Planning to expand your business by obtaining a permanent residency visa? Then the Business Innovation and Investment (Permanent) visa Subclass 888 is your pathway to PR. For expert legal assistance on your 888 visa application, consult with immigration experts at Parish Patience. Book your appointment with one of our lawyers today!
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:
With a visa subclass 408, you can:
For each stream there are specific financial requirements that applicants must meet. They are as follows.
Your annual business turnover must amount to no less than AUD 300,000 12 months before your actual application
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.
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.
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.
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.
Talk to one of our Visa Experts Now.
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.
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.
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.
Once it’s determined that you qualify and we’re confident that you will be granted an 888 visa, we’ll lodge your application.
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 partner up with Parish Patience Immigration Lawyers, a Sydney-based immigration law firm?
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.
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.
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.
We’re confident that our combined experience, expertise, and full dedication to client service will result in your complete satisfaction. That’s 100% guaranteed!
Talk to one of our Visa Experts Now.
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With over 135 years in law practice, you can trust Parish Patience and our team of excellent immigration lawyers to handle your student visa application. Whether you’re applying inside or outside Australia, we can help you better understand the intricacies of immigration law through our combined expertise and experience. Schedule a meeting with a Parish Patience lawyer today to get started!
Have other questions about this type of visa? We gathered and answered some of the most
frequently asked questions about ENS 186 visa below.
Visa 888 Australia is a permanent residency visa that allows holders of a 188 visa (temporary) to continue doing business and investment activities in Australia on a permanent basis. It has five streams under it, including Business Innovation, Investor, Significant Investor, Premium Investor, and Entrepreneur.
Processing times differ per stream. Under the Business Innovation stream, for example, it generally takes 26 to 31 months. Processing time under the Significant Investor stream takes about 27 to 35 months. Note that these are always subject to change.
Factors such as the complexity of each individual case, volume of applications, and compliance of applicants in terms of what documents to submit all affect processing times. Consult with a migration professional for advice and stress-free visa processing.
Yes, an Australian visa 888 is the PR pathway for holders of a temporary business and investment visa under subclass 188.
If applying for a permanent visa 888 under the Investor stream, the minimum investment amount is A$2.5 million if you were granted your temporary investor visa on/after 1 July 2021, and at least A$1.5 million if you were granted your temporary investor visa before 1 July 2021.