Business Innovation, Investment and Business Talent, Entrepreneur Streams
Subclass 888

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    Business Innovation, Investment and Business Talent, Entrepreneur Streams - Subclass 888 (Permanent)

    This Visa is designed for people to hold a provisional Business Innovation, Entrepreneur or Investment visa (subclass 188) and have met the requirements of that visa in the stream in which the visa holder first applied.

    WHO IS ELIGIBLE FOR THIS VISA?

    • You are the primary or secondary visa holder (partner) of a provisional Business Innovation or Investment visa (subclass 188), which are:
      • Business Innovation Stream – Subclass 188
      • Investor Stream – Subclass 188
      • Significant Investor Stream- Subclass 188
      • Business Talent – Entrepreneur subclass 188
    • Have met all the requirements of your provisional Business Innovation and Investment visa in the stream in which you first applied.
    • Hold a current nomination by a state or territory government.

     

    1. For 188 Business Innovation Stream Visa holders:

     

    In the 2 years immediately before you apply, you must have:

    • Owned and continue to have an ownership interest in up to 2 businesses in Australia;
    • Had a direct and continuous management role in that business or businesses;
    • Your main business has an Australian Business Number (ABN) and you have submitted Business Activity Statement (BAS) regularly to the Australian Taxation Office in the last two years

     

    For the 24 months immediately before you apply you must own at least:

    • 51% of the total value of a business with a turnover of less than $400,000 or
    • 30% of the total value of a business with a turnover of $400,000 or more per year, or
    • 10% of the total value of a business that is operated by a public company.
    • Your main business or businesses (or the businesses of your spouse or de facto partner, or of you and your spouse or de facto partner together) had an annual turnover of at least AUD300,000 in the last 12 months immediately before the application is made.;
    • You or your partner (or you and your partner together) must also have achieved at least 2 of the following 3 business requirements for the last 12 months prior to lodging the application:
      • main business (or businesses) has net business assets of at least AUD 200,000 in Australia continuously
      • Held net personal and business assets of at least AUD 600,000 in Australia
      • Have employed two full-time employees, who are Australian citizens, permanent residents, or eligible NZ citizens, in your main business.
    • You must have been physically present in Australia for at least 1 year in the 2 years immediately before you apply.

     

    1. For 188 Investor Stream Visa holder:

    You must hold a current State or Territory Nomination

    • You, or your spouse or de-facto, must have been in Australia and held an Investment (Provisional) visa 188 for at least 2 of the 4 years. This does not need to have been continuous stay;
    • You must have maintained your designated investment of AUD1,500,000 with an Australian State or Territory for at least 4 years. This must be held in your own name, or in the names of yourself and your spouse or defacto partner together.

     

    1. For 188 Significant Investor Stream Visa holders:

     

    • You must be the primary holder of a subclass 188 visa in the Significant Investor stream Visa for a continuous period of at least four years;
    • This visa was granted when you were the spouse or de-facto partner of a person who was the primary applicant and that relationship has ceased or the primary holder has died;
    • You must hold a current State or Territory Nomination or from Austrade;
    • You must have held your AUD5,000,000 in complying investments over the 4 years;
    • You must have been in Australia on Significant Investor stream Visa for a minimum of 160 days, or the equivalent of 40 days per year the visa was held.
    • Alternatively, if your spouse or de facto partner is the main applicant they must have been in Australia on a Business 188 visa, granted on the basis that you held a subclass 188 visa in the Significant Investor stream or the Significant Investor Extension stream, for at least the number of days worked out by adding the results of paragraphs (a) and (b) as follows:

    (a) 180 multiplied by the number of complete years in the period in which you held a subclass 188 visa in the Significant Investor Stream, and

    (b) 180 multiplied by the number of years (if any) (treating a part of a year as one year) in which you held a subclass 188 visa in the Significant Investor Extension stream.

     

    For 188 Entrepreneur Stream Visa Holders:

    This Visa lets people who have held a BIIP visa in the Entrepreneur stream, stay permanently.

    • Hold a current nomination by a state or territory government.

    You will need to show either:

    • 2 key success factors
    • 1 key success factor and 3 supporting success factors;

    Key success factors include:

    • Employing 2 or more Australians. Permanent residents or eligible NZ citizens;
    • Generating an annual turnover of at least AUD300,000
    • Filing a provisional patent or acquiring a standard or innovation patent
    • Receiving ongoing funding or investment in your entrepreneurial activity
    • Entering into a partnership with a university;
    • Selling an entrepreneur venture for AUD2 million

    Supporting success factors can include:

    • Adapting your entrepreneurial activities into other business areas;
    • Receiving a statement of success from a state or territory government nominator;
    • Receiving sponsorship from the corporate sector;
    • Starting at least 1 other business or contributing to at least 2 other businesses;
    • Receiving formal awards or recognition;
    • Raising or contributing to social capital

     

    Entrepreneurial activities in Australia can’t be:

     

    1. Residential real estate;
    2. Labour hire
    3. Buying an existing enterprise or franchise.
      • You must have resided in Australia for at least 2 years of the 4 years that you have held the provisional visa.

