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

Features

This visa permits you to:

  • --To maintain and own a Business in Australia (the Business Innovation Stream)
  • --To prolong Business and Investment activity in Australia (the Investor stream and the significant investor stream)

Requirements

You might be able to get this visa if you are nominated by a state or territory; and

  • --If are hold of a provisional Business Investment Visa (Subclass 188) and have gathered the requirements of that visa in the stream of which you firstly applied, or
  • --Has a hold of a special category Visa (Subclass 444) or a Business (Long stay) visa ( sublass 457IE) and have gathered the requirements of the business innovation stream.

About this visa

This visa (Subclass 888) is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188). You can only apply for this after you have fulfilled the requirements of your provisional visa.

You don’t have to submit your expression of interest or be invited to apply for this visa you just need to be designated by a state or territory government agency if you are looking to convince the primary criteria.

If you are the possessor of a provisional Business Innovation and Investment visa (subclass 188) and the state or territory which designated you for that visa has not withdrawn the nomination, you have a present nomination by that state or territory.

If you are a hold of a special category visa ( subclass 444) or require nomination from a diverse state or territory than your provisional business innovation and investment visa (subclass 188) you are obligatory to get a nomination from a state or territory before you lodge an application from this visa.

What this visa lets you do

This visa (subclass 888) allows you to manage your business and Investment in Australia.

This is a permanent residence visa. It lets you and family members who also have been granted this visa to:

  • --Reside in Australia indefinitely
  • --Work and live in Australia
  • --Enroll in Medicare, Australia’s scheme for health-related care and expenses
  • --Apply for Australian Citizenship (if you are eligible)
  • --Also you can sponsor entitled relations for PR
  • --Travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia)

Your passport

You and your family members passport should be valid and also other travel documents for this visa. If you are applying for a new passport then you should apply for it before applying for the visa.

Who can apply for this visa

You might be able to pertain for this visa if:

  • --you are the main visa holder of a provisional Business Innovation and Investment visa (subclass 188) and have convened all the requirements of your provisional Business Innovation and Investment visa in the stream in which you first applied; or
  • --If you are a hold of a Special Category visa (subclass 444) or a Business (Long stay) visa (subclass 457IE) and if you have met the requirements of the business innovation stream; and
  • --If you and your partner have not been involved in any improper business or investment activities
  • --If you and your partner have a satisfactory record of obeying the Commonwealth laws, and of each State or Territory in which you function a business and employ employees in the business, relating to your business.
  • --If you have been designated by an Australian state or territory
  • --If you and all your family members meet health and character requirements – you do not need to confirm this again if you have already completed this for the provisional Business Innovation and Investment visa (subclass 188)
  • --you should have a reasonable commitment to maintain business or investment activities in Australia

Other requirements depend on the stream in which you held your provisional Business Innovation and Investment visa (subclass 188).

Health requirements

You must convene certain health requirements. The health assessments you will depend on your individual circumstances, including your country of citizenship, time spent in another country throughout the last five years and your intended activities in Australia. The results of your health examinations are generally valid for 12 months.

This applies to you and any dependent family members integrated in your application.

You are capable to organize your health examinations upfront before lodging a visa application.

Character requirements

You need certain character requirements. You must offer a police certificate from each country you have lived for the past 12 months or more during the past 10 years after you turned 16 years of age. This also relates to all dependent family members in the submission who are 16 years of age or older.

Debts to the Australian Government

You must not have any outstanding debts to the Australian Government or have arranged to refund any outstanding debts to the Australian Government before this visa can be granted.

Provide biometrics

You will be asked to offer biometrics (a scientific form of identification) as part of the application. Countries and visa subclasses included in the biometrics plan has additional information.

Business Innovation stream

If you are applying for the Business Innovation stream, you must at least reside in Australia and detained for at least one year in the two years right away before you apply for one of the below necessities:

  • --For a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream
  • --For a Special Category visa (subclass 444)
  • --For a Business (Long Stay) visa (subclass 457IE)

In count, you must be able to show ongoing businesss interest, meet certain financial requirements, and have a history of employing Australian workers.

