The Business Innovation and Investment (Permanent) subclass 888 is a state-nominated permanent residency visa designed for foreign entrepreneurs and investors who wish to carry out business activities in Australia. Subclass 888 is the second stage of the Business Innovation and Investment subclass 188 visa, which is a 5-year temporary visa for people who want to own and manage a new or existing business in Australia.

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Once a business is successfully established in Australia, the holder of a subclass 188 visa can apply for a permanent residency visa through the Business Innovation and Investment (Permanent) subclass 888.

The subclass 888 visa has two streams:

  • The Business Innovation Stream, and
  • The Investor Stream

Who can apply for this visa?

To be eligible for the subclass 888 visa, you must be a holder of one of the following visas:

  • A Subclass 188 visa,
  • A special category Subclass 444 visa, or
  • A business long-stay Subclass 457 visa (in limited circumstances).

The following types of individuals are eligible for subclass 888 visa:

  • Business innovators
  • Significant investors
  • Premium Investors
  • Entrepreneurs

Apart from this, they must:

  • Hold a current Business Innovation and Investment (Provisional) visa (subclass 188) or a Special Category visa (subclass 444).
  • Have fulfilled the eligibility requirements of your provisional visa
  • Have been nominated by a state or territory government.

Business criteria for subclass 888 visa

Business activity  Demonstrate business success for the last two years and also a commitment to carry on business activities in Australia. 
Ownership interest  Owned and operated the business in the last two years preceding application with an annual turnover of at least AUD 300,000 for the past two out of four years.
Business management You must have maintained direct and continuous business involvement for two years before the application. The business management could be at a senior level and the decisions taken by you have had an impact on the overall business performance.  
Annual turnover  Your business must have generated at least A$300,000 of turnover in the last year. 
Net business assets  Not less than A$200,000 in the last 12 months before applying for the visa. The money should have been legally acquired.
Qualifying visa Must be holding a Business Innovation visa at the time of application. 

The Investor Stream-888 visa

  • Must produce evidence of a designated investment of at least AUD$ 1.5 million for 4 years.
  • Provide a performance report of your business or a summary of activities undertaken in Australia in the last two years. The report must also include your plans regarding the business.
  • You must have resided in Australia as a subclass 188 holder under the Investor Stream for 2 years in the 4 years before lodging your 888 visa.

Business Innovation and Investment (Permanent) subclass 888- Processing Time

The exact time taken to process an application under the subclass 888 visa depends on the stream you’ve applied for and how well you meet the eligibility requirements. The business innovation stream applicants may expect their application to process in 10-11 months. Whereas, applications under the significant investment stream tend to take 7-9 months. Please keep checking the Department of Home Affairs website for any changes in the processing times.

Even if you seek more information about Business investment to Australia, you can write an email on [email protected] and one of the most experience immigration consultants will get in touch with you to help you out with your questions and concerns or you can also choose to call us on +91-8595338595 or directly interact with the expert through our Live Chat window.


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