant Investor Stream
The Significant Investor stream is targeted at individuals who have made substantial investments in Australia.
Eligibility Requirements:
- Hold a Subclass 188 visa in the Significant Investor stream or Significant Investor Extension stream.
- Maintain a complying investment of AUD 5 million for four years.
Cost and Processing Time:
- From AUD 3,310.00
- Use the visa processing time guide tool for an indication of processing times.
Premium Investor Stream
This stream is designed for high-net-worth individuals who have made significant investments in Australia.
Eligibility Requirements:
- Hold a Subclass 188 visa in the Premium Investor stream for 12 months.
- Maintain a complying investment of AUD 15 million for the duration of the Subclass 188 visa.
Cost and Processing Time:
- From AUD 3,310.00
- Use the visa processing time guide tool for an indication of processing times.
Entrepreneur Stream
This stream is for individuals who have shown entrepreneurial success in Australia under the Subclass 188 visa in the Entrepreneur stream.
Eligibility Requirements:
- Hold a Subclass 188 visa in the Entrepreneur stream for four years.
- Have lived in Australia for at least two years while on the Subclass 188 visa.
- Demonstrate a successful record of entrepreneurial activity in Australia.
Cost and Processing Time:
- From AUD 3,310.00
- Use the visa processing time guide tool for an indication of processing times.
Key Steps to Apply
To apply for the Business Innovation and Investment (Permanent) Visa (Subclass 888), you must:
- Ensure you meet all the eligibility requirements specific to your stream.
- Gather and prepare all necessary documentation to demonstrate your ongoing business or investment activities.
- Apply online through the official immigration portal.
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