Business Innovation and Investment (permanent) visa (subclass 888)

The Business Innovation and Investment (subclass 888) is a permanent residency visa for those who hold a four-year provisional subclass 188 visa and looking to continue to own and manage a business or an investment activity in Australia and Australian state or territory respectively.

BUSINESS INNOVATION STREAM (888A)

ELIGIBILITY CRITERIA

Hold a business innovation and investment visa (subclass 188) in the business innovation or business innovation extension stream;
Be able to demonstrate ongoing business involvement, meet certain financial requirements and a history of employing Australian workers;
Have a current nomination from an Australian state or territory government agency;
Meet the residence requirement;
Not have been involved in unacceptable business or investment activities;
Have functional English;
Meet our health requirement;
Meet our character requirement

COVID-19 concessions

Arrangements are in place for provisional visa holders who may have been disadvantaged as a consequence of the COVID-19 pandemic.

From 19 September 2020 until 3 months after the end of the ‘COVID-19 concession period’, you can also apply for this visa if you held a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream or Business Innovation Extension stream which expired during the concession period.

You can also apply from 19 September 2020 until 3 months after the end of the ‘COVID-19 concession period’ if you were the secondary visa holder of a Business Innovation and Investment (Provisional) visa (subclass 188) and:

your visa expired during the concession period;
and your spouse or de facto partner is the primary holder of a Business Innovation and Investment (Provisional) visa in the Business Innovation stream or Business Innovation Extension stream.

INVESTOR STREAM (888B)

ELIGIBILITY CRITERIA

Have held 188 visa in the investor for at least 2 of the 4 years prior making to application;
Have maintained a designated investment for at least 4 years;
Have a current nomination from an Australian state or territory;
Meet the residence requirement;
Not have been involved in unacceptable business or investment activities;
Have functional English;
Meet our health requirement;
Meet our character requirement

COVID-19 concessions

Arrangements are in place for provisional visa holders who may have been disadvantaged as a consequence of the COVID-19 pandemic.

From 19 September 2020 until 3 months after the end of the concession period, you can also apply for this visa if you:

held a Business Innovation and Investment (Provisional) visa (subclass 188) Investor stream which expired during the ‘COVID-19 concession period’; or
were the secondary visa holder of a Business Innovation and Investment (Provisional) visa (subclass 188) and:
your visa expired during the ‘COVID-19 concession period’; and
your spouse or de facto partner is the primary holder of a Business Innovation and Investment (Provisional) visa in the Investor stream.

SIGNIFICANT INVESTOR STREAM (888C)

ELIGIBILITY CRITERIA

Have held 188 visa in the significant investor stream or significant investor extension stream;
Held complying investment consistently for at least 4 years on your 188 visa;
Have a current nomination from a state or territory government agency or Austrade which has not been withdrawn;
Meet the residence requirement;
Not have been involved in unacceptable business or investment activities;
Have functional English;
Meet our health requirement;
Meet our character requirement

COVID-19 concessions

Arrangements are in place for provisional visa holders who may have been disadvantaged as a consequence of the COVID-19 pandemic.

From 19 September 2020 until 3 months after the end of the ‘COVID-19 concession period’, you can also apply for this visa if you:

held a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream or Significant Investor Extension stream which expired during the ‘COVID-19 concession period’; or
were the secondary visa holder of a Business Innovation and Investment (Provisional) visa (subclass 188) and:
your visa expired during the ‘COVID-19 concession period’ and
you have ceased to be the spouse or de facto partner of a primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream or the Significant Investor Extension stream, or that person has died.