Business Innovation and Investment Permanent (subclass 888) Visa
This is a permanent Australian visa available to holders of the Business Innovation and Investment (Provisional) Subclass 188 visa. Those who apply must do so via the same stream through which they were granted the subclass 188 visa.
About This Visa
This is a permanent Australian visa available to holders of the Business Innovation and Investment (Provisional) (subclass 188) visa. Those who apply must do so via the same stream through which they were granted the subclass 188 visa.
Business Innovation Stream:
- Must hold a qualifying ownership interest in the Australian business for the last 2 years;
- The business must satisfy the DIBP requirements relating to turnover, assets and employment;
- The business must have a turnover of at least AUD $300,000 in the 12 months prior to the date of application unless there is an exception;
- Meet 2 of the following 3 criteria:
- Employ 2 full-time Australian workers who are not related to the applicant.
- Possess net Australian business assets of AUD $200,000.
- Possess net Personal assets of AUD $600,000.
- The applicant’s investment of at least AUD 1.5 million dollars in Australian State or Territory bonds has been held for 4 years.
- Must have been present in Australia for at least 2 of the 4 years prior to the date of application.
How to apply?
- Apply online via Skillselect;
- Be nominated by an Australian State or Territory government agency;
- Possess a genuine commitment to maintaining your Australian business or investment operations.
- Have complied with Australian laws; and
- Hold a subclass 188 visa and have held the subclass 188 visa as the primary applicant unless the applicant’s relationship with the primary applicant has ended due to death or relationship breakdown.
How can CTG Lawyers help you?
Business Innovation and Investment (subclass 888) visas can be refused for several reasons. Business Innovation and Investment (subclass 888) visa applications have strict criteria which must be met and there are very few waiver provisions for the age, English language and skill requirements.
To satisfy these requirements, it is essential that all applications are assessed, structured and lodged in a way that meets all applicable DIBP law and policy. CTG Lawyers has the expertise to handle the most complex cases and achieve the best outcomes in circumstances where the applicant would have failed had they applied without our support.
What to do next
To get the right advice, contact us for a consultation with one of our specialist advisors.