Permanent Business Innovation and Investment Visa (Subclass 888)
Permanent Business Innovation and Investment Visa (Subclass 888) is a permanent visa which allows the holder to remain in Australia permanently to continue:
(1) owning and managing a business;
(2) conducting business and investment activities; and
(3) entrepreneurial activity in Australia.
The criteria to be satisfied depends on the stream the applicant is applying under:
Business Innovation stream
888 Visa holder is intended for businessmen and entrepreneurs to manage a new or existing business in Australia and stay in Australian indefinitely
Investor stream
Business Innovation and Investment Provisional (subclass 188) visa holder is required to invest AUD1.5 million in an Australian state or territory. Visa holder can stay indefinitely in Australian and continue business and investment operations.
Significant investor stream
Business Innovation and Investment Provisional (subclass 188) visa holders that invest AUD5 million in Australian investments and meet certain requirements are permitted to retain business and investment in Australia indefinitely.
Premium Investor stream
This visa is for people in the who are in Business Innovation and Investment Provisional (subclass 188) stream to stay indefinitely and maintain investment activities in Australia
Entrepreneur Stream
This visa allows the holder to carry out entrepreneurial activities in Australia and stay indefinitely.
Eligibility
To be eligible for the 888 Visa, the applicant or spouse/de facto partner:
(1) is nominated by the state/territory or the Australian government;
(2) continues to hold a Business Innovation and Investment (Provisional) Visa (Subclass 188); and
(3) satisfied the requirements of that visa in the stream first applied.
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