Business Innovation & Investment (Permanent)
The Business Innovation & Investment (Permanent) – Subclass 888 visa is for holders of the “Business Innovation & Investment (Provisional) visa of any of the following streams :
- Business Innovation Stream
- Investor Stream
- Significant Investor Stream
- Premium Investor Stream
- Entrepreneur Stream
This is a permanent residence visa which allows you to live & work in Australia indefinitely.
Each stream requires different criteria to be met to be eligible to apply for permanent residence.
Some common criteria that must be met by applicants for this visa are :
- All applicants must have held their “Business Innovation & Investment (Provisional) visa for the period specified under each stream.
- All applicants must continue to be nominated by their State/Territory or Austrade (depending on the stream you are applying under).
- In addition to having to meet DHA criteria, you must also meet all criteria of your nominating State/Territory.
- You must meet all Business and/or investment criteria, with regard to your business or investments in Australia to be eligible for this visa.
- You must satisfy the “Residence” requirement applicable to your relevant stream.
- Family members must apply with the primary applicant. They cannot apply subsequently for this visa.
- You & your partner must have not been involved in any business or investment activities that are unacceptable in Australia.
- You must have a realistic commitment to continue your business & investment activities in Australia.
- You & your family members must meet the “Health” requirement.
- You & your family members must meet the “Character” requirement.
- All family members, over the age of 18 years, must prove that they have “Functional” English language ability or pay the second VAC.
You can apply for Australian Citizenship after holding this visa for 5 years.
There are a range of stream-specific criteria that need to be satisfied. Criteria for the Business Innovation & Business Talent visas can be cumbersome & difficult to understand. It is critical that you seek guidance of people who can guide you through the myriad requirements associated with these visas. Contact Us so that we may make your process of migrating via the business migration route less cumbersome & profitable in the long-term.
