Business Innovation and Investment Visa 888
888 Visa Australia
Business Innovation and Investment (permanent)
This visa lets holders and certain people who have held a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream, or holders of a subclass 444 (Special Category) visa, or certain holders of a subclass 457 (Business (Long Stay) visa, stay permanently.
- you must hold, or in certain cases must have held a Business Innovation and Investment (Provisional) visa in the Business Innovation stream, a Business Innovation and Investment (Provisional) visa in the Business Innovation Extension stream, a Special Category visa, or, in some cases, a subclass 457 visa
- you must meet certain business requirements
- you must have a current nomination from an Australian state or territory government agency
With this visa, you can
- continue your business activities started under your Business Innovation and Investment (Provisional) visa
- stay in Australia permanently
- work and study in Australia
You must
- hold, or in certain cases must have held a Business Innovation and Investment (Provisional) visa in the Business Innovation stream, a Business Innovation and Investment (Provisional) visa in the Business Innovation Extension stream, a Special Category visa, or, in some cases, a subclass 457 visa
- meet certain business requirements
- have a current nomination from an Australian state or territory government agency
With this visa, you can
- stay in Australia permanently
- work and study in Australia
- enrol in Australia’s public health care scheme, Medicare
- sponsor your relatives to come to Australia
- travel to and from Australia for 5 years
- if eligible apply for Australian citizenship
Newly arrived residents may have to wait before they can access certain Australian Government payments and benefits.
How long you can stay
This is a permanent visa. It lets you stay in Australia permanently.
For citizenship purposes, your permanent residency starts on the day:
- we grant the visa if you are in Australia
- you enter Australia on this visa if you are outside Australia when we grant this visa
Include family
You can include members of the family unit in your application when you apply. You can also add children to your application at any time before we decide on your application.
Family members who apply for the visa must meet our health and character requirements.
Family members who are not coming to Australia might also have to meet our health and character requirements.
Apply from
You can be in or outside Australia when you apply for the visa and when we decide on your application but not in immigration clearance.
Processing times
We process:
- 75% of applications in 19 months
- 90% of applications in 23 months
Your application may take longer to process if:
- you do not complete the application form correctly
- you do not include all the documents we need or we need more information from you
- it takes us time to verify your information
We can’t process your application if you do not pay the correct visa application charge. We will notify you if this is the case and if necessary return your application.
Your obligations
You and your family members must obey all Australian laws.
If you are outside Australia when we grant the visa:
- you and your family members must enter Australia by a certain 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)
Travel
Travel to and from Australia for 5 years
You can travel to and from Australia as many times as you want for 5 years from the date we grant this visa. This is as long as the travel facility on this visa remains valid.
If you want to travel after the initial 5-year travel facility:
- you will need to apply for and be granted a Resident Return (RRV) so that you can re-enter Australia as a permanent resident
- you might also want to consider Australian citizenship. If you become an Australian citizen, you don’t require a visa to enter Australia. You will need to apply for an Australian passport and use it to leave and re-enter Australia. See more about eligibility requirements and current processing times for Australian citizenship
If you leave Australia after the expiry date of your travel facility, without being granted another permanent visa with a valid travel facility, for example a Resident Return (RRV), you will not be able to return to Australia as a permanent resident.
To see when your travel facility ends, use VEVO.
Visa label
Australian visas are digital.
We do not put a visa label in your passport. Instead, we link your digital visa record to your passport.
Have this visa
Unless COVID-19 concessions apply, you must be the primary holder of a:
- Business Innovation and Investment (Provisional) visa Business Innovation stream
- Special Category visa (SCV) (subclass 444)
- Business Innovation and Investment (Provisional) visa Business Innovation Extension stream, or
- in certain cases, a subclass 457 visa
You can also apply if you are the secondary visa holder of a Business Innovation and Investment (Provisional) visa and your spouse or de facto partner is the primary holder of a Business Innovation and Investment (Provisional) visa in the Business Innovation stream or Business Innovation Extension stream.
COVID-19 concessions
Arrangements are in place for provisional visa holders who may have been disadvantaged as a consequence of the COVID-19 pandemic.
From 19 September 2020 until 3 months after the end of the ‘COVID-19 concession period’, you can also apply for this visa if you held a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream or Business Innovation Extension stream which expired during the concession period.
You can also apply from 19 September 2020 until 3 months after the end of the ‘COVID-19 concession period’ if you were the secondary visa holder of a Business Innovation and Investment (Provisional) visa (subclass 188) and:
- your visa expired during the concession period; and
- your spouse or de facto partner is the primary holder of a Business Innovation and Investment (Provisional) visa in the Business Innovation stream or Business Innovation Extension stream.
Be nominated
You must have a current nomination from a state or territory government agency.
When you applied for your Business Innovation and Investment (Provisional) visa, you gave us an expression of interest. A state or territory saw your expression of interest and nominated you.
