Business Innovation and Investment (Permanent) Visa (Subclass 888)
The Subclass 888 visa is a permanent residence pathway for eligible business owners, investors and entrepreneurs who already hold a qualifying provisional or other eligible business visa and satisfy the requirements of the relevant stream.
The Business Innovation and Investment Program closed permanently to new applications on 31 July 2024. Subclass 888 nevertheless remains relevant to eligible existing visa holders progressing through the permanent stage of the former business migration program.
Understand the Subclass 888 Permanent Visa
Subclass 888 is the permanent stage for eligible applicants who have already entered an applicable business, investment or entrepreneur pathway. It should not be treated as a new business visa entry route for people who do not hold a qualifying visa.
Permanent Residence
A successful Subclass 888 application grants Australian permanent residence, subject to the normal travel-facility rules applying to permanent residents.
Work and Study
Permanent visa holders can work and study in Australia and continue eligible business, investment or entrepreneurial activity.
Eligible Family Members
Eligible family members may be included where the applicable visa requirements, health requirements and character requirements are satisfied.
Stream-Specific Assessment
The correct requirements depend on the applicant's original stream, visa history, nomination and activity undertaken during the provisional period.
Confirm That a Subclass 888 Pathway Is Still Available
The first permanent-stage question is not simply whether the applicant has conducted business or held investments in Australia. The visa history and original stream must first establish that a valid Subclass 888 pathway remains available.
Existing Subclass 188 Holders
Eligible holders of relevant Subclass 188 streams may still progress to Subclass 888 if the permanent-stage requirements for their stream are met.
Extension Stream Holders
Some Business Innovation or Significant Investor holders used an extension stream. The extension history and permanent-stage timing should be checked carefully.
Certain Other Eligible Holders
Some permanent-stage rules can extend to other qualifying visa holders in specified circumstances. Eligibility should be confirmed against the applicant's exact visa history.
No Qualifying Business Visa History
A person outside an eligible former business migration pathway generally cannot use Subclass 888 as a direct new-entry business visa and should consider alternative migration options.
Identify the Correct Subclass 888 Stream
The permanent visa contains several streams. The correct stream follows the applicant's qualifying visa history and the business, investment or entrepreneurial activity undertaken in Australia.
Business Innovation
For eligible business visa holders who owned and directly managed qualifying Australian business activity and satisfy the applicable permanent-stage criteria.
Investor
For eligible Investor stream holders who maintained the required investment for the applicable period and satisfy the relevant residence and nomination requirements.
Significant Investor
For eligible Significant Investor holders who maintained the required complying investment structure and satisfy the applicable residence and nomination rules.
Premium Investor
For eligible Premium Investor holders who maintained the required premium investment arrangements and satisfy the applicable nomination and holding-period requirements.
Entrepreneur
For eligible Entrepreneur stream holders whose entrepreneurial activity and visa history satisfy the permanent-stage requirements applying to that stream.
Check the Permanent-Stage Eligibility Requirements
There is no single Subclass 888 checklist that applies equally to every applicant. The assessment must be matched to the relevant stream and the timing of the applicant's provisional pathway.
Qualifying Visa History
Confirm the current visa, original stream, any extension visa and the dates relevant to the permanent-stage criteria.
Nomination
State, territory or Austrade nomination may be relevant depending on the stream. The current nomination position should be checked before lodgement.
Business or Investment Activity
Applicants must demonstrate the business ownership, management, investment or entrepreneurial activity required by their stream.
Residence
Residence requirements vary between streams and can depend on the visa history and the period over which the qualifying activity occurred.
Holding Periods
Investment and visa holding periods can be critical. The relevant period should be calculated from the applicant's actual visa and investment history.
Health and Character
Applicants and relevant family members must satisfy the applicable health and character requirements.
Check Nomination, Residence and Compliance
Permanent-stage preparation should confirm that the applicant's nomination, residence history and conduct of business or investment activity align with the requirements applying to the relevant stream.
Nomination Position
Do not assume the original nomination automatically resolves every permanent-stage nomination requirement. Confirm the current position with the relevant nominating authority.
Residence History
Travel history and time spent in Australia should be checked against the residence requirement applying to the relevant stream.
Australian Law Compliance
Business operators should be able to demonstrate compliance with taxation, superannuation, workplace and other applicable Australian laws.
Timing
Visa expiry, qualifying periods, investment holding periods and nomination timing should be reviewed before the application becomes time-critical.
Prepare Consistent Business and Investment Evidence
Subclass 888 applications can be evidence-heavy. Records should be reviewed as a coherent set rather than collected independently at the last minute.
Business Ownership
ASIC records, company or trust documents, shareholding records, acquisition documents and evidence of continuing ownership.
Financial Records
Financial statements, business tax returns, BAS and bank records supporting turnover, assets and genuine business activity.
Employment Records
Where relevant, payroll, PAYG, employment contracts, superannuation and other evidence supporting eligible employment arrangements.
Investment Evidence
Fund manager statements, investment records, transfer records and evidence that qualifying investments were maintained for the required period.
Residence Evidence
Travel history and supporting records demonstrating residence against the requirement applicable to the relevant stream.
Visa and Nomination Records
Visa grant notices, invitations, original nomination, extension records and correspondence that may affect the applicable permanent-stage rules.
Consider Alternative Migration Pathways if Subclass 888 Is Not Available
If the applicant does not hold a qualifying business visa or cannot meet the permanent-stage requirements, the migration strategy should be reassessed rather than forcing an unsuitable Subclass 888 application.
Skilled Migration
May be relevant where the applicant has a suitable occupation, skills assessment, English profile and points-based pathway.
Employer-Sponsored Migration
May be relevant where a genuine eligible employment and sponsorship pathway satisfies the applicable visa criteria.
National Innovation Visa
May be relevant for exceptionally accomplished applicants whose achievements align with the National Innovation Visa framework.
Family or Other Pathways
Depending on personal circumstances, partner, family or other visa options may need to be reviewed alongside skilled and business pathways.
Check Official Subclass 888 Information
Government charges, program settings and processing information can change. Current official information should be checked when preparing or monitoring an application.
Subclass 888
Read the current Department of Home Affairs information for the Business Innovation and Investment (Permanent) visa.
View Home AffairsBIIP Closure
Read official information about the permanent closure of the Business Innovation and Investment Program to new applications.
View BIIP ClosureVisa Pricing
Check current visa application charges and additional applicant charges directly with Home Affairs.
Check Visa PricingFrequently Asked Questions
Select a question to expand the answer.
Is Subclass 888 still available after the BIIP closure?
Yes, for eligible applicants already within a qualifying business or investment visa pathway. The closure on 31 July 2024 stopped new applications to enter the provisional BIIP program.
Can a new overseas business owner apply directly for Subclass 888?
Subclass 888 is a permanent-stage pathway linked to qualifying prior visa history. A person outside an eligible pathway should have other Australian migration options assessed.
Do all Subclass 888 applicants have the same requirements?
No. Requirements vary by stream and can also depend on the timing and history of the provisional visa, nomination, residence and business or investment activity.
Do I need state or territory nomination?
Nomination is relevant in several Subclass 888 streams. The correct nominating authority and permanent-stage requirement depend on the stream and visa history.
What records should a business owner prepare?
Common evidence includes ownership documents, financial statements, tax returns, BAS, bank statements, employee records, nomination documents and visa history. The required evidence depends on the stream.
How long does a Subclass 888 application take?
Processing times are not fixed and can change. Current Home Affairs processing information should be checked when the application is prepared and while it is being processed.
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