Business Innovation and Investment Permanent visa (Subclass 888)
Those holding a Business Innovation and Investment Provisional visa (Subclass 188) become eligible for applying for the Business Innovation and Investment Permanent visa (Subclass 888) subject to the continued fulfillment of the various eligibility requirements laid down under the Provisional Visa.
If applied under the Business Innovation Stream, then this visa allows you to continue owning and managing your business in Australia.
If applied under the Investor stream or Significant Investor stream, then this visa allows you to continue your business and investment activity in Australia.
You need not submit a new EOI and do not require an invite to apply for this visa. You do not need nomination if the State or Territory that nominated you for the Provisional visa has not withdrawn its nomination.
You will require nomination if the current nomination has been withdrawn by the State/Territory or if you wish to obtain nomination from another State/Territory.
Benefits of Business Innovation and Investment Permanent visa (Subclass 888)
Business Innovation and Investment Permanent visa (Subclass 888) is a permanent residence visa. You and all your family members will, after being granted this visa, enjoy the right to:
- Stay indefinitely in Australia.
- Work and study in Australia.
- Seek enrolment in Australia’s health-care scheme—Medicare.
- Apply for Australian citizenship.
- Sponsor eligible relatives for permanent residence.
- Travel to and from Australia for a period of five years from the date of grant of visa. After five years, you will have to apply for a resident return visa or any other visa to return to Australia.
Business Innovation and Investment Permanent Visa (Subclass 888) Eligibility
You must fulfill the following requirements to apply for this visa.
- You are the primary visa holder of
- provisional Business Innovation and Investment visa (subclass 188) and must be in compliance with the requirements of the stream under which you have applied. Or,
- you hold a Special Category visa (subclass 444), or
- Business (Long stay) visa (subclass 457IE) and have met the requirements of the business innovation stream.
- You have been nominated by an Australian state or territory.
- You and all your dependant family members meet health and character requirements.
- Neither you nor your partner has been involved in any unacceptable business or investment activity.
- You and your partner have a satisfactory record of complying with Commonwealth laws, and laws of every State/Territory where you operate a business and employ employees for the purpose of operation of that business.
- You show realistic commitment to maintain business or investment activities in Australia
- You must arrange to repay all outstanding debts owed to the Australian government before you become eligible to receive this visa.
Holders of Provisional Business Innovation and Investment visa (subclass 188) under the Business Innovation Stream must comply with additional provisions related to business turnover, business assets, and compliance with business laws and regulations.
Holders of Provisional Business Innovation and Investment visa (subclass 188) under the Investor Stream or the Significant Investor Stream must comply with additional provisions related to residence in Australia and duration of holding of the investment.
Inclusion of Family Members
You can include the following family members in your visa application:
- Your married or de-facto partner, provided the relationship with your de-facto partner has existed for not less than 12 months immediately preceding the date of application.
- Your dependent children or your partner’s dependent children
- Dependent relatives who are:
- Dependent on you or your partner, and
- Normally reside in your or your partner’s household.
- when applying under the Business Innovation Stream
- when applying under the Investor Stream
- when applying under the Significant Investor Stream
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