Business innovation and investment (permanent) visa Subclass 888

A permanent visa for applicants of holders of subclass visas:

188; 444. Certain holders of 457

Subclass 888 entitles visa holder to continue business activity engaged in subclass 188 and stay and work and study permanently in Australia

Eligibility

1. Nominated by an Australian state or territory agency
2. Own and manage a business in Australia immediately for 2 years before you apply for visa
3. Have ownership share in up to 2 main businesses in Australia
4. Direct management role in business
5. Submitted business activity statement to ATO
6. Have an ABN Number for each business
7. For 24 months before you apply must have a certain percentage ownership share in value of business with various turnovers of various amounts
8. Possess a certain amount of business and personal assets and employ 2 full time employees who are Australian citizens or permanent residents or new Zealanders and they must not be your family members
9. Comply with commonwealth and state laws
10. Possess functional English
11. Meet residency requirements
12. Not engage in unacceptable business or investment practices
13. Meet health requirements
14. Meet character requirements
15. Have no debt with the Australian government