Australia Business Innovation And Investment Residence Visa Subclass 888
This Residence visa is the permanent stage of the Business Innovation and Investment Visa Subclass 188. There are two streams under this visa option:
Business Innovation Stream: This stream needs you to have an established business in Australia which meets turnover and asset requirements.
Investor Stream: You must have held an investment in Australian bonds for 4 years.
Place Of Visa Application
You can be in or outside of Australia while lodging the visa application.
You must hold a Provisional Business Innovation and Investment Visa Subclass 188 in most of the cases. In general, the primary visa holder for visa subclass 188 must be the primary applicant of visa subclass 888, rather than the partner or spouse.
There would be an exception for the cases of separation or death of the primary applicant.
You have to lodge your visa application online.
This visa is only available to the people who have the nomination from an Australian State/Territory government.
- You must have the nomination from an Australian State/Territory government which nominated you for the visa subclass 188 unless you have the permission of changing the State/Territory.
- You must commit genuinely to maintain your investment activities or your business in Australia.
- You must have a satisfactory compliance with applicable State and Territory, and Commonwealth laws.
Business Innovation Stream Criteria
You should need the following if applying through this option:
- You must stay in Australia for at least 1 year of the 2 years prior to the application.
- You had an interest in ownership in an Australian Business for last 2 years.
- Your business must have an ABN and must have lodged all the necessary Business Activity Statements (BAS) for the last 2 years.
- Your business had a turnover of at least AUD 300,000 for the last 1 year unless you live in a regional area of Australia, operate a business in that area, and the State/Territory government has shown the exceptional circumstances of the area.
- You must meet two below the three criteria for 1 year prior to your application:
- Minimum AUD 200,000 net assets in the business.
- Two full-time employees working in your business wherein they must be Australian residents, citizens, or NZ passport holders, and must not be relatives.
- Minimum AUD 600,000 net personal assets.
Investor Stream Criteria
This option requires you to hold an Investment Stream Provisional Visa Subclass 188, and meet the below criteria:
- You must show your residency in Australia for at least 2 years of the last 4 years.
- You must have maintained the investment of AUD 105 million in an Australian State/Territory Bonds for a constant period of 4 years.
Contact us or mail us at email@example.com for more information on Business Migration Visas.