The Australian Business, Innovation and Investment Visa (Subclass 888) allows business owners, entrepreneurs and investors to continue their activities in Australia.
You must be a holder of a Business Innovation and Extension Stream or Subclass 444 visa. Subclass 457 (Business Long Stay) visa holders or Business Innovation and Investment (Provisional) visa holders in the Business Innovation Stream (Subclass 188) can also stay in the country indefinitely.ISA Migrations & Education Consultants has the best team of Australian migration agents who can help you understand the eligibility of the visa according to the candidate’s requirements.
The 888 visa is available in five categories: business innovation stream, investor stream, substantial investor stream, premium investor stream and entrepreneur stream. Business Innovation Stream, Investor Stream, Substantial Investor Stream, Premium Investor Stream and Entrepreneur Stream. The Subclass 888 visa allows you to reside permanently in the country and requires that you conduct ongoing business assessments in the country.
It allows you to live in the country and work or study under the Australian government. It also allows you to travel to your home country for the first five years after the 888 visa is issued. If you wish to visit your home country after this period, you can apply for a Resident Return Visa (RRV) to re-enter the country.
Who Can Apply For Business Visa Subclass 888 Australia?
You must have a current, non-withdrawn letter of recommendation from a state or territorial government agency in that country. This applies to all applicants applying in the Business Innovation, Significant Investor, Investor, Premium Investor and Entrepreneur categories.
Business Innovation Stream
- Applicants must hold a Special Category Visa, a Business Innovation and Extension Stream Visa, a Business Innovation and Investment (Provisional) Visa, or in certain cases, a Subclass 457 Visa.
- To apply for an 888 visa, you must meet the following business-related requirements.
For an investor visa
- You must be a holder of a Business Innovation and Investment (Provisional) visa for investors.
- To apply for a Subclass 888 visa, you must meet the investment requirements of the Provisional visa.
For significant investor flows.
- You must be a holder of the Business Innovation and Investment (Provisional) (Subclass 188) visa’s Significant Investor Extension Stream or Significant Investor Stream, or have made an investment during the period you are a Subclass 188 visa holder.
For the Premium Investor Stream.
- You must be a Business Innovation and Investment (Provisional) (Subclass 188) visa holder in the Premium Investor Stream.
- You must meet the conditions for a provisional visa.
For the Entrepreneurial Stream
- You must be a Business Innovation and Investment (Provisional) (Subclass 188) visa holder in the Entrepreneurial Stream and have held the visa for at least four consecutive years.
- The applicant must have successfully conducted various entrepreneurial activities in the country while holding a provisional visa.
What Business Subclass Visa 888 Lets You Do In Australia?
The 888 Business Innovation and Investment Visa allows you to stay in the country indefinitely. It also allows you to work and study in the country.
The 888 visa subclass also allows you to enroll in various medical facilities. For the first five years, you can travel to your home country on an 888 visa. Then, if you still want to continue traveling, you must apply for a Resident Return (RRV) to re-enter.
You can also sponsor a loved one to come and live in this country. It is possible to apply for citizenship of the country with 888 visa if you meet the eligibility criteria.
What Are The Requirements For Business Subclass 888 Visa Australia?
To qualify for a Business Innovation visa, you must meet the 888 visa requirements. If you do not meet the requirements, you will not be eligible for a subclass 888 visa.The requirements are as follows:
- You must sign a Declaration of Australian Values stating that you will respect Australian law and order.
- You must meet the health and character requirements.
- Have no unpaid membership fees registered in your name.
- Know the requirements for functional English or pay an additional fee if you do not.
- Have not had a visa refused or cancelled in the past.
- comply with Australian law; and
- Be committed to staying in business.
- Not be involved in illegal activities.
- Applicants must provide information about their credentials.
- Must hold an appropriate visa.
- Must meet asset and employee requirements.
- Applicant must meet residency requirements.
- Must own and operate a business in the country.
- Must have a track record of entrepreneurial activity.
- Must be able to continue the business for a specified period of time.
Australia Permanent Business Visa 888 Application Process
To apply for a business visa 888, you must submit an electronic online application with the required documents (postal applications are not accepted). You will also need to pay the application fee in the payment section of your ImmiAccount. Please note that the documents you submit must be in English.
Permanent Business Innovation and Investment Visa 888 Processing Times
Permanent Business Innovation and Investment Visa 888 is processed in one year to a maximum of two years. However, the review period for premium investor and entrepreneur visas is not published.
A complete application takes significantly less time to process than an incomplete application.
How Much Does an Australia Business Visa 888 Cost?
The application fee for a Business Visa 888 is AUD2,590. This is only the basic application fee; additional fees may apply for dependents. There is also an installment fee of AUD4,890 for the 888 visa.
This installment fee must be paid for family members who did not pay when applying for a temporary business visa 188 or who cannot demonstrate functional English proficiency.
Can I Travel With an Australia Business Visa 888?
Yes, you can travel on a Business Innovation and Investment Visa 888. However, the permanent business visa has a five-year travel period and at the end of the five years you will need to apply for a Resident Return Visa in order to travel freely.
You can apply for as many RRVs as you need, but you can also apply for Australian citizenship and have an Australian passport; you can check your visa expiration date on VEVO (Visa Entitlement Verification Online).
Business Innovation and Investment Visa 888 Denial
If your application for a Business 888 visa has been denied, you can appeal the denial decision. The Foreign and Commonwealth Office will notify you in your denial notice whether or not you can appeal.
Do I Get a Refund of the Visa Fee if My Application for a Business Visa 888 Is Rejected?
No, there is no refund of the visa fee if your application is denied. However, the fee for the second and subsequent tranches can be refunded.
Business Visa 888 and Covid-19
From September 19, 2020 until three months after the end of the Covid concession period in Australia, you can apply for a Business 888 visa even if your temporary or extended 188 visa expires during the concession period.