888 — Business Innovation and Investment (Permanent) Visa

Australia•Oceania

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888 — Business Innovation and Investment (Permanent) Visa

Work PR PathwayThis visa can lead to permanent residency, the right to live and work here indefinitely without renewing your visa.

Program status notice

The subclass 188 (provisional) feeder program was permanently closed to new applications from 31 July 2024. Subclass 888 itself remains open to existing eligible subclass 188 holders; no new entrants can join the pathway.

At a Glance

Processing Time

Varies

Estimated Cost

AUD $4,375

Stay Duration

Permanently

Not renewable

Renewal

Not renewable

Family

Not specified

PR Pathway

Yes

Sponsor

No job offer needed

Work

Remote not required

Apply Now Official Information

Living in Australia

Cost of Living

2% more than United States

Avg SalaryA$73,000

Quality of Life

187/200

Full Country Guide

Overview

Business Innovation and Investment (Permanent) Visa.

The Business Innovation and Investment (Permanent) visa (subclass 888) grants permanent residency to subclass 188 holders who met their stream-specific business or investment obligations in Australia. It covers five streams: Business Innovation, Investor, Significant Investor, Entrepreneur, and Premium Investor.

Holders gain the right to live, work, and study in Australia permanently, access Medicare, sponsor relatives, and apply for citizenship. qualification is based on proven commercial performance during the provisional period — no job offer required. State or territory nomination is mandatory.

This visa is ideal for subclass 188 holders who have fulfilled their business or investment commitments in Australia and want to convert to permanent residency.

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Explore Guide

Annual Cap & Quota

1000

Requirements

PUBLISHED REQUIREMENTS

Must hold a qualifying provisional visa (e.g., subclass 188).

Must be nominated by a state or territory government agency.

Must have met all requirements of the provisional visa stream (Business Innovation, Investor, Significant Investor, Entrepreneur, or Premium Investor).

Must demonstrate a successful track record in business or investment in Australia.

Must meet health and character requirements.

Must have complied with all Australian laws, including taxation, superannuation, and workplace relations.

Must have resided in Australia for the required period (varies by stream).

Must demonstrate ongoing commitment to business or investment activities in Australia.

REQUIRED DOCUMENTS

Nomination confirmation from a state or territory government.

Form 1414 (Nomination - Business Skills).

Form 1139A (Statement of Assets and Liabilities Position).

Evidence of business ownership (e.g., company extracts, share registers, partnership agreements).

Financial statements and tax records demonstrating business viability.

Evidence of management involvement (e.g., decision-making records, payroll, strategic planning).

Evidence of residency (e.g., movement records, utility bills, bank statements).

Written declaration of compliance with Australian laws.

Passport and identity documents for all applicants.

Advantages & Considerations

Key Benefits

Live, work, and study in Australia permanently
Enroll in Australia's public healthcare scheme, Medicare
Sponsor qualifying relatives for permanent residence
Apply for Australian citizenship, if qualifying
Travel to and from Australia for five years

Worth Knowing

This is a permanent visa with specific, rigorous stream-based qualification criteria
The Australian government has closed the Business Innovation and Investment Program (subclass 188) to new applications, though subclass 888 applications remain active for existing qualifying provisional visa holders
The process requires maintaining business or investment activity in Australia during the provisional visa period

Application Process

Check your qualification and choose the correct stream

Gather your documents

Prepare your application

Apply for the visa online via ImmiAccount

Pay the visa application charge

Provide requested information, including biometrics or medical checks if required

Wait for the outcome

Application Forms

Go to application portal

Form 1414 Nomination - Business Skills class	Fill online
Form 1139A Statement of Assets and Liabilities Position	—
Form 888Optional Business Innovation and Investment (Permanent) visa application (where required by stream)	Fill online