Business Innovation and Investment Visa (subclass 888)- The Pathway to Permanent Residency

The Business Innovation and Investment visa (subclass 888) is a permanent visa that allows a person to obtain Australian Permanent Residency by making a significant financial investment in Australia.

In order to be eligible for the subclass 888 visa, a person must first have been nominated by an Australian State or Territory or the Federal Government, and either:

  • hold a provisional Business Innovation and Investment visa (subclass 188) and have met the requirements of that visa in the relevant stream via which you applied for that visa, or
  • as a New Zealand citizen, hold a Special Category visa (subclass 444) and have met the requirements of the business innovation stream.

This visa gives you and any member of your family unit the right to:

  • stay in Australia indefinitely
  • work and study in Australia
  • access Medicare benefits
  • apply for Australian citizenship (when you become eligible)
  • sponsor eligible relatives to come to Australia permanently, and
  • travel to and from Australia.

These visas, and the conditions around them, are very complicated. Always be sure to obtain advice specific to your situation before making an application, to ensure you have the best chance of success.

Both of these visas require you to make a significant financial investment in Australia (between $1.5 million and $15 million, depending on the visa being applied for) for a minimum period of time.

The purpose of these investor visas is to attract individuals to Australia who will make a positive contribution to the growth of Australian businesses; in particular, emerging companies.

Before a person can apply for either the 891 or 888 Permanent visa, they must already hold the equivalent temporary visa for that stream and complied all relevant conditions.

Please click the below links for detail on each of these migration pathways.

Significant Investor Visa (subclass 891): The applicant must hold an Investor (Provisional)(Subclass 162) visa and maintained a minimum investment of $1.5 million in Australia for four years.

*Note: The subclass 162 visa is no longer open to new applicants*

Business Innovation and Investment Visa (subclass 888): The applicant must hold a provisional Business Innovation and Investment visa (subclass 188), must have been nominated by an Australian State or Territory or the Federal Government and have met the requirements of their current visa.

These visas, and the conditions around them, are very complicated. Always be sure to obtain advice specific to your situation before making an application, to ensure you have the best chance of success.