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

 

Business Innovation and Investment (Permanent) visa (subclass 888) is a permanent visa for people who hold a Business Innovation and Investment (Provisional) visa (subclass 188) or a Special Category visa (subclass 444).

 

You can apply for this visa if:

1.      You have met all the requirements of your Business Innovation and Investment visa in the stream in which you first applied, or you hold a Special Category visa (subclass 444) and have met the requirements of the business innovation stream.

2.      You must be nominated by an Australian state or territory or Austrade on behalf of the Australian government.

3.      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

4.      have a genuine commitment to maintain business or investment activities in Australia.

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

Business Innovation Stream Requirement: 

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

  1. been in Australia for at least 1 of the two years before an application
  2. had an ownership interest and direct and continuous management of the main business (or main businesses) in Australia for the two years immediately before you apply.
  3. obtained an Australian Business Number (ABN) for each of your main businesses
  4. submitted Business Activity Statements (BAS) to the Australian Taxation Office for the two years immediately before you apply
  5. 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 the business in a specified regional area of Australia)
  6. 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

7. 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 (none family member) 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

Investor Stream Criteria Requirement: 

You must be able to show that:

  1. you have been in Australia and held your provisional visa in the Investor stream for at least two years of the four years before the application
  2. you (or you and your partner combined) must have held a designated investment with an Australian state or territory for at least four years.

Including Family Members:

You can include the following family members in your application:

1.      Your partner

2.      Your dependent children or stepchildren

 

What this visa lets you do in Australia:

This visa is a permanent visa and allows you and any family member migrating with you to:

1.       Stay in Australia indefinitely

2.      Study and work in Australia

3.      Enrol in Medicare

4.      Sponsor eligible relatives for certain temporary or permanent visas

5.      Apply for Australian citizenship when you meet the citizenship requirements

How we can help you:


1.      Free initial assessment service.


You can use our online initial assessment tool to assess your eligibility for this visa.


2.      Consultation service


 If you would like detailed initial assessment or assistance with your current

application or need professional advice, please book an appointment with one of

our qualified consultants to provide you with verbal or written advice for

your specific matter.


3.      Visa Service


  • We make your visa application process hassle-free. 
  • We advise you on strategies to maximise your application success.
  • We handle your EOI, Nomination and visa application.
  • We inform you of all required documents, check your documents and advise you if more supporting documents are needed.
  • We follow up your case and get your result with the least amount of stress for you.