Business innovation and investment permanent visa subclass 888

The 888 visa is for masses who want to continue to own and manage a business in Australia, or to continue an investment activity in an Australian state or territory.​​ This is a permanent residency visa.

This subclass 888 visa has three streams:

The Business Innovation Stream

You need to fulfill the following additional requirements, if applying under the Business Innovation Stream.

Activity in Business:

You must have regularly lived in Australia and, for at least one of the two years immediately preceding the application, held a: Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream, or A Special Category visa (subclass 444), or A Business (Long Stay) visa (subclass 457IE)

Annual Turnover:

Have maintained an annual turnover of at least AUD300,000 from the main business (or businesses) in the 12 months immediately preceding the application. This requirement may be waived by the nominating State/Territory if you commit to live and operate your business in a specific region of the country.

Ownership interests:

Had (for the two years preceding the application) and continue to have ownership interests and direct and ongoing roles in the management of an actively running main business or businesses in Australia.

In the year immediately preceding the application, you must have owned at least

Australian Business Number: You must have an Australian Business Number for each of your main businesses Business Activity Statements: You must have submitted Business Activity Statements to the Australian Taxation Office for two years immediately preceding your application.

You must have not acquired ownership in your main business or businesses from an applicant

The Investor Stream

You must fulfill the following additional requirements, if applying in the Investor stream

The Significant Investor Stream

You must fulfill the following additional requirements, if you are applying in the Significant Investor stream