Permanent Business Innovation and Investment Visas 888

Permanent Business Innovation and Investment Visas (888)

The Business Innovation and Investment (Permanent) visa (subclass 888) is the second stage of the Business Innovation (188) visa. To migrate under this visa category, you need to have a nomination from a state or territory government or Austrade on the governmentâ€™s behalf. If you are already on a subclass 188 visa, then you just have to show evidence of nomination from the government entity, who nominated you.

You can either be in Australia or overseas when you lodge your application
You must hold a subclass 188 Provisional Business Innovation and Investment Visa
This visa is only available to applicants who are nominated by an Australian State or Territory government
You must be nominated by the State or Territory Government who nominated you for the subclass 188 visa, unless you have obtained permission to change State or Territory
You have a genuine commitment to maintain your business or investment activities in Australia
You have a satisfactory compliance with applicable Australian Commonwealth, State and Territory laws

The Business Innovation and Investment (Permanent) visa (subclass 888) has two streams:

Business Innovation Stream

This option requires you to have owned a business and to be intending to establish business operations in Australia. You will need to meet the following if you are applying through the Business Innovation Stream:

Residence Requirement: you must have been in Australia for at least 1 of the 2 years prior to application
You have had an ownership interest in an Australian business for the last 2 years Your business has an ABN and has lodged the necessary Business Activity Statements (BAS) for the last 2 years
The business has had turnover of at least AUD 300,000 for the last 12 months. Exception: if you reside in a regional area, operate a business there and the State or Territory Government has indicated there are exceptional circumstances

You must meet 2 of the following 3 criteria for the 12 months prior to application:

Net assets in the business of at least AUD 200,000
2 Full Time Equivalent employees working in the business – these employees must not be relatives, and must be Australian permanent residents, citizens or NZ passport holders
Net personal assets of at least AUD 600,000

Investor Stream

The Business Innovation and Investment (Permanent) visa (subclass 888) allows you to:

stay in Australia indefinitely
work and study in Australia
enrol in Medicare
apply for Australian citizenship
sponsor eligible relatives for permanent residence
travel to and from Australia for five years while your visa is valid

GOVERNMENT CHARGES		Notes
Type of visa	1st instalment	2nd instalment Primary applicant has less than functional English	2nd instalment Any dependants (included in application) 18 years or over, with less than functional English
Business Talent (Permanent)	$5,940	$8,520	$4,250
Business Innovation andInvestment (Provisional)	New $4,065 Extension $500	$8,520	$4,250
Business Innovation and Investment (Permanent)	$1,960	Nil	$4,250 9a
Business Owner (Residence)	$1, 895	Nil	$4,250 9a
State/Territory Sponsored Business Owner (Residence)	$1, 895	Nil	$4,250 9a
Investor (Residence)	$1, 895	Nil	$4,250 9a
State/Territory Sponsored Investor (Residence)	$1, 895	Nil	$4,250 9a
OTHER COSTS (If Applicable)		Notes
Medical Examination	Variable (Depending upon the type of Medical Test and Examination required)	This fee is payable for each person included in your application and must be paid directly to the doctor conducting your examination.
Character Clearance (Police Check)	Variable	This fee is payable to the police authorities in the countries where you have lived for 12 months or more.
Certification/Translation of Documents	Variable	Payable to Translator
OUR FEE IN AUD		Notes
Visas Simply Fees		AU$ 14950

Innovation & Investment Visas (888)