Why Apply for Subclass 888 - Business Innovation Visa

• The subclass 888 visa is also known as Business Innovation and Investment Visa
• It is aimed at international individuals involved in business activities, investors, and entrepreneurs.
• They can operate their business in Australia through this visa.
• It permits the candidate to live in Australia for an indefinite amount of time.
• The candidate can also apply for citizenship in Australia.

The Business Innovation and Investment Visa or Subclass 888 of Australia facilitates business people, investors, and entrepreneurs to continue their business activities in the country. It is aimed at either the candidates in the stream of Business Innovation Extension or holders of subclass 444 visa.

Subclass 888 Visa – How It Helps Australian PR Holders

For the Business Innovation and Investment Subclass 888 visa, the candidates can avail of these facilities:

• Reside in Australia for an indefinite period of time
• Work or study in the country
• Avail of healthcare facilities
• Travel to their native place for the first 5 years and, if the need be, apply for the RRV or Resident Return to re-enter the country
• Apply for the citizenship of Australia visa 888 only if they meet the eligibility requirements
• Sponsor eligible family members who wish to migrate to Australia and reside in the country

Categories of Subclass 888

Subclass 888 visa has five categories. They are:

• Business Innovation stream
• Investor stream
• Significant Investor stream
• Premium investor stream
• Entrepreneur stream

Subclass 888 — Comparison of Streams

Stream	Required Investment / Assets	Turnover	Job Creation	Residency / Physical Presence	Nomination
Business Innovation (888A)	Must show ownership and meet financial tests: business assets, personal+business assets, and/or employee requirements (exact thresholds depend on your 188 cohort).	Evidence of active trading; turnover requirement usually AUD 300,000 in the 12 months before applying. Some states may waive for regional businesses.	At least 2 full-time equivalent employees who are Australian citizens, permanent residents, or eligible New Zealand citizens (not family members).	Must have lived in Australia for at least 1 year in the 2 years before applying.	State or Territory nomination required.
Investor (888B)	Must have continuously maintained the designated complying investment made for the 188B visa (from July 2021, this follows the Complying Investment Framework, minimum AUD 2.5 million).	Not applicable.	Not applicable.	Must have lived in Australia for at least 2 years in the 4 years before applying.	State or Territory nomination required.
Significant Investor (888C)	Must have continuously held a complying significant investment of at least AUD 5 million under the Complying Investment Framework.	Not applicable.	Not applicable.	Must have lived in Australia for at least 40 days per year (primary applicant) or 180 days per year (spouse) for each year the 188C was held. Days can be counted cumulatively.	State, Territory or Austrade nomination required.
Premium Investor (888D)	Must have continuously held at least AUD 15 million in premium investments. (Legacy stream, closed to new applicants).	Not applicable.	Not applicable.	Residency requirements apply per stream settings.	Austrade invitation only.
Entrepreneur (888E)	Must demonstrate overall successful entrepreneurial activity in Australia after holding 188E.	Not applicable.	Not applicable.	Residency requirements as specified for 888E.	State or Territory nomination required.

Victoria State Nomination Requirements for Subclass 888 (Business & Investment)

If you live in Melbourne or elsewhere in Victoria, you must obtain a state nomination before applying for the Subclass 888 visa. Victoria assesses your business or investment activity to ensure it benefits the state economy.

Key Criteria

• Business Innovation stream (888A):

  • Must demonstrate that your business in Victoria is actively trading.

  • Provide profit and loss statements and balance sheets for the last two years.

  • Submit recent Business Activity Statements (BAS) and ABN registration.

  • Show evidence of business ownership, turnover, and employment of eligible staff.

• Significant Investor stream (888C):

  • Must confirm that you have maintained the required AUD 5 million complying significant investment for the duration of your Subclass 188 visa.

  • Evidence may include investment portfolio statements and compliance letters from licensed fund managers.

