Business Innovation and Investment (Permanent) visa (subclass 888)
Business Innovation stream
This visa allows you to stay in Australia permanently
From you subclass 188A visa, you may convert to this permanent subclass 888A visa if:
- For the 2 years immediately before you apply, you have:
- had, and continue to have, an ownership interest eligible business(es) in Australia
- had a direct and continuous management role in that business(es)
- ownership interest in that business(es) of at least:
- 51% of the total value of a business with a turnover of less than AUD$400,000 per year, or
- 30% of the total value of a business with a turnover of AUD$400,000 or more per year, or
- 10% of the total value of a business that is operated by a publicly listed company.
- For the 12 months immediately before you apply:
- Your business(es) had an annual turnover of at least AUD$300,000
- You and/or your partner must show at least 2 of the following:
- assets of AUD$200,000 net value in your main business(es) in Australia;
- personal and business assets in Australia of AUD$600,000 net value; and
- equivalent of at least 2 full-time eligible employees (citizen or permanent resident of Australia, or New Zealander) in your main business(es).
- You satisfied the residence requirement of being in Australia for 1 year out of the last 2 years.
- Level 3, 12 St Georges Terrace, Perth, Western Australia, 6000
- [email protected]
- +618 9328 7525