To apply for Business Innovation and Investor ( Permanent ) – 888 visa , applicant must meet the following:

– Must be holder of Business Innovation and Investor visa (subclass 188) and must be in Australia at the time of application for 888 visa.

– If you were invited to apply for 188 visa after 1st July 2021, you need to be holder of 188 visa for 3 years.

– Must receive nomination approval from a state or territory government agency

– For the 24 months ( or 36 months if you were invited to apply for 188 visa after 1st July 2021) immediately before you apply, you must own at least:

• 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

– Your main business or businesses (or the business or businesses of your spouse or de facto partner, or of you and your spouse or de facto partner together), had an annual turnover of at least AUD300,000 in the 12 months immediately before the application was made.

– For the 12 months immediately before you apply, you or your partner (or you and your partner together) must show at least 2 of the following:

• assets of AUD200,000 net value in your main business (or 2 main businesses) in Australia
• personal and business assets in Australia of AUD600,000 net value
• equivalent of at least 2 full-time eligible employees in your main business

– If you want to meet the employee rule, your employees must work in your main business (or main businesses) and:

• be Australian citizens, Australian permanent residents, or holders of valid New Zealand passports
• not be members of your family

In Plan Migration, we can help you to achieve your goals through business visa. Our experts will help you to choose the right business that meets the requirements and will be with you in each step of your journey.