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Australia Business Innovation and Investment (Permanent) Visa (Subclass 888)

This visa is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188). You can apply for it after you have fulfilled the requirements of your provisional visa.

This visa allows visa holders to continue to own and manage a business in Australia under the Business innovation stream, or, continue business and investment activity in Australia under the investor stream and significant investor stream.

Visa holders will be eligible if:

  • They hold a provisional Business Innovation and Investment visa (subclass 188) and have met the requirements of that visa in the stream in which they first applied; or
  • Hold a Special Category visa (subclass 444) or a Business (Long stay) visa (subclass 457IE) and have met the requirements of the business innovation stream.
  • You are the holder of Business Owner (Provisional), a State or Territory Sponsored Business Owner (Provisional), a Senior Executive (Provisional), a State or Territory Sponsored Senior Executive, State or Territory Sponsored Business Owner (Residence) Visa, an Investor (Provisional) or a State or Territory Sponsored Investor (Provisional) Visa;
  • Throughout the 12 months immediately before the application is made, your (or you and your spouse’s) main business employed at least 2 full-time employees who are Australian citizens, Australian permanent residents or New Zealand passport holders and who are not members of your family unit;
  • Throughout the 12 months immediately before the application is made, the net value of your (or you and your spouse’s) personal and business assets in Australia has been at least AU$250,000;
  • Throughout the 12 months immediately before the application is made, the net value of your (or you and your spouse’s) assets in the main business in Australia is at least AU$100,000;
  • In the 12 months immediately before the application is made, your main business had a turnover of at least AU$300,000;
  • You own at least one of the following percentages of that main business (or two main businesses):
    • 51 per cent of a business with a turnover of less than AUD400 000 per annum
    • 30 per cent of a business with a turnover of more than AUD400 000 per annum
    • 10 per cent of a publicly-listed Company
  • You have had, and continue to have, an ownership interest and direct and continuous management, in 1 or more actively operating main businesses in Australia for at least 2 years immediately before application is made;
  • For each business, an Australian Business Number (ABN) has been obtained and all Business Activity Statements (BAS) required by the ATO for that period have been submitted to the ATO, and are included in the application;
  • Neither you or your spouse have a history of involvement in a business or investment activities of a nature not generally acceptable in Australia; and
  • You have been in Australia as the holder of one of the qualifying visas for a total of at least 1 year in the 2 years immediately before the application is made.

If you are intrested to immigrate to Australia, fill out our online assessment form.

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