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Business and Innovation Visa 888

Business Visa

Quick Enquiry
Business and Innovation Visa

You may be eligible for permanent migration with this visa if you are a holder of the provision Business and Innovation (188) Visa in Australia, and have met the requirements prescribed.

Requirements

Business Innovation stream

If you are in the Business Innovation stream, you must have been in Australia and held your provisional visa for at least two (2) of the four years immediately before you apply.

In addition, you (and/or your partner combined) must:

  • have had and continue to have a direct and continuous management role in a main business (or two (2) main businesses) in Australia for at least two (2) years immediately before you apply
  • have had a turnover, in that main business (or two (2) main businesses), of at least AUD$300 000 in the year immediately before you apply
  • own at least one (1) of the following percentages (%’s) of that main business (or two (2) main businesses):
    • 51 % of a business with a turnover of less than AUD$400 000 per annum, or
    • 30 % of a business with a turnover of more than AUD400 000 per annum, or
    • 10 % of a publicly-listed company
  • not have acquired the ownership in your main business (or two (2) main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888), unless you and that person had a joint interest in the main business for at least one (1) year before you lodge your application for this visa.

You (and/or your partner combined) must also meet two of the following criteria:

  • the net value of your assets in the main business (or two (2) main businesses) in Australia is at least AUD$200 000 throughout the year immediately before you apply
  • net value of your personal and business assets in Australia has been at least AUD$600 000 throughout the year immediately before you apply
  • you employed, in your main business (or two (2) main businesses), throughout the year immediately before you apply, at least the equivalent of two full-time employees who are:
    • Australian citizens, or
    • Australian permanent residents, or
    • New Zealand passport holders, and
    • not your family members.

Investor stream

If you are in the Investor stream, you and/or your partner combined) must have:

  • held a designated investment with an Australian state or territory for at least four (4) years
  • a satisfactory record of complying with Australian laws, including those relating to taxation, superannuation, workplace relations and other laws relevant to your business
  • not been involved in unacceptable business or investment activities
  • a strong desire to continue your business and investment activity in Australia.

Who May Apply?

You need to be the primary holder of a provisional Business Innovation and Investment visa (subclass 188).

NO Expression of Interest, but you do need to:

  • have met all the requirements of your visa, in the stream in which you first applied
  • not have been involved in any unacceptable business or investment activities
  • be nominated by an Australian state or territory.

Benefits

With this visa you can work in your established business in Australia, travel in and out of Australia any number of times as long as your visa is valid, study in Australia, have your family accompany you to Australia, who will have the same entitlements as you and live in Australia as a permanent resident for five (5) years (after 5 years, you will need to apply for a resident return visa).

 

Visa Charges

  • 1st instalment of $1,960.00 AUD (subject to change) is payable at the time of making the application.
  • 2nd instalment must be paid before the visa is granted if you have dependant 18 years of age or older who have less than functional English.

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