Business Innovation and Investment (Permanent) Visa Subclass 888

What Is the Business Innovation and Investment Visa Subclass 888?

The 888 business visa is a permanent visa that permits investors, business owners and entrepreneurs to continue their activities in Australia.

This visa has the following streams:

1. Business Innovation Stream

This visa allows holders who have undertaken a complying investment and business activity in Southern Australia that satisfies a ‘benefit to state’ requirement. You should be able to show ongoing business involvement while you are applying for the visa.

2. Investor Stream

This visa permits you to continue with your investment activities in Australia on a permanent basis. You need to have invested AUD $1.5 million into a complying investment fund over the time period of 4 years.

3. Significant Investor Stream

With this visa, you can continue your investment activities. However, you need to have invested AUD $5 million in a complying investment fund for the entire duration of 4 years.

4. Premium Investor Stream

You can continue your investment activities through this Australian visa, but you have to hold AUD15 million for the duration of your provisional subclass visa 188.

5. Entrepreneur Stream

This visa allows you to continue to operate your business in Australia and fulfil the obligations to maintain your nomination status. You must also demonstrate a successful record of entrepreneurial activity while you hold your provisional visa.

What Visa Subclass 888 Lets You Do in Australia?

This visa allows you to do the following:

• Continue to be the owner and manage a business in Australia.
• Proceed to manage business and investment activities in Australia.

What Is The Eligibility Criteria For 888 Business Visa In Australia

To be eligible for the subclass 888 visa, you must fulfil the following criteria:

1. Common Criteria For All Streams

• Held a provisional business innovation and investment subclass 188 visa and satisfied all the requirements of the stream you applied for.
• Or, be the spouse or de facto partner of the 188 visa holder and be able to meet the primary requirements of the 888 visa.
• Or, hold a special category visa subclass 444 and satisfy the requirements well.
• You have to be nominated by a territory or state government agency.
• Not be associated or involved with any unacceptable business or investment activity.
• You must follow Australian laws about superannuation, taxation and workplace relations.
• You must know at least functional English and sign the Australian Values Statement.
• You should not have a visa cancelled or a previously refused application.
• Meeting health and character requirements is mandatory as well.

2. Specific Criteria For Individual Streams

What Are the Business Innovation and Investment Subclass 888 Visa Requirements?

As per the 888 visa requirement specified by the Department of Home Affairs, you will require the following documents:

• A passport or any relevant travel document.
• Bank statements for the past two years.
• Must have resided in Australia for a minimum of 2 years before submitting the subclass 888 application.
• Have had an ownership interest in any Australian business for the past 2 years.
• Your business has to have an ABN and must register the necessary Business Activity Statements (BAS) for the previous 2 years.
• Should have an income of a minimum of AUD 300,000 in the past 12 months.

You must also fulfil any one of the points stated below:

• Net capital has to be mandatorily AUD 200,000.
• 2 full-time employees should not be relatives and must be NZ passport holders or Australian citizens or permanent residents.
• Net personal capital should be AUD 600,000.

Step-by-Step Application Process Of Visa Subclass 888

Here are the steps you need to undergo while lodging for the 888 visa application:

1. Determine Your Visa Type

On the basis of what your business is, select the appropriate visa stream for your purpose.

2. Create an ImmiAccount

You have to visit the official site of DHA and set up an ImmiAccount. Finally, register on the ImmiAccount to submit your application online.

3. Gathering Required Documents

Before proceeding with your application, gather all the necessary documents required to prove your identity, financial preparation and purpose of travel. Your application process is streamlined when everything is by your side in advance.

4. Complete the Online Application

Fill out your application form and provide accurate details, such as your personal information and business activities.

5. Uploading the Supporting Documents

Attach the required documents in a digital format of your passport, financial proof and other associated requirements.

6. Submit the Application

Pay the specified application fee and double-check if the information you have provided is alright. Once everything looks perfect, proceed to submit your application.

7. Receive the Visa Decision

If your visa outcome is positive, you will receive a notice of grant through your ImmiAccount.

What Is The Processing Time & Cost Of 888 Visa?

Here are some tables that will help you to understand the processing times of different streams under the visa 888:

The cost of business innovation and investment permanent visa subclass 888 is AUD3500.00.

Why Is Ritam Global the Best Choice For 888 Visa Application?

Ritam Global stands strong by your side for our transparent approach and guidance throughout the 888 visa process. Our team presents you with clear insights on how to improve the quality of your application, handling paperwork very carefully. Our reliable migration agent Perth helps clients to move ahead with their visa confidently, preventing the common risks of the application. Let us look at some ways we can be useful to you:

1. Strategic Eligibility Assessment

We review your business and investment history in-depth, ensuring all requirements are fulfilled accurately.

2. End-to-end Documentation Support

Our team prepares all the mandatory documents and organises them with precision. This reduces the likelihood of errors in them, presenting your application in a clarified format.

3. Proactive Case Monitoring

We update you on the progress of your application after honestly tracking it, helping you respond to additional requests for information.

4. Clear Communication and Guidance

With our migration consultant Perth, you receive practical advice on the basis of experience gained throughout the years.

Ready To Secure Your Subclass 888 Visa? Speak To Our Experts Today!

Are you ready to take the next step towards permanent residency with the subclass 888 visa? Our experienced team offers you personalized guidance and steady support throughout your journey. Hence, consulting a migration agent Cannington gives you confidence and professional assistance so that you can move forward with your business in Australia!