888 Business Innovation and Investment (Permanent) (subclass 888) visa – Premium Investor stream

At a Glance

Item	Details
Visa name	Subclass 888 Premium Investor
Stay	Permanent
Main cost	From AUD4,375
Eligibility timing	Hold provisional visa 12 months
Investment requirement	AUD15 million maintained
Nomination	Current Austrade nomination required
Work rights	Work in Australia
Study	Study in Australia
Medicare	May enrol in Medicare
Travel facility	Five years from grant
Citizenship	May apply if eligible
Family sponsorship	Sponsor relatives
Family inclusion	Before decision only
Visa record	Digital, linked to passport
Apply from	Inside or outside Australia
Processing	Use processing time guide

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Purpose

The Business Innovation and Investment (Permanent) visa (subclass 888), Premium Investor stream, lets eligible Premium Investor stream provisional visa holders continue investment activities and live permanently in Australia.

Eligibility

The primary applicant must:

• Hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Premium Investor stream for a continuous period of at least 12 months; or
• Hold a subclass 188 visa granted as the spouse or de facto partner of a Premium Investor stream holder, where that relationship has ended or the holder has died.
• Have a current Austrade nomination that has not been withdrawn.
• Have held the required complying premium investment, excluding any philanthropic contribution, throughout the provisional visa period.
• Have a realistic commitment to continuing business or investment activities in Australia.
• Not have been involved in unacceptable business or investment activities in Australia, including through a spouse or de facto partner.
• Have complied with Commonwealth and relevant state or territory laws if operating a business in Australia, including taxation, superannuation and workplace relations laws.
• Meet health and character requirements.
• Have no outstanding Australian Government debt, unless an approved repayment arrangement exists.
• Meet applicable immigration-history requirements. Previous visa cancellation or refusal may affect eligibility.

Complying premium investment

The original investment was AUD15 million in a complying premium investment. It must have been maintained for the entire qualifying provisional-visa period.

Permitted investment options included:

• Australian Securities Exchange listed assets
• Australian government or semi-government bonds or notes
• Eligible Australian corporate bonds or notes
• Eligible Australian proprietary limited companies
• Australian non-residential real property
• Deferred annuities from Australian registered life companies
• State or territory approved philanthropic contributions

For eligible funds, cash must not exceed 20% of net assets and derivatives may only be used for risk management.

Family Provisions

You can include members of your family unit when applying, or add them before a decision is made.

• Family members applying do not need to hold a subclass 188 visa.
• Family members applying must meet health requirements.
• Applicants aged 16 or over must meet character requirements.
• Non-migrating family members may also be required to meet health or character requirements.
• You cannot add family members after visa grant. They must apply for a separate visa if joining later.

Dependent children

A child over 18 generally must be:

• Under 23 and dependent on you or your partner; or
• Aged 23 or over, dependent because of physical or cognitive limitations.

Evidence of financial dependency is generally required for at least 12 months before application.

For children under 18, obtain consent from any person with legal authority over where the child lives who is not migrating. Use Form 1229 or a statutory declaration, unless a court order or home-country law permits migration.

Cost

The main applicant charge is from AUD4,375. Charges also apply for each family member included.

A second instalment of AUD4,890 may apply for dependent applicants aged 18 or over who have less than functional English and did not already pay that charge for their subclass 188 visa.

Other possible costs include:

• Health examinations
• Police certificates
• Biometrics

From 1 July 2026, eligible citizens of specified Pacific Island countries and Timor-Leste may receive a lower visa application charge. Eligibility is assessed using the primary applicant’s valid passport.

Processing

Use the visa processing time guide for recently decided applications. It is indicative only and is not specific to an individual application.

Processing may take longer if:

• The application is incomplete
• Required documents are missing
• Further information is requested
• Information requires verification

The application cannot be processed until the correct visa application charge is paid.

