Business Innovation and Investment (Permanent) visa (subclass 888)
The 888 visa is a permanent residency visa for people who want to continue to own and manage a business in Australia, or to continue business and investment activity in an Australian state or territory.
An 888 visa allows you to:
- manage your business and investments in Australia
- stay in Australia indefinitely
- work and study in Australia
- enrol in Medicare, Australia's health care scheme
- apply for Australian citizenship once you are eligible
- sponsor eligible relatives for permanent residence
- travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia)
- qualify for a Special Benefit from Centrelink if you suffer a major change of circumstances that is beyond your control.
Like the 188 visa, the 888 visa has the same three streams:
- Business Innovation stream
- Investor stream
- Significant Investor stream
Eligibility for an 888 visa
You may be eligible for an 888 visa:
- if you hold a 188 visa in the Business Innovation stream (or the Business Innovation Extension stream), you have been in Australia on this visa for at least 1 of the 2 years prior to your application.
- if you hold a 188 visa in the Investor stream, you have been in Australia on this visa for at least 2 of the 4 years prior to your application.
- if you hold a 188 visa in the Significant Investor stream (or the Significant Investor Extension stream), you have held this visa for a continuous period of at least 4 years. Additionally, you have been in Australia on this visa for a minimum of 160 days in 4 years, 240 days in 6 years (where you have received one extension) and 320 days in 8 years (where you have received two extensions).
In general you must have been in Australia as the primary holder of the 188 visa in order to apply for an 888 visa, although some exceptions apply. Please consult us for more details.
Note that you may also be eligible to be granted an 888 visa if you 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. Please consult us for more details.
You can apply for an 888 visa from outside Australia, or inside Australia so long as you do not have a ‘No Further Stay’ condition on your Australian visa and you meet any other requirements for an onshore application.
Criteria for an 888 visa
Your 888 visa application must satisfy particular criteria such as:
- where you held a 188 visa, you met all the requirements of that visa in the stream in which you applied (for example, where you held a 188 visa in the Investor and Significant Investor streams, you can show that you held the investment for at least 4 years)
- you are nominated by a State or Territory Government
- you and your partner have not been involved in unacceptable business or investment activities
- you and your partner have satisfactorily complied with certain Australian laws relating to your business
- you and any eligible family members meet health and character requirements where you have not already proven this in order to be granted a 188 visa.
Please note that the above list is not exhaustive as each stream of the 888 visa also has its own criteria. Please consult us for more details.
How we can help with your 888 visa application
Our experienced Immigration Lawyers and Registered Migration Agents can advise you on all of the requirements for an application for an 888 visa. For example. if you are eligible for an 888 visa as the holder of a Provisional Business Innovation and Investment visa (subclass 188), you must show that you have met the particular targets for your business or investment activity in Australia for the particular stream in which you held your 188 visa.
If you are eligible for an 888 visa, we will facilitate the process for you so that your transition to a permanent visa is as quick and efficient as possible. Please contact us today to schedule a consultation with one of our lawyers and Migration Agents.
This page provides a summary of the 888 visa as at May 2015. Australian immigration law is complex and it changes on a rapid basis. We therefore recommend that you contact us to confirm the requirements for an 888 visa and consult with one of our Solicitors and Registered Migration Agents.