Ongoing business involvement

You ought to be able to prove that you (or you and your partner together) have:

  • --That you and your partner had an ownership interest (and is continuing to have that ownership interest) and a direct and continuous management role in an actively operating main business (or main businesses) in Australia for the two years immediately before you apply.
  • --Had an annual turnover of at least AUD300 000 from the main business (or businesses) in the 12 months before you apply. (A nominating state or territory might agree to waive the obligation to show an annual turnover of AUD300 000 if you live and operate business in a specified regional area of Australia)
  • --Owned at least one of the following proportions of the main business (or main businesses) in Australia in the year immediately before you apply:
  • --51 per cent of a business with a turnover of less than AUD400 000 per year
  • 30 per cent of a business with a turnover of AUD400 000 or more per year
  • 10 per cent of a publicly listed company
  • --Get hold of an Australian Business Number for each of your main businesses
  • --Submitted Business Activity Statements to the Australian Taxation Office for the two years immediately before you apply
  • --Not acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890,891, 892 or 893), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa

You (or your partner, or you and your partner together) must also show that you have attained at least two of the following necessities:

  • --A net value of business assets of at least AUD200 000 in your nominated main business (or two main businesses) in Australia throughout the year immediately before you apply
  • --A net value of personal and business assets of at least AUD600 000 in Australia throughout the year immediately before you apply
  • --employed at least the equal of two full-time employees in your main business (or main businesses), throughout the year immediately before you apply who are:
  • --Australian citizens, Australian permanent residents, or holders of valid New Zealand passports
  • --Not your family members

Investor stream

If you are applying for the investor stream, you must have been in Australia and held your provisional visa for at least 2 of the 4 years as you apply.

In count you and your partner together must have held a nominated investment with an Australian state or territory for at least four years.

Significant Investor stream

You can include the below mentioned people in your visa application:

  • --Your spouse (married or de facto)
  • --Yours or your partner’s dependent children
  • --Other dependent relations

The family members must convene the necessities required to include them in your visa application. The application must comprise documentary evidence of their relationship to you. Your family also must be able to show their health and character requirements. You can also put in your partner and dependent children to your application at any time until your visa is decided.

How to apply

This information explains what you need to do to apply for a Skilled-Regional (Provisional) visa (subclass 489).

Prepare your documents

You need to offer documents to prove the claims you make in the application. The documents are scheduled in the Document checklist.

Some documents could take some time to acquire. You should have them ready when you lodge the application to diminish any delays in processing.

Lodge your application online

You can apply for this visa as follows:

  • --For the Invited Pathway
  • --For the Extended Stay Pathway - Apply for a Skilled Regional (Provisional) Renewal (subclass 489) visa
  • --For family members of someone who already holds this visa or a visa in subclass 475, 487, 495 or 496 -apply using Application for Provisional Skilled Regional - Subsequent Entrant Visa (489)
    • Wait for a decision

      The visa processing time differentiate from each visa to visa. Your application could take longer if you have to provide character or health checks (X-Rays), if you need to offer more information or if your application is incomplete.

      Priority processing preparations also apply. These arrangements decide the order in which we believe applications regardless of when the applications were lodged.

      Outside Australia:

      If you apply for this visa from outside Australia do not make arrangements before you are advised in writing that you have been granted a visa. Wait for a decision from us before you leave your job, sell your home or book your travel.

      In Australia:

      If you apply for this visa in Australia, you could be eligible for a Bridging visa that allows you to stay in the country lawfully while your application is processed. If you are given a Bridging visa A, you can apply for a Bridging visa B (BVB) to travel outside Australia while you wait for a decision.

      Visa decision

      If the visa is granted, you will be told,

      • --When you can utilize the visa
      • --The visa grant number
      • --Any conditions attached to the visa

      How long your visa lasts

      Invited Pathway

      Your visa is legal for four years from the date of grant.

      Extended Stay Pathway

      Your visa is legal for 4 years from the date you were granted the provisional visa in subclass 475, 487, 495 or 496.

      If you applied for this visa as the family member of a possessor of this visa (subclass 489) or a provisional visa in subclass 475, 487, 495 or 496, your visa is valid for the same period as the visa of that person.

      What this visa lets you do

      The Business Innovation and Investment (Permanent) visa (subclass 888) lets you to manage your business and investments in Australia.

      This is a permanent residence visa. It allows you and any family members who have also been granted this visa to:

      • --Reside in Australia
      • --To study and work in Australia
      • --enroll in Medicare, Australia's format for health-related care and expenses
      • --Apply for Australian citizenship (if you are eligible)
      • --Sponsor eligible relations for permanent residence
      • --Travel to and from Australia for five years from the time the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia)

      Your obligations

      You and your family must fulfill all visa conditions and Australian Laws.

      If you are out of Australia at the visa this visa was granted to you,

      • --You must enter Australia by a specified time (we will tell you when this is)
      • --Any family members included in your application might not be able to marry or enter into a de facto relationship before they enter Australia (we will tell you if this is the case).