Subclass 888 is the permanent visa stage after having held and met the requirements of the Subclass 188 visa. Generally, you are required to have held the visa for at least four (4) years before being eligible. After 01 July 2021, this will be changed to 3 years. You will need to meet certain business/investment requirements and residency requirements before being eligible for the subclass 888 visa.
Business Innovation Stream (Subclass 888 A)
The main requirements of this visa are:
- Continue to be nominated by state or territory government
- Held the Subclass 188A visa and was in Australia for at least 1 year in the past 2 years
- Maintained ownership interest in at least 1 actively operating main business (with an ABN) during the 2 years and continues to have ownership interest
- The business must have an annual business turnover of over AUD 300,000 in the 12 months before application is made
- Either have (2 of the following 3 must be met):
- Net asset value of the main business at least AUD 200,000 for the 12 months before the application is made and continue to do so;
- Employed at least 2 full time employees who are not family members and are an Australian citizen or permanent resident in the 12 months before the application is made;
- Net value of business and personal assets at least AUD 600,000 for the 12 months before the application is made and continue to do so
- Have a realistic commitment to continuing business activities
Investor Stream (Subclass 888 B)
The main requirements of this visa are:
- Continue to be nominated by state or territory government
- Held the Subclass 188B visa and was in Australia for at least 2 years in the past 4 years
- Held the designated investment for a continuous 4 years (if 188 visa granted after 01 July 2015) or 3 years and 11 months (if 188 visa granted before 01 July 2015)
- Not involved in unacceptable business or investment activities
- Have a realistic commitment to continuing business or investment activities
Significant Investor Stream (Subclass 888 C)
The main requirements of this visa are:
- Be nominated by a State or Territory government
- Held the Subclass 188C visa for a continuous period of 4 years
- Held complying significant investment for the whole period during which the Subclass 188 visa was held
- Have been in Australia for:
- at least 40 days x the number of complete years held of the 188C visa (and any 188C extension visa granted treating a part of a year as 1 year); or
- spouse or de facto partner has been in Australia for at least 180 days x the number of complete years held of the 188C visa (and any 188C extension visa granted treating a part of a year as 1 year).
- Not have a history of involvement in unacceptable activities
- Have a realistic commitment to continuing business or investment activities
Entrepreneur Stream
The main requirements of this visa are:
- Be nominated by a State or Territory government
- Held the Subclass 188E visa for a continuous period of 4 years
- Resided in Australia for at least 2 years of the 4 years
- Demonstrate overall successful record of undertaking entrepreneurial activity in Australia whilst holding the Subclass 188E visa
- Have a realistic commitment to continuing business or investment activities
In determining success of the entrepreneurial activities, the following factors are taken into consideration:
- Number of Australian citizens or permanent residents are employed in relation to the activities
- The level and nature of ongoing funding or investment in those activities
- The annual turnover of the businesses in those activities
As a matter of policy, the Department has set key success factors and supporting success factors which are assessed.
You may enquire with us for more information.