You do not need to provide a new Expression of Interest. But the state or territory needs to confirm that your nomination is still current.
- Australian Capital Territory
- New South Wales
- Northern Territory
- Queensland
- South Australia
- Tasmania
- Victoria
- Western Australia
Own and manage a business in Australia
For the 2 years immediately before you apply, you must have:
- had, and continue to have, an ownership interest in up to two main businesses in Australia
- had a direct and continuous management role in that business or businesses
- submitted Business Activity Statements to the Australian Taxation Office
- an Australian Business Number for each of your main businesses
For the 24 months immediately before you apply, you must own at least:
- 51% of the total value of a business with a turnover of less than AUD400,000 per year, or
- 30% of the total value of a business with a turnover of AUD400,000 or more per year, or
- 10% of the total value of a business that is operated by a publicly listed company
Business acquisition
If you bought your main business (or businesses) from a person who applied for or held:
- a Business Innovation and Investment (Permanent) visa or
- a permanent business skills visa (in subclasses 890, 891, 892 or 893)
at the time of the acquisition, you must show that you and that person co-owned the business for at least 1 year before you apply.
Have an annual business turnover of AUD300,000
Your main business or businesses (or the business or businesses of your spouse or de facto partner, or of you and your spouse or de facto partner together), had an annual turnover of at least AUD300,000 in the 12 months immediately before the application was made.
You might not need to have a turnover of AUD300,000 if the nominating State or Territory government agency has determined that there are exceptional circumstances.
Meet the assets and employees requirement
For the 12 months immediately before you apply, you or your partner (or you and your partner together) must show at least 2 of the following:
- assets of AUD200,000 net value in your main business (or 2 main businesses) in Australia
- personal and business assets in Australia of AUD600,000 net value
- equivalent of at least 2 full-time eligible employees in your main business
If you want to meet the employee rule, your employees must work in your main business (or main businesses) and:
- be Australian citizens, Australian permanent residents, or holders of valid New Zealand passports
- not be members of your family
You might not need to meet the assets and employees requirement if the nominating State or Territory government agency has determined that there are exceptional circumstances
Have followed Australian laws
When operating your business in Australia, you and your partner must have followed:
- Commonwealth laws
- the laws of the states or territories where your business operated
This includes laws about taxation, superannuation and workplace relations.
Functional English
You might have to pay an extra charge for any dependent applicant 18 years old or older who has less than functional English. If they can’t show that they have at least functional English, they will need to pay the second instalment of the visa application charge when we ask you to.
They will not need to pay a second instalment if they have already paid a second instalment of the visa application charge in relation to an application for a Subclass 188 (Business Innovation and Investment (Provisional)) visa.
Meet the residence requirement
Unless COVID-19 concessions apply, you must have been physically present in Australia for at least 1 year in the 2 years immediately before you apply as the holder of a:
- Business Innovation and Investment (Provisional) visa Business Innovation stream
- Special Category visa (SCV) (subclass 444)
- Business Innovation and Investment (Provisional) visa Business Innovation Extension stream, or
- in certain cases, a subclass 457 visa
COVID-19 concessions
Arrangements are in place for provisional visa holders who may have been disadvantaged as a consequence of the COVID-19 pandemic.
You must have been in Australia for a least 1 year in the 2 years immediately before you apply.
During the ‘COVID-19 concession period’, time spent overseas will count as time being in Australia if you were the holder of one of the following visas:
- Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream
- Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream
Your first visa in the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream must have been granted on or before 30 June 2019.
Not have been involved in unacceptable business activities
You and your partner must not have been involved in any business or investment activities that are unacceptable in Australia.
Have a realistic commitment to continuing business activities
You must have a realistic commitment to continuing your business and investment activities in Australia.
Meet our health requirement
You and any family members who apply for the visa with you must meet our health requirement.
Family members who are not coming to Australia might also have to meet our health requirement.
Meet our character requirement
You and family members aged 16 years or over who apply for the visa with you must meet our character requirement.
Family members who are not coming to Australia must also meet our character requirement.
Sign the Australian values statement
If you and your family members who have applied for the visa are 18 years of age or older at the time when the application is decided, you and your family members must:
- have read, or had explained to you, the Life in Australia book and
- sign an Australian Values Statement that confirms you will respect the Australian way of life and obey Australian laws
Have no debt to the Australian government
If you or any family members owe the Australian Government money, you or they must have paid it back or have an approved arrangement in place to pay it back.
Not have had a visa cancelled or a previous application refused
You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia.
Read And Associates offer Professional Guidance
Here at Read and Associates our team of migration agents can provide you with the appropriate guidance and advice which will help you put forth the best visa application possible. Specialising in applications for medical professionals, we would welcome the opportunity to discuss how we can work with you. Book a consultation to find out more.