    What Does This Visa Let You Do?

    • Live in Australia indefinitely with your family who were included in the application and enjoy the benefits of being an Australian Permanent Resident;
    • Travel in and out of Australia for the five years from the date the visa is granted. Thereafter you would need to apply for a Residence Return Visa;
    • Work, operate a business, study in Australia – if you choose to;
    • Buy property with same terms and conditions as Australian citizens;
    • Enrol in Medicare, Australia’s scheme for health-related care and expenses
    • Apply for Australian citizenship (once you are eligible) by completing the residence requirements in Australia
    • Sponsor eligible relatives who are eligible to meet a family visa (for example, partner, parent, child etc) or certain skilled regional visas (subclass 491)

    Business Visas are complex. Please contact our team of registered migration experts for immediate advice and assistance.


    Frequently asked questions

    • Resident Return Visas – What are my Options?

      Living in Australia for at least two years (can be accumulative) in the last 5 years prior to lodging your visa you will automatically be granted a new 5 -year Permanent Residence Visa.

      If you have spent less than 2 years in Australia, then you may be eligible for a one-year RRV. You would need to present ties you have to Australia such as employment, investment, family or business ties.

      Speak to us how best to present your RRV application and what to do in the lag time between lodgement and assessment.

    • Can I apply for a Bridging visa?

      No, generally not.

      A bridging visa is granted automatically if an applicant has applied for a visa from a substantive visa and the visa which they have applied from expires but the new one they have applied for has not yet been granted. To keep someone lawfully in Australia while the new visa application is being assessed, that person automatically goes onto a Bridging visa A.

      If they want to travel outside of Australia while their visa is being assessed, then they need to apply for a Bridging visa B. At all times, a visa holder must avoid being in Australia without a valid visa or a Bridging visa. People who are unlawfully in Australia are placed on a Bridging visa E which requires them to depart Australia immediately. This usually carries a three-year restriction on any temporary visa that allows re-entry into Australia.

    • Where can I see my current visa status?

      As a visa holder, you can use VEVO to check your current visa details and conditions.

    Client Story

    SANDEEP & ASHU SHARMA

    Sandeep Sharma applied for his Permanent Residence visa under subclass 186 Employer Nominated Sponsorship, after two years of being sponsored under a 457 Employer Sponsorship visa. His Permanent Visa was granted on August 2014.

    I have been in Sydney, Australia for the last 6 years. I was referred to AustraliaMigrate by a friend of mine.

    In the beginning, I was sponsored by my company under a 457 visa. As I would like to stay on in Australia, I applied for the visa Permanent Residence Visa (186).

    The visa application process was complex and very challenging. AustraliaMigrate helped me to prepare and lodge my application in a limited time. My application was approved just within one week and my 457 long stay business visa was granted.

    Why AustraliaMigrate?

    “AustraliaMigrate Pty Ltd has been helping people around the world successfully apply for Australian visas for over 20 years.
    Our professional specialists are highly experienced in the migration environment.”

    We guide individuals and businesses through the complex migration process to Australia. With long years of industry experience, our immigration specialists have built a reputation of providing accessible, accurate and genuine advice to our esteemed clients.

    Our specialists assist in preparing and reviewing your documents and forms before submitting for successful approval. We strive to make the whole immigration process hassle-free for you.

    We have a very high success rate of visa approval and a solid reputation resulting in a large amount of repeat business. We provide immigration services to individuals, families and companies, whether they are small or public companies and in any industry.

    Immigration is the only thing we do so we are highly specialized in it.

    What our clients have to say about us

    B. SISSING

    Thank you Ian. Fabulous news. Thanks to you and your team’s effort and work. Great service.

    C. DAVIES

    Thank you SO so much for all of your patience and work on this. Still hasn’t sunk in yet that I’m actually free! Once again, massive thanks to both you and Mariola!!

    CAMILA & CHRISTIAN

    Thanks so much for this excellent news. I’m impressed how fast and smooth it all went, which is a result of excellence in services. Thanks so much for all the attention.

    M. MOBIN

    Thank you Ian ,I highly appreciate your kind efforts. Its a big day for me and my family and you make it possible. May you live long with health, wealth and peace.

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