Rights

With this permanent visa, you can:

• Stay in Australia permanently.
• Work and study in Australia.
• Continue investment activities in Australia.
• Enrol in Medicare.
• Attend free English classes through the Adult Migrant English Program, if eligible.
• Sponsor eligible relatives to come to Australia.
• Apply for Australian citizenship, if eligible.

Newly arrived residents may need to wait before accessing certain Australian Government payments and benefits.

Travel

You may travel to and from Australia as often as you wish for five years from visa grant, while the travel facility remains valid.

After the initial five-year travel facility expires, obtain a Resident Return visa before returning to Australia as a permanent resident, unless you have become an Australian citizen.

If you leave Australia after the travel facility expires without another valid travel facility, you cannot return as a permanent resident.

Check travel-facility expiry through VEVO.

Obligations and Conditions

You and included family members must:

• Obey all Australian laws.
• Meet all visa conditions.
• Continue business and investment activities in Australia in line with the intentions outlined in the application.
• Notify the Department of changes to contact details, passport, relationship status, or the birth of a child.

If outside Australia at grant, you and included family members must enter Australia by the date specified by the Department. Some included family members may be unable to marry or enter a de facto relationship before entry, if notified by the Department.

Required Evidence

Provide clear colour copies of documents, including:

Identity and relationship

• Current passport biodata pages for all applicants
• National identity card, if available
• Name-change evidence, if applicable
• Marriage, divorce, separation, or death documents where relevant
• Relationship evidence for a partner who does not hold a dependent subclass 188 visa

Austrade nomination

• Completed Form 1414 — Nomination - Business Skills class
• Confirmation from Austrade that nomination remains current

Investment and business activity

• One-page summary of current Australian business and investment activities
• One-page summary of long-term Australian intentions
• Recent investment holding statements showing investor name, amount, and commencement date
• Evidence that complying premium investments of AUD15 million were maintained
• Form 1413D for each managed-fund investment, signed by the fund manager

For investments in an Australian proprietary company, provide evidence that the company:

• Operated for profit by providing goods or services to the public
• Was not a passive or speculative investment
• Had appropriate shareholder and ASIC records
• Has audited accounts covering the required investment period

Legal compliance

Provide a written declaration that you and your spouse or de facto partner complied with relevant Commonwealth, state, and territory laws, and details of any breaches.

Character

For each applicant aged 16 or over, provide:

• Form 80 — Personal particulars for assessment including character assessment
• Police certificates from every country where the person spent a total of 12 months or more during the past 10 years since turning 16
• Military records or discharge papers, if applicable

English

Provide functional-English evidence for dependent applicants aged 18 or over who did not pay the second instalment at provisional stage. If they cannot provide this evidence, the second instalment may be payable when requested.

Translation and format

• Translate non-English documents into English.
• Include both originals and translations.
• Use NAATI-accredited translators in Australia.
• Submit clear colour scans or photographs.
• Do not certify documents unless requested.

Application Steps

1. Ensure Austrade confirms your nomination remains current. A new expression of interest is not required.
2. Gather identity, nomination, investment, business, health, character, relationship, and dependency evidence.
3. Apply online through ImmiAccount.
4. Attach supporting documents and pay the correct application charge.
5. Record the transaction reference number (TRN).
6. Check ImmiAccount for requests, updates, health examinations, biometrics, or further information.
7. Pay any second instalment when invoiced.

You may be inside or outside Australia when applying and when the decision is made, but not in immigration clearance.

Important Warnings

• Provide true and accurate information and prove your identity.
• Do not cancel your current visa while in Australia. Doing so may make you unlawful and ineligible for a Bridging visa A.
• If you leave Australia while holding a Bridging visa A, it ceases. Obtain a Bridging visa B or make other return arrangements before departing.
• If a dependent child turns 18 or 23 during processing, additional dependency or disability evidence may be required.
• The visa application charge is not refunded if the application is refused.
• Australian visas are digital. No visa label is placed in your passport; use VEVO to check visa details and conditions.