Visa Summary

The Business Innovation and Investment (Permanent) visa (subclass 888) is the second stage of the Business Innovation and Investment visa (subclass 188). You can apply for it after you have fulfilled the requirements of your provisional visa.

You do not need to submit a new Expression of Interest to apply for this visa.

If you get a new passport

If you plan to get a new passport you should do this before applying for your visa. Your visa is linked to the passport number you used in your application and you must use the same passport to travel to and from Australia.

This visa allows you to:

  • continue to own and manage a business in Australia (the Business Innovation stream)
  • continue business and investment activity in Australia (the Investor stream and the Significant Investor stream).

How does this visa work?

You can apply for this visa if you:

  • hold a provisional Business Innovation and Investment visa (subclass 188)
  • have met the requirements of that visa in the stream in which you first applied
  • are nominated by a state or territory

After the visa is granted, you may:

  • own and manage a business in Australia, or continue investment activity in Australia
  • travel in and out of Australia for five years
  • have family members accompany you to Australia
  • live and work in Australia permanently
  • enroll in Medicare Australia's scheme for health-related care and expenses

You could qualify for a Special Benefit from Centrelink if you suffer a major change of circumstances that is beyond your control.

Visa application process

This information explains what you need to do to apply for the permanent Business Innovation and Investment visa (subclass 888).

Provide documents to prove your claims

You must provide documents to prove your claims. Active Migration Australia will provide you with a comprehensie checklist of all forms and documents requires for your applications. 

Active Migration Australia will then prepare, lodge and monitor your application through to a decision.

After you have applied for the Visa

After you lodge your application and documents, the department will let you know that it has received your information, assign you a case officer, consider your application, conduct checks (if needed), ask for more information (if needed) and make a decision.

Wait for a decision

The department has service standards relating to the time it takes to process applications for this visa. Processing times can be affected by the country you come from and whether you lodge your application in or outside Australia.

In Australia: If you apply for this visa while you are in Australia, you may be eligible for a Bridging visa that allows you to stay in the country lawfully while your application is processed. If you want to travel outside Australia while you are waiting for a decision, you might need to apply for Bridging visa B (BVB).

Provide more information

You can provide more information to the department, in writing, at any time until a decision is made on the application.

The department could also ask you for more information. You will have to respond by a set date. After this date, the department will make a decision about your application using all the relevant information it has.

You may be asked to provide biometrics (a scientific form of identification) as part of your application. Countries and visa subclasses included in the biometrics program has more information.

Attend an interview

You may be interviewed after lodging your application. If so, bring your passport or other identification and any requested documents to the interview.

Respond to comments

If another person gives the department information that could result in you being refused a visa, the department will generally give you the opportunity to comment on the information by a set date.

Report changes in your circumstances

You must tell the department if your circumstances change.

Active Migration Australia will assess each application individually and provide extensive checklists consisting of instructions to help you successfully complete the forms required.

Withdrawing your application

You may withdraw your application by advising the department in writing at any time before a decision is made on your application. To do this, you must send the department a letter of withdrawal including your full name, date of birth, date of application and file reference number/transaction record number (if known).

Everyone included in the application who is 18 years of age or older must sign the letter of withdrawal.

Visa Requirements

You can apply for a this visa if you:

  • are the primary holder of a provisional Business Innovation and Investment visa (subclass 188)
  • have met all the requirements of your provisional Business Innovation and Investment visa in the stream in which you first applied
  • have not been involved in any unacceptable business or investment activities
  • have a satisfactory record of complying with Australia laws
  • have been nominated by an Australian state or territory
  • you and all your family members meet health and character requirements - you do not need to prove this again if you have already met this requirement for the provisional Business Innovation and Investment visa (subclass 188)
  • have a genuine commitment to continue to maintain business or investment activities in Australia

Other requirements depend on the stream in which you held your provisional Business Innovation and Investment visa (subclass 188).

Health requirements

As part of applying for your provisional Business Innovation and Investment visa (subclass 188) you and all members of your family unit must have met certain health requirements. Do not arrange a health examination unless the department asks you to do so.

Character requirements

You must meet certain character requirements. You must provide a police certificate from each country you have lived in for 12 months since you applied for your provisional Business Innovation and Investment visa. Do not arrange for other police certificates until the department asks you to.

This applies to you and all the dependent family members listed in your application, whether or not they are migrating with you.

If you are in the 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 one year in the two years immediately before you apply.

In addition, you must be able to show ongoing business involvement, meet certain financial requirements, and have a history of employing Australian workers.

Ongoing business involvement

You must be able to show that you:

  • have had and continue to have a direct and continuous management role in a main business (or two main businesses) in Australia for at least two years immediately before you apply
  • have had a turnover, in that main business (or two main businesses), of at least AUD300 000 in the year immediately before you apply
  • own at least one of the following percentages of that main business (or two main businesses):
      • 51 per cent of a business with a turnover of less than AUD400 000 per annum
      • 30 per cent of a business with a turnover of more than AUD400 000 per annum
      • 10 per cent of a publicly-listed company
  • have obtained Australian Business Numbers for each of the relevant businesses
  • have submitted all relevant Business Activity Statements to the Australian Taxation Office
  • have not acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890,891,892 or 893), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa.

A required net value of assets and history of employment

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

  • the net value of your assets in the main business (or two main businesses) in Australia is at least AUD200 000 throughout the year immediately before you apply
  • the net value of your personal and business assets in Australia has been at least AUD600 000 throughout the year immediately before you apply
  • the main business (or two main businesses) must have employed, throughout the year immediately before you apply, at least the equivalent of two full-time employees who are:
      • Australian citizens, Australian permanent residents, or New Zealand passport holders
      • not your family members.

If you are in the Investor stream

If you are applying for this visa in the Investor stream, you must have been in Australia and held your provisional visa for at least two of the four years immediately before you apply.

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

  • held a designated investment with an Australian state or territory for at least four 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 commitment to continue your business and investment activity in Australia.

If you are in the Significant Investor stream

If you are applying for this visa in the Significant Investor stream, you must have been in Australia for a certain amount of time, as follows:

  • Significant Investor stream - 160 days in the past four years
  • Significant Investor Extension stream - 240 days in the past six years
  • two provisional visas in the Significant Investor Extension stream - 320 days in the past eight years.

You can satisfy this residence requirement at any time while holding a Business Innovation and Investment (Provisional) visa (subclass 188).

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

  • held complying investments as defined in your Business Innovation and Investment (Provisional) visa (subclass 188). You must have held those investments continuously in any proportion across the investment options for the life of your provisional visa
  • 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 commitment to continue your business and investment activity in Australia.

Including your family in your application:

You may include the following people in your visa application:

  • your partner (married or de facto)
  • yours or your partner's dependent children
  • other dependent relatives who live with you.

These family members must meet the requirements in Including dependent family members in your application. This document also outlines what proof of dependency you will need to provide.

If you include your de facto partner in your application, the relationship must have existed for at least 12 months immediately before the date you lodge your application.

If your family members want to join you later in Australia, they must apply for a separate visa as appropriate to their circumstances.

Conditions and obligations for holders of visa subclass 888

You and your family must comply with all Australian laws.

If you are outside Australia when you apply for this visa:

  • you must enter Australia by a specified date (the department will tell you when this is)
  • any dependent family members included in your application might not be able to marry before they enter Australia.