888 Permanent Business Innovation and Investment Visa
The subclass 888 is a permanent residency visa flowing from the 188 Business Innovation and Investment Visa. Applicants can be either in Australia or overseas when at the time that they lodge their applications. The visa also has two streams;
- Business Innovation Stream: requires you to have established a business in Australia and should meet particular asset and turnover requirements (at least AUD 200 000 in net assets and AUD 300 000 of asset turnover in the past 2 years).
- The second stream is The Investor Stream: an applicant under this stream must have held an investment in Australia for a minimum of 4 years