Types of Streams under the Subclass 888 Business Investment Visa

 Australia is a popular destination for foreign investors to start a business. The country's powerful economy, proficient workforce, a wide range of investment opportunities, and government-backed investment incentives entice international investors to start new ventures there or expand their current ones. Every successful overseas investor in Australia has a dream to acquire a Subclass888 Visa. It is a Business Innovation and Investment (Permanent) visa program associated with a Business Innovation and Investment (Temporary) visa. 

In other words, if you have a provisional Subclass 188 (Business Innovation and Investment) visa, you can become eligible for a permanent Subclass 888 (Business Innovation and Investment) visa. 

Subclass 888 Visa to Australia falls into several streams. They are different from one another in requirements. Furthermore, the processing times may vary for each stream. Therefore, it is essential to understand the requirements of each stream to choose a suitable one.

 

 Types of Streams and their Requirements of the Subclass 888 Visa

Business Innovation Stream (Subclass 888A)

This stream is for individuals holding a Subclass 188 Business Innovation and Investment (Provisional) visa in the Business Innovation stream or the Business Innovation Extension stream, or Subclass 444 Visa, or Subclass 457 (Business) Visa.

 The visa processing times may vary. In a few cases, the visa approves within 27 months. However, it takes up to 34 months to approve for most cases. It requires you to meet the criteria for a successful business career in Australia. It is one of the most popular streams. 

Eligibility 

 

• It requires you to show your ongoing business involvement in Australia. 
• You must have a nomination from a state or territory government agency. The nomination takes place at the time of applying for a Business Innovation and Investment (Provisional) visa through an Expression of Interest (EOI). 
• You own and manage a business in Australia for 2 years or 24 months and meet specific requirements such as 51% of the ownership with a turnover of less than AUD400,000 per year. 
• Your primary business turnover must be at least AUD300,000 in the last 12 months. 
• You are meeting the assets and employees requirements, including assets of AUD200,000 net value, personal and business assets of AUD600,000 net value, and at least two full-time eligible employees.

 Investor Stream (Subclass 888B)

This stream is for individuals holding a Subclass 188 Investor (Provisional) visa. The processing time is not certain. However, it demands a specific investment for a period. 

 Eligibility 

 

• It is necessary to comply with a significant investment that is AUD2.5 million of investment if you apply for this stream on or after 1 July 2021. 
• If you apply before 1 July 2021, meet the investment of AUD 1.5 million in an Australian state or territory. It is a designated investment.
• You spent 2-3 years immediately before you applied if you were invited to apply for a subclass 188 Visa in the Investor stream on or after 1 July 2021.
• You spent 2-4 years immediately before you applied if you were invited to apply for a Subclass 188 Visa in the Investor stream before 1 July 2021. 

Significant Investor Stream (Subclass 888C)

This stream is for individuals holding a Subclass 188 Significant Investor (Provisional) visa. The processing times may vary. It can approve within 33 months or can stretch up to 37 months.

Eligibility

·        You have a current nomination from a state, territory or Austrade. You have provided an Expression of Interest when applying for a 188 Provisional Business visa.

·        After approval of your provisional Business Visa, you invested AUD5 million to meet a complying investment or complying significant investment.

·        You are meeting the residential requirements. For example, you have lived for 4 years continuously on a Subclass 188 visa in the Significant Investor stream.

Premium Investor Stream (Subclass 888D)

This stream is for individuals holding a Subclass 188 Premium Investor (Provisional) visa. The processing time is not available.

Eligibility

·         You have a current nomination from Austrade.

·         You invested AUD15 million while holding a Subclass 188 Premium Investor visa.

Entrepreneur Stream (Subclass 888E)

This stream is for individuals holding a Subclass 188 Entrepreneur (Provisional) visa for 4 years. The processing time is not available. 

 Eligibility 

 

• It requires a current nomination from a state or territory government agency. 
• The Department assesses your entrepreneurial activities by showing two key success factors or one key success factor with three supporting factors. 
  

 Common Eligibility Criteria include:

• You are not involved in unacceptable business or investment activities. 
• You have a realistic commitment to continue your business and investment activities in Australia. 
• You have functional English language skills.  
• You have met commonwealth laws and the laws of the states or territories. 
• You have signed the Australian values statement. 
• You have no debt to the Australian government. 
• You have not visa cancelation history. 

If you want to learn more about this visa, you can contact a Mara-registered immigration agency.