Want to work and live in Australia permanently as a resident? You require a business innovation and & investment visa (subclass 188). The visa allows individuals to own and administrate a new or existing business in Australia and live permanently as a resident in the country. A person after getting this visa can continue his business or other investment activity in Australia and get citizenship of Australia.
What is a Permanent Visa (Subclass 888)?
This visa is a second stage application for permanent citizenship or residency for holders of Business innovation & investment (provisional) visa (subclass 188).
The Subclass 888 Visa Has Five Eligibility Streams
1. Business Innovation Stream
2. Investor Stream
3. Significant Investor Stream
4. Entrepreneur Stream
5. Premium Investor Stream
1. Business Innovation Stream-
This visa allows people stay permanently who have held a Business Innovation and Investment visa (subclass 188) in the Business Innovation stream.
Eligibility- A person should hold a subclass 444 visa or subclass 457 visa and able to show ongoing business involvement.
2. Investor Stream-
With this visa, you can continue your investment activities and stay in Australia permanently.
Eligibility- Person should have a subclass 188 in the investor stream and a designated investment of AUD1.5 million for 4 years.
3. Significant Investor Stream-
This visa lets you continue your investment activities in Australia permanently.
Eligibility- Must have held a complying investment for 4 years of AUD 5 million
4. Entrepreneur Stream-
These visa holders stay permanently who have a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur Stream.
Eligibility- Should be entrepreneur stream for 4 years and residing in Australia for at least 2 years.
5. Premium Investor Stream-
With this visa, you can conduct investment activity in Australia permanently.
Eligibility- A complying investment of AUD15 million.
All Business Innovation and Investment visa costs AUD 2,590 for the main applicant and there are no standard processing times available for all streams. (Reference)