Business Innovation & Investment (Permanent) Visa
Business Innovation & Investment (Permanent) Visa
Visa Cost
About AUD 3,025 (2025-26, estimated; subject to the Department)
Open only to existing 188 visa holders; the 188 provisional class is closed
Processing Time
Permanent stage, limited to existing 188 holders
Eligibility
- Hold a 188 visa
- Meet the permanent residence requirement for the relevant stream
- Operate a business or maintain an investment in Australia for the prescribed period
- Meet the residence requirement
Key Information
Validity / Stay / Residence
Permanent residence; the first grant includes a 5-year travel facility period, after which a Resident Return visa (RRV) is required.
Eligible Dependants
You can bring the spouse/de facto partner and dependent children to obtain permanent residence together; a 188 secondary holder can become the primary applicant at the 888 stage (role swapping).
PR / Permanent Residence Pathway
This visa is permanent residence (PR); it is the permanent second stage of the 188 Business Innovation and Investment (provisional) visa. You must first hold an eligible 188 visa and meet the holding period, business/investment and residence requirements before applying; permanent residence is obtained on grant, with citizenship possible later.
View provisional-to-permanent transition overview →Application Steps
Check Eligibility
Check Eligibility
Confirm you meet the 888 visa's permanent residence requirements
- Have held a 188 visa for the prescribed period
- Meet the business or investment requirement for the relevant stream
- Meet the residence requirement
State Nomination
State Nomination
Obtain continued state government nomination
- Apply to the originally nominating state for continued nomination
- Provide evidence of business/investment activity in that state
Lodge Application
Lodge Application
Lodge the 888 visa application
- Lodge the application online
- Provide evidence of business/investment activity
- Pay the visa fee
Required Documents
| Document Name | English Name | Required | Description | Tips |
|---|---|---|---|---|
| Passport | Passport | Valid passport | - | |
| Subclass 188 Visa | Subclass 188 Visa | The current 188 visa | - | |
| State Nomination | State Nomination | Continued state nomination | - | |
| Business Evidence | Business Evidence | Evidence of business operation/investment activity | - | |
| Financial Statements | Financial Statements | The latest financial statements | - |
FAQ
How long does the 888 visa take?
Common Refusal Reasons
- Not meeting the minimum period of holding a 188 visa (applicants after July 2015 usually need 4 years)
- Business/investment metrics fall short (such as the Business Innovation stream's net assets, employing 2 FTE staff, or not maintaining the investment)
- Insufficient cumulative residence in Australia (usually a cumulative 12 months is required)
- No state/territory government or Austrade nomination, or lacking the originally nominating state's release letter (Form 1414)
- The lawful source of funds or the genuineness of the business is in doubt, or health or character not met
Can you appeal after a refusal? See the Visa Refusal & Review (ART) Guide.