fbpx

Innovation & 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 government’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:

[accordion clicktoclose=true tag=h4]

[accordion-item title=”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

[/accordion-item] [accordion-item title=”Investor Stream”]

  • For this option, you must hold an Investment Stream Subclass 188 provisional visa
  • have been in Australia for at least 2 of the last 4 years
  • maintained the AUD 1.5 million investment in Australian State or Territory Bonds for a continuous period of 4 years

[/accordion-item] [/accordion]

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

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