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

This visa allows you and your secondary applicants included in your visa application to live and work anywhere in Australia indefinitely. This visa does not have a points test.

This visa allows you and your secondary applicants to travel to and from Australia for 5 years from the date it is issued. If you and your secondary applicants want to travel abroad and re-enter Australia after the visa expires, you and your secondary applicants must get the requisite Resident Return Visa.

Eligibility – you:

  • are the primary holder of a current Business Innovation and Investment (Provisional) Visa (subclass 188);
  • have met all the requirements of the stream under which you first applied for the current visa*;
  • have not been involved in any unacceptable business or investment activities;
  • have a satisfactory record of complying with Australian laws;
  • have been nominated by a state or territory;
  • have a genuine commitment to continue maintaining your business or investment activity in Australia;
  • and your secondary applicants pass health examinations; and
  • and your secondary applicants pass police checks for each country you and your secondary applicants have lived in for 12 months or more over the last 10 years since turning 16 years of age.

* Stream requirements –:

  • Business Innovation stream:
    • you have been in Australia and have held the current visa for at least 1 year in the 2 years immediately before you submit your visa application;
    • you have had and continue to have a direct and continuous management role in your main business or 2 main businesses in Australia for at least 2 years immediately before you submit your visa application;
    • you have had a turnover of at least AUD300,000, in that main business or those 2 main businesses, in the year immediately before you submit your visa application;
    • you own at least 1 of the following percentages of that main business or those 2 main businesses:
      • 51% of a business with an annual turnover of less than AUD400,000;
      • 30% of a business with an annual turnover of more than AUD400 000; or
      • 10% of a publicly-listed company;
    • you have obtained Australian Business Numbers (ABNs) for each of the relevant businesses;
    • you have submitted all relevant Business Activity Statements to the Australian Taxation Office;
    • you have not acquired the ownership in that main business or those 2 main businesses from a person who was an applicant for, or a holder of, a Business Innovation and Investment (Permanent) Visa (subclass 888) or a permanent Business Skills Visa (subclass 890, 891, 892 or 893), unless you and that person had a joint interest in that main business or those 2 main businesses for at least 1 year before you submit your visa application; and
    • you or your partner, or you and your partner combined must meet 2 of the following:
      • the net value of your assets in that main business or those 2 main businesses in Australia is at least AUD200,000 throughout the year immediately before you submit your visa application;
      • the net value of your personal and business assets in Australia has been at least AUD600,000 throughout the year immediately before you submit your visa application; and
      • that main business or those 2 main businesses must have employed, throughout the year immediately before you submit your visa application, at least the equivalent of 2 full-time employees who are Australian citizens or permanent residents, or New Zealand passport holders, and who are not your family members.
  • Investor stream:
    • you have been in Australia and held the current visa for at least 2 of the 4 years immediately before you submit your visa application; and
    • you or your partner, or you and your partner combined must:
      • have held the designated investment with an Australian state or territory for at least 4 years;
      • have a satisfactory record of complying with Australian laws, including those relating to taxation, superannuation, workplace relations and other laws relevant to your business;
      • not have been involved in unacceptable business or investment activities; and
      • have a strong commitment to continue your business and investment activity in Australia.
  • Significant Investor stream:
    • you have lived in the state or territory that nominated you for at least 40 days per year in the last 4 years or your spouse has lived in the state or territory that nominated you for at least 180 days per year in the last 4 years; and
    • you or your partner, or you and your partner combined must:
      • have held the complying investments continuously for the life of the current visa;
      • have a satisfactory record of complying with Australian laws, including those relating to taxation, superannuation, workplace relations and other laws relevant to your business;
      • not have been involved in unacceptable business or investment activities; and
      • have a strong commitment to continue your business and investment activity in Australia.

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The above content is general in nature and is not intended to address your specific circumstances. We welcome the opportunity to have a chat with you and assist you with your legal issues or concerns. Talk with us and see the difference.

Updated June 2019.