888 Visa: Business Innovation and Investment

Benefits of 888 Visa

If you hold a temporary business visa and wish to continue doing business and investments in Australia, you can apply for a permanent visa under subclass 888. Provided you meet all eligibility requirements, being a subclass 888 permanent visa holder allows you to:

• Reside in Australia in an indefinite period of time as a permanent resident.
• Gain employment or education in Australia as a permanent resident.
• Receive healthcare benefits under Medicare.
• Become a bona fide Australian citizen by applying for Australian citizenship.
• Sponsor eligible family relatives to also obtain Australian PR or citizenship.
• Legally travel to and from Australia whenever, wherever for five years since you first obtained your visa.

Visa Streams Under 888 Business Visa in Australia

For each stream there are specific financial requirements that applicants must meet. They are as follows.

Business Innovation Stream

Your annual business turnover must amount to no less than AUD 300,000 12 months before your actual application

Investor Stream

You must have had at least AUD 2.5 million in a ‘complying significant investment’ since you were granted your provisional visa on/after 1 July 2021.

You must have held at least AUD 1.5 million in a ‘designated investment’ since you were granted your provisional visa before 1 July 2021.

Significant Investor Stream

You must have had at least A$5 million in a ‘complying significant investment’ since you were granted your temporary visa on/after 1 July 2021.

Premium Investor Stream

You must have had at least A$15 million in a ‘complying premium investment’ for the last 12 months as a holder of a temporary visa under this stream.

Entrepreneur Stream

You must show proof of ‘key success factors’ such as an annual turnover of at least A$300,000 and employment of at least two Australian citizens/permanent residents.

Eligibility Criteria for the 888 Business Innovation and Investment Visa

The 888 visa will be your ticket to take that next step not only to make your business big but also grant permanent residency. It is specially meant for entrepreneurs and investors who have proven their success and commitment to their business in Australia. 

So, who’s qualified for the 888 visa? 

• Holders of Provisional subclass 188 visa, Subclass 444 (Special Category) visa, or Subclass 457 (Business – Long Stay) visa.
• Must be an ongoing business owner/investor in Australia with minimum turnover requirements.
• Spent a significant time in Australia handling investment or business.

The 888 business visa lets you enjoy the benefits of permanent residency and grow your business further. You also contribute to Australia’s economy, so it is only right to reward entrepreneurs and enjoy the benefits as Australian citizens do.

Common 888 Visa Requirements

There are five streams under subclass 888 visa. In order to qualify and continue doing business and investor activities within Australia, you must satisfy the following basic requirements.

• You must maintain a current nomination from the State or an Australian government agency.
• You must have lived in Australia for at least one (1) year in the business innovation stream, four (4) years in the investor stream, and at least two (2) years in the entrepreneur stream immediately before lodging your 888 visa application.
• You must show proof of successful business, investment, and entrepreneurial activities, as well as a realistic commitment to continue doing these economic activities.
• You must meet all health, character, and ‘functional’ English proficiency requirements, and sign a statement confirming you’ll abide by all Australian laws and respect Australian values.
• You must not have been involved in illegal business activities, have no active debt owed to the Government, or have an immigration history of visa refusals.

888 Business Visa Cost

The base 888 business visa cost starts at AUD 3,400. Note that there will be additional charges for family members.

• Primary Applicant: AUD 3,400
• Additional Applicant (18+): AUD 1,705
• Additional Applicant (Under 18): AUD 850 (or AUD 85 for the Significant Investor stream)

How a Parish Patience Immigration Lawyer Can Help With Your Visa 888

Seek a migration specialist’s help so you won’t get easily overwhelmed by the process and bulk of requirements. Here’s how an immigration lawyer at Parish Patience can handle it all for your peace of mind.

Initial Appointment

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In order to fully understand your case and eligibility, we’ll have a meeting where we answer all your queries and ask you questions back to gauge if you qualify for and meet the conditions.

Eligibility Assessment

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At this point, we’ll have a full-on assessment of your qualifications, including meeting the residency requirement, your business and investment activities, and other criteria.

Visa Application

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Once it’s determined that you qualify and we’re confident that you will be granted an 888 visa, we’ll lodge your application.

Ongoing Support

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After getting your visa, we’ll provide you with ongoing support to help you stay compliant with all Australian laws as a newly conferred permanent resident and 888 visa holder.

Why Trust Parish Patience to Process Your
888 Visa Application?

Why partner up with Parish Patience Immigration Lawyers, a Sydney-based immigration law firm?

In the business since 1888

Parish Patience has been in existence since 1888. We are among the most trusted and experienced team of experts that can guarantee success for your visa application.

Thousands of successful visa lodgements

We lost count of the visa applications we’ve lodged on our clients’ behalf nor how many PR dreams we’ve helped make come true.

Excellent lawyers and migration agents

Our long years of practice and continuous success as a law firm are because of our excellent and award-winning lawyers and registered migration agents.

100% Client Satisfaction

We’re confident that our combined experience, expertise, and full dedication to client service will result in your complete satisfaction. That’s 100% guaranteed!