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Subclass 888 Permanent Business Innovation and Investment Visas



Who is the Business Innovation and Investment (Permanent) Visa Subclass 888 for?Immigration News

Subclass 888 – Business Innovation and Investment Visa

 

Who can apply for Business Innovation (Permanent) visa (Subclass 888)?

The Subclass 888 – Business Innovation and Investment Visa is a permanent Australian visa. It is the last stage of the temporary Australian Business Innovation and Investment Visa (Subclass 188). Subclass 888 visas are available for business owners and entrepreneurs who would like to continue their activities as permanent Australian residents.

 

Who is eligible for a Subclass 888 Business Visa?

To acquire the Subclass 888 visa, you must be a holder of a Subclass 188 visa, a special category Subclass 444 visa, or a business long-stay Subclass 457 visa (in limited circumstances).

Those eligible for Subclass 888 visas are: business innovators, significant investors, premium investors, and entrepreneurs, interested in continuing with investment or entrepreneurship activities indefinitely in Australia.

In most cases, holders of Subclass 188 visas are the ones who go for Subclass 888 visas. Subclass 188 is a four-year temporary visa for people who want to manage or start a business in Australia. Once an ownership interest is achieved, one can apply for permanent residency through the Subclass 888 visa.

 

What are the requirements for a Subclass 188 visa?

  • Have at least 65 points in the business innovation and investment point test;
  • Have a successfully established business in Australia, and have employed at least two Australian citizens as full-time employees;
  • Have at least AUD 800,000 in personal and business assets; and
  • Have a business with a profit of at least AUD 500,000 for the last two out of four years.

 

What are the requirements for a Subclass 888 visa?

After holding the Subclass 188 for a minimum of four years, the applicant can apply for a Subclass 888 visa to acquire permanent residency in Australia.

 

The applicant must also satisfy the following criteria:

  • Be a resident of Australia for at least 12 months on a Subclass 188 visa within the two years before lodgment.
  • Having employed at least two full-time Australian employees in your business in Australia.
  • Have a net personal and business value of at least AUD 600,000 in Australia
  • Owned and operated a business in Australia for at least two years before the application with an annual turnover of at least AUD 300,000 for the past two of four years.

 

Applicants can apply under one of five distinct streams within the Subclass 888 visa: the Business Innovation stream, the Investor stream, the Significant Investor stream, the Premium Investor stream, and the Entrepreneur stream. Each stream has specific corresponding criteria and conditions so get in touch to find out which pathway would be most suitable for you.

 

How long will a Subclass 888 visa take to be processed?

Time taken in processing differs depending on the type of stream applied for, and how well one meets the requirements and the eligibility criteria. In the business innovation stream, applications tend to take 10-11 months to be processed. Applications under the significant investment stream tend to take 7-9 months to be processed.  In terms of the processing time for applications under the investor stream and entrepreneur stream, the Department is unable to provide an estimate processing time due to the low volume of applications in these streams.

 

Achieving a successful application of a Subclass 888 visa

To achieve a successful Subclass 888 visa application, it is important to consult directly with an immigration lawyer to ensure that all of your personal and business interests can be secured throughout the process.

 

Why you should engage a migration agent when applying for Business Innovation Stream – 888 visa

Assisting and advising from the application process to the traveling stage:

The immigration lawyers at No Borders Migration can provide a detailed and clear assessment of your situation before advising you on the next step to take in the application for a Subclass 888 visa. Many problems arise at this stage because most applicants do not understand the precise protocols concerning the Subclass 888 visa. Our lawyers will help you to avoid compromising situations like an expired provisional Subclass 188 visa from affecting your Subclass 888 application.

 

Checking your eligibility and determining if you have met the requirements:

Most applicants fail to meet the eligibility criteria unknowingly. The immigration lawyers at No Borders Migration are experienced in in identifying whether applicants have all the requirements needed to ensure you are eligible for the Subclass 888 visa. Clients who have not achieved the set requirements are advised on the appropriate steps to take for them to avoid disqualification. This helps avoid the last-minute rush.

 

Advising on the supporting documents required:

Different businesses need different supporting documents for the application to be complete. At No Borders Migration, Australian immigration specialists and lawyers can assess your business or investment then advise on the required supporting documents. They also review the supporting documents that you have to ensure you are providing the strongest application you can. In the case that you do not have all of the required documents, our lawyers can help you in finding alternatives and can point you in the right direction.

 

Supporting you throughout the process:

Our lawyers are there for you from start to finish. This makes it easier for you to go through the application process without any difficulties. To submit your application efficiently and accurately, making use of our knowledgeable and experienced agents and lawyers will be your ultimate option.

 

Subclass 888 visas gives you the freedom to stay and operate your businesses in Australia indefinitely. Therefore, one needs to be determined in meeting the requirements to enjoy the benefits.

 

Make your application a success by contacting our team of experienced immigration lawyers and agents at any time for applying for Business Innovation and Investment Visas. We look forward to working on your application process and help you for permanent residence in Australia.

 

 

Are you eligible for a 888 visa? Book a Migration Consultation to get expert advice.

 

Need help with your Australian Visa Application?

NO BORDERS: #1 TRUSTED MIGRATION AGENTS

Email: service@noborders-group.com

Tel:  +61 (07) 3876 4000

We will help you exploring visa options and securing application. No Borders Migration is experienced in the Subclass 888 Business Innovation and Investment visa application, and our lawyers have extensive knowledge in the  legal requirements, eligibility criteria, and the supporting documents required. If you would like to start applying for Business Innovation and Investment Visas, please make an enquiry  or  book a consultation with one of our knowledgeable and experienced Migration Agents/Lawyers now. Or Simply dial 07 3876 4000 or email: service@noborders-group.com and let us help you start wtih your way towards obtaining Business Innovation and Investment (Permanent) visa (subclass 888).

 

 

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