Business Innovation and Investment (permanent) visa (subclass 888)

Business Innovation and Investment (permanent) visa (subclass 888)

A) Business Innovation Stream

• Online application; must be ongoing business involvement in up to two main businesses in Australia with business activity statements submission to the Taxation office and meet criteria.
• Nomination from an Australian state or territory government agency
• Be nominated by a state or territory.
• Annual business turnover should beAUD 300,000.
• Residency requirement.

• 51% of the total value of a business with a turnover of less than AUD400,000 per year, or 30% of the total value of a business with a turnover of AUD400,000 or more per year, or 10% of the total value of a business that is operated by a publicly listed company

Business Acquisition

• assets of AUD200,000 net value in your main business (or 2 main businesses) in Australia
• personal and business assets in Australia of AUD600,000 net value
• equivalent of at least 2 full-time eligible employees in your main business

B) Investor visa

• you must have held a designated investment of AUD1.5 million for 4 years
• You must have a current nomination from a state or territory.

• 4 years if the provisional visa was granted on the basis of an application made on or after 1 July 2015; or
• 3 years and 11 months if the provisional visa was granted on the basis of an application made before 1 July 2015.
• You must have been physically present in Australia for at least 2 years in the 3 years immediately before you apply.

C) Significant Investor stream

• you must hold a subclass 188 visa in the Significant Investor stream or Significant Investor Extension stream
• you must have held a complying investment of AUD 5 million for 4 years
• hold, or for some people, must have held, a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream or Significant Investor Extension stream, and
• have a current nomination from a state or territory government agency or Austrade which has not been withdrawn.
• When we granted your Business Innovation and Investment (Provisional) visa, you invested AUD5 million in a ‘complying investment’ or a ‘complying significant investment’.

D) Premium investor stream

• you must have held a complying investment of AUD15 million for the duration of your subclass 188 visa
• You must have a current nomination from Austrade
• When we granted your Business Innovation and Investment (Provisional) (subclass 188) visa in the Premium Investor stream, you invested AUD15 million in a 'complying premium investment'.

E) Entrepreneur stream

• you must have held a subclass 188 visa in the Entrepreneur stream for 4 years
• have lived in Australia for at least 2 years while on the above visa
• you must demonstrate a successful record of entrepreneurial activity in Australia while you held your subclass 188 visa
• You must have a current nomination from a State or Territory government agency.
• Have a successful record of entrepreneurial activities