Australia•OceaniaBusiness Innovation and Investment (Permanent) visa (subclass 888)
At a Glance
Processing Time
~700 days
Application Fee
4,375 AUD
Stay Duration
Indefinite
Renewable
No
Job Offer
Not Required
Dependents
Allowed
PR Pathway
Available
This visa can lead to permanent residency — the right to live and work here indefinitely without renewing your visa.Remote Work
Not Required
Overview
Permanent visa for entrepreneurs and investors who have successfully operated a business or maintained significant investment in Australia. Requires transition from provisional (188) visa.
The Business Innovation and Investment (Permanent) visa (subclass 888) is the permanent residency visa for successful business operators and investors. It's a natural progression from the provisional 188 visa for those who have demonstrated sustained business or investment success.
Annual Visa Allocation
1,000 visas per year
The planning level for the Business Innovation and Investment Program (BIIP) is set annually in the Australian Federal Budget; the 2024-25 allocation is 1,000 places for the entire program including subclass 888.
No lottery system
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Requirements
Financial
Minimum Income
300,000 AUD
per year
Minimum Savings
600,000 AUD
Investment Required
200,000 AUD
Personal
Criminal Record Policy
Clean record required
Education
none or higher
Professional
Experience
Must have held a subclass 188 visa and met specific business or investment activity requirements for at least 2 to 4 years depending on the stream.+ years
Required Skills
Language
English
Basic
Documentation
Applicant Documents
Valid passport
With sufficient validity
Business performance evidence
Tax returns, financial statements, business records for 2+ years
Investment documentation
Evidence of maintained investment
Business or investment activity proof
Bank statements, contracts, employee records
Track your documents or upload them for AI-powered review
Advantages
- Permanent residency achieved
- Pathway to Australian citizenship
- Can expand business freely
- Family included as permanent residents
Considerations
- Requires 2+ years business operation
- Strict eligibility criteria
- Significant ongoing requirements
- High application costs
Application Process
Meet provisional requirements
Have held subclass 188 visa for minimum 2 years
Demonstrate business success
Show successful business or investment activity
Prepare transition application
Gather evidence of 2-year business performance
Lodge permanent visa application
Submit complete application
Pay visa fee
Pay AUD 4,375 application fee
Await decision
Monitor application status
Application Forms
Business Innovation and Investment permanent visa application
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