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

At a Glance

Item	Details
Visa name	Investor stream, subclass 888
Visa type	Permanent residence
Stay	Permanently
Cost	From AUD4,375
Eligibility timing	Subclass 188 Investor holder
Work rights	Work in Australia
Study	Study in Australia
Medicare	May enrol in Medicare
Travel facility	Multiple travel for five years
Citizenship	Apply if eligible
Family sponsorship	Sponsor relatives
Family inclusion	Include before decision
Visa record	Digital visa linked to passport
Apply from	Inside or outside Australia
Nomination	Current state or territory nomination
Processing	Use processing time guide

---

Purpose

The Business Innovation and Investment (Permanent) visa (subclass 888), Investor stream, lets eligible subclass 188 Investor stream holders continue investment activities and live permanently in Australia.

Eligibility

You must meet all applicable criteria.

Provisional visa and nomination

You must:

• Be the primary holder of a Business Innovation and Investment (Provisional) visa (subclass 188), Investor stream; or
• Be its secondary holder where your spouse or de facto partner is the primary Investor stream holder.
• Have a current state or territory nomination.
• Have the state or territory confirm the nomination remains current. A new Expression of Interest is not required.
• Have a realistic commitment to continue business or investment activities in Australia.

The source states that, if invited to apply for the original subclass 188 on or after 1 July 2021, you must have held it for at least 3 years. Its step-by-step section instead states at least 2 years in the 3 years. Preserve and check the applicable requirement before applying.

Investment requirements

If invited before 1 July 2021, you must have held a AUD1.5 million designated investment continuously:

• 4 years if the provisional application was made on or after 1 July 2015; or
• 3 years and 11 months if made before 1 July 2015.

The investment must have been in your name, or jointly with your spouse or de facto partner.

If invited on or after 1 July 2021, you or you and your spouse or de facto partner combined must have held a AUD2.5 million complying significant investment throughout the provisional visa period. Tell the Department about any transfers between investments.

Residence requirement

Unless a COVID-19 concession applies:

• If invited before 1 July 2021: be physically present in Australia for at least 2 of the 4 years immediately before applying.
• If invited on or after 1 July 2021: be physically present in Australia for at least 2 years in the 3 years immediately before applying.

Equivalent requirements apply to secondary holders based on the primary holder’s invitation date.

Other requirements

You and applicable family members must:

• Meet health requirements.
• Meet character requirements.
• Have no Australian Government debt, unless repaid or under an approved arrangement.
• Not have an adverse immigration history that prevents grant.
• Not have been involved in unacceptable business or investment activities.
• Follow Australian laws, including taxation, superannuation and workplace-relations laws if operating an Australian business.
• Sign the Australian Values Statement if aged 18 or over when decided.

Applicants aged 18 or over who did not pay a second instalment for a previous subclass 188 application must show functional English or pay the second instalment when requested.

COVID-19 concessions

The source describes concessions for certain subclass 188 Investor stream holders affected during the COVID-19 concession period, including:

• Expired provisional visas during that period.
• Overseas time counting as Australian residence in specified circumstances.
• Designated-investment withdrawal or cancellation during that period, subject to conditions.

These concessions are time-limited and have specific requirements, including that the first Investor stream visa was granted on or before 30 June 2019 in some cases.

Rights and Benefits

With this visa, you can:

• Stay in Australia permanently.
• Work and study in Australia.
• Enrol in Medicare.
• Attend free Adult Migrant English Program classes, if eligible.
• Sponsor eligible relatives to come to Australia.
• Apply for Australian citizenship, if eligible.
• Travel in and out of Australia for five years from grant.

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

For citizenship purposes, permanent residence starts:

• On visa grant, if you are in Australia; or
• On first entry using this visa, if outside Australia at grant.

Family Provisions

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

Family members may need to meet health and character requirements even if they are not travelling to Australia.

After grant, you cannot add family members to this application. A family member wishing to join later must apply for a separate suitable visa.

Dependent children

A child over 18 generally must be:

• Under 23 and dependent on you or your partner; or
• Aged 23 or over, unable to support themselves due to physical or cognitive limitations, and dependent.

Consent is required for a child under 18 where another person with legal responsibility is not migrating. Use Form 1229 or provide equivalent consent or legal evidence.

Cost

The application charge starts from AUD4,375 for the main applicant. Charges also apply for each accompanying family member.

A second instalment of AUD4,890 may apply to applicants aged 18 or over who cannot show functional English and did not already pay the relevant second instalment for subclass 188. Pay only when requested.

Other possible costs include health examinations, police certificates and biometrics.

From 1 July 2026, eligible citizens of specified Pacific Island countries and Timor-Leste may receive a lower visa charge when lodging a valid application using an eligible passport. This may also apply to family members based on the primary applicant’s passport.

Documents

Provide clear colour scans or photographs. Translate non-English documents into English and include both originals and translations.

Key evidence includes:

• Current passport identity pages for all applicants.
• National identity card, if available.
• Name-change evidence, if applicable.
• Marriage, divorce, separation or death documents, where relevant.
• Form 1414 completed by the nominating state or territory.
• One-page summary of current Australian business and investment activities.
• One-page summary of long-term Australian intentions.
• Declaration and breach details showing compliance with Australian laws.
• Investment evidence relevant to your invitation date.
• Evidence of Australian residence, where required.
• Functional-English evidence, where required.
• Health and character documents.
• Family relationship, dependency and parental-consent evidence, where applicable.

For character assessment, applicants aged 16 or over must provide:

• Form 80.
• Police certificates for each country where they spent 12 months or more in the last 10 years since turning 16.
• Military records or discharge papers, if applicable.

For complying significant investments, evidence can include holding statements, Form 1413D for managed funds, and transfer evidence plus Form 1412 where investments were switched.

How to Apply

1. Confirm that the state or territory nomination is current.
2. Gather identity, investment, residence, character, health and family documents.
3. Create or sign in to ImmiAccount.
4. Complete the online application.
5. Attach supporting documents.
6. Pay the application charge.
7. Keep the transaction reference number.

You can apply and receive a decision while in or outside Australia, but not while in immigration clearance.

After Applying

• Check ImmiAccount for requests and updates.
• Provide biometrics or health examinations if requested.
• Attach missing documents promptly.
• Tell the Department about changes to contact details, passport, relationship status, a child’s birth, or withdrawal.
• Use Form 1023 to correct incorrect answers.
• You may add eligible family members before a decision using Form 1436.

If applying in Australia, remain lawful. The source states a Bridging visa A is granted when applying; it starts when the current visa expires. Do not cancel the current visa, as this may leave you unlawful and ineligible for a Bridging visa A.

A Bridging visa A ceases if you leave Australia. Apply for a Bridging visa B or make other return-visa arrangements before travelling.

Travel

The visa has a five-year travel facility from the grant date. You may travel in and out of Australia as often as you wish while it remains valid.

After the travel facility expires, apply for and receive a Resident Return visa before returning as a permanent resident, unless you become an Australian citizen.

Check the travel facility end date in VEVO.

Obligations and Warnings

You and your family members must obey Australian laws and comply with visa conditions.

The Department expects you to continue business and investment activities in Australia in line with the intentions provided in the application.

If granted outside Australia, you and your family members must enter Australia by the date specified by the Department. Some included family members may be restricted from marrying or entering a de facto relationship before entry.

The visa is digital. No visa label is placed in your passport; the visa record is linked electronically to your passport. Use VEVO to check visa details and conditions.