Business Visa – Innovation Stream
Subclass 888A
(Permanent)
Overview
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As a permanent visa, Businss Visa – Innovation stream (Subclass 888A) is the second and final stage of Business Visa – Innovation stream (Subclass 188A) and lets holders of a particular group of visas (see Eligibility below) to stay permanently in Australia whilst continuing their business activities.
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Simpler than the first stage, this visa involves no points test or Expression of Interest (EOI), but does require state/territory nomination.
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You may include your family in your visa application so your entire family can migrate together.
Process
Step 1 – Apply for state/territory nomination
Step 2 – Submit application for Subclass 888A visa once nomination is approved
Eligibility
Visa: have held Business Visa – Innovation stream (Subclass 188A), Business Visa – Innovation Extension stream or Special Category visa (Subclass 444) for at least 3 years (unless COVID-19 concessions apply – see below)
Obtain nomination from state/territory government
Business Turnover: Your business or businesses had an annual turnover of at least AUD 300,000 in the 12 months immediately before the application
Ownership Interest and Management Role: for the 2 years immediately before you apply, you must have:
- had, and continue to have, an ownership interest in up to two main businesses in Australia
- had a direct and continuous management role in that business or businesses
- submitted Business Activity Statements to the Australian Taxation Office
- an Australian Business Number for each of your main businesses
Business Share: for the 2 years immediately before you apply, you must own at least:
- 51% of the total value of a business with a turnover of less than AUD 400,000 per year, or
- 30% of the total value of a business with a turnover of AUD 400,000 or more per year, or
- 10% of the total value of a business that is operated by a publicly listed company
Assets and Labour: for the 12 months immediately before you apply, you, or together with your partner, must show at least 2 of the following
- assets of AUD 200,000 net value in your main business (or 2 main businesses) in Australia
- personal and business assets in Australia of AUD 600,000 net value
- equivalent of at least 2 full-time eligible employees in your main business who are Australian citizens, Australian permanent residents, or holders of valid New Zealand passports and are not members of your family
Residence: have been physically present in Australia for at least 1 in the past 2 years (unless COVID-19 concessions apply – see below)
Have not had involvement in unacceptable business or investment activities
Meet health and character requirements
Have functional English (or a second instalment of application fee applies)
COVID-19 Concessions
Arrangements are in place for provisional visa holders who may have been disadvantaged as a consequence of the COVID-19 pandemic. ‘COVID-19 concession period’ commenced 1 February 2020 and is ongoing.
Residence Concessions
If you were outside Australia during the ‘COVID-19 concession period’, time spent overseas will count as time being in Australia if you were the holder of one of the following visas during the ‘COVID-19 concession period:
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Business Visa – Innovation Extension stream (Subclass 188)
Visa Expiry Concessions
From 19 September 2020 until 3 months after the end of the ‘COVID-19 concession period’ you can apply for this visa if:
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Your first Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream was granted on or before 30 June 2019; and
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one of the following applies:
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held a Business Visa – Innovation stream (subclass 188A) or Business Visa – Innovation Extension stream (Subclass 188) which expired during the concession period; or
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your visa expired during the concession period and your partner was the primary holder of a Business Visa – Innovation stream (subclass 188A) or Business Visa – Innovation Extension stream (Subclass 188).
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Location
Applicants may be in or outside Australia at the time of application and visa grant.
Duration of Stay
This is a permanent visa that allows you to stay permanently in Australia. However, its travel facility expires after 5 years so you will need to apply for Resident Return Visa (Subclass 155 & 157) or Australian citizenship (if eligible) if you wish to travel overseas and back to Australia after the expiry date.
Benefits
With this visa, you may:
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migrate to Australia together with your family
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stay and live in Australia permanently
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potentially bring your extended family members to Australia permanently on parent visa or visa intended for other relatives
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access various government benefits, including but not limited to:
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pension
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unemployment and job-seeking benefits
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cocession cards for commuting
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benefits associated with new-born baby
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interest-free school loan
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travel overseas and back to Australia without limitations for any purposes (e.g. overseas holiday, visiting family and/or attending family matters in home country)
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access Australia’s public health care scheme (Medicare) which essentially provides free medical consultations, operations and hospitalization for a wide range of medical conditions
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study in Australia without any limitations
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attend free English language course provided by Australian government
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apply for Australian citizenship when eligible
Application Fees
You may include your family in the application so your family can migrate to Australia together.
First Instalment
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Main applicant: $2935
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Each secondary applicant aged 18 or over: $1470
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Each secondary applicant under 18: $730
Second Instalment
For each secondary applicant at least 18 is assessed as not having functional English at the time of application, a second instalment of $4890 applies.
Please note: you may incur third-party charges, for example, for assets valuation, translation, English test, police certificate and health exam.
Processing Time
Kindly note the processing time constantly varies. Please contact us for update.
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75% of applications: 24 months
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90% of applications: 26 months
Please note a client refers to a visa applicant, their family members or a sponsoring employer where applicable.