Eligibility Criteria

The candidates are required to have a valid nomination from the territory or state government authorities of Australia. It is mandatory for all the applicants in the abovementioned streams.

Requirements of Subclass 888 Visa

The requirements for a Subclass 888 visa of Australia are listed below.

• Signed Australian value statement declaring that the candidate will respect the country’s law and order.
• Meet the requirements for health and character.
• No existing dues.
• Fulfill the language proficiency requirements for the English language.
• No cancellation or rejection of the visa should have occurred in the past.
• Intention to continue with the business.
• No criminal records.
• Submit the details for nomination.
• Must be a valid visa holder.
• Should meet the requirements for asset and employee.
• Submit the resident requirements.
• Should own and operate the business in Australia.
• Credible record of Entrepreneurial Activities.
• Operate the business for the necessary time span.

Subclass 888 Visa Document Checklist

When applying for the Subclass 888 visa, applicants must provide personal, nomination, and business/investment evidence to show compliance with their Subclass 188 obligations. The exact requirements vary by stream, but the core checklist includes:

General Documents (all streams)

• Current passport and travel documents.

• Subclass 188 visa grant notice.

• State/Territory nomination approval (or Austrade for SIV/PIV).

• Form 1414 (if nomination form required).

• Police clearances for all applicants aged 16+.

• Health assessments if requested.

• Relationship documents for dependants (marriage/birth certificates).

Business Innovation Stream (888A)

• Financial reports: Profit & Loss statements and balance sheets for the most recent 2 years.

• Business Activity Statements (BAS).

• Australian Business Number (ABN) registration.

• Taxation documents (company and personal).

• Ownership evidence: ASIC company extracts, trust deeds, share registers.

• Turnover proof: invoices, audited accounts, or other business records showing at least AUD 300,000 turnover (unless regional waiver applies).

• Employment records: payroll summaries, PAYG withholding, superannuation contributions, contracts for at least 2 full-time equivalent employees.

• Business photographs (premises, products, staff).

Investor Stream (888B)

• Investment statements showing continuous maintenance of complying investments.

• Bank records or fund manager attestations proving the investment was held for the required period.

• Residency evidence: documents proving at least 2 years in Australia within the 4 years prior to application (rates notices, utility bills, lease agreements, etc.).

Significant Investor Stream (888C)

• Portfolio reports from licensed fund managers showing maintenance of the AUD 5 million complying significant investment.

• Audit or compliance letters confirming the investment met the Complying Investment Framework.

• Residency evidence: travel records or statutory declarations showing 40 days/year (or 180 days/year by spouse) spent in Australia during the 188C period.

Entrepreneur Stream (888E)

• Evidence of entrepreneurial activity such as contracts, IP registrations, patents, partnerships, or financial records.

• Proof of commercialisation or positive impact in Australia (revenue, job creation, or innovation outcomes).

Step-by-Step Guide to the Subclass 888 Visa

Step 1: Obtain or renew State/Territory (or Austrade) nomination

Step 2: Hold a Subclass 188 provisional visa in the relevant stream

Step 3: Meet compliance and stream-specific obligations

Step 4: Lodge Subclass 888 application through ImmiAccount

Step 5: Visa assessment and grant of permanent residency

Subclass 888 Visa Processing Times

Processing times for the Subclass 888 visa are not consistently published by the Department of Home Affairs (DHA), as volumes are low and the program has been impacted by the closure of new Subclass 188 applications. However, real-world experiences from applicants provide a clearer picture. On average, Business Innovation and Investor streams take around 2–3 years, while the Significant Investor stream often experiences longer waits of 36–40 months. Applicants should expect delays and ensure all documents are complete to avoid further hold-ups.

Stream	Average Processing Time
Business Innovation (888A)	18–30 months (reported by applicants)
Investor (888B)	Around 2+ years (reported)
Significant Investor (888C)	36–40 months (commonly reported)
Entrepreneur (888E)	Limited data; very few cases
Premium Investor (888D)	Legacy stream only; minimal cases

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