BUSINESS INNOVATION AND INVESTMENT (PERMANENT) 888 VISA
The Business Innovation and Investment (Provisional) visa subclass 188 has a second stage, the Business Innovation and Investment (Permanent) visa subclass 888. This visa begins the permanent phase following the initial provisional 188 visa, granting individuals the right to oversee their businesses and investments in Australia permanently.
Just as the 188 visa did, the 888 visa contains a number of streams depending on the specific stream granted during the 188 visa application process. These streams include the Business Innovation stream, and the Investor stream
Eligibility for a Business Innovation and Investment (Permanent) Visa Subclass 888?
To apply for the 888 visa, applicants are not obligated to undergo an additional Points Test (Business Innovation and Business Investor stream applicants only), nor do they need to submit a new Expression of Interest (EOI) or receive an invitation from the Department. However, nomination by an Australian State or Territory, or Austrade on behalf of the Australian government, is still a requirement.
Additional primary requirements for eligibility include:
- A satisfactory record of compliance with Commonwealth laws and the State or Territory where the business operates, for the applicant and their partner.
- Meeting Australian health and character requirements.
- A genuine and realistic commitment to continuing business and investment activities in Australia after the original investment matures.
Additional requirements, contingent on the stream held in the original 188 provisional visa, will also apply.
Business Innovation Stream
Under the Business Innovation stream, applicants must have held a provisional 188 visa in the Business Innovation or Business Innovation Extension stream, or a Special Category (subclass 444) visa in Australia for at least one year, two years immediately before lodging the application.
Investor Stream
Applicants in the Investor stream must have the provisional Investor stream visa for at least two years within the four years immediately before lodging the application. They must also, or in combination with their partner, have held a designated investment with an Australian State or Territory for at least four years.
How should I Apply for a Subclass 888 Business Innovation and Investment (Permanent) Visa?
At EDT Migration, we simplify the visa application process unlike other migration law firms. Our team of experienced lawyers will guide you through each step, ensuring a swift processing of your application. Here’s our step-by-step procedure:
- Arrange a free consultation with our team of proficient lawyers. During this session, we will evaluate and recommend the Australian visa option that is most suitable for you.
- In this phase, we will collect and organize all necessary documentation, as well as conduct any additional checks required to submit a visa application.
- Following this, we will start to prepare your application and submit it promptly.
- Meanwhile, if you are applying from within Australia, you will be granted a bridging visa until your current visa expires. This will allow you to work until a decision is made on your Subclass 888 Business Innovation and Investment (Permanent) Visa application.
- Lastly, we will inform you of the result. If your application is successful, you will be granted the rights mentioned below.
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