Your Pathway to Permanent Residency as a Business Owner or Investor
Note: the BIIP closed to new subclass 188 applications on 31 July 2024 – this page is for existing 188 visa holders. The Subclass 888 Visa grants permanent residency to holders of the Subclass 188 (Business Innovation & Investment – Provisional) Visa who meet ongoing business or investment requirements. It is the final step for entrepreneurs and investors seeking long-term settlement in Australia.
Key Benefits of the 888 Visa
✅ Permanent residency status in Australia
✅ Live, work, and study anywhere in Australia
✅ Access to Medicare and social benefits
✅ Sponsor eligible family members
✅ Pathway to citizenship (after 4 years)
✅ No further investment requirements after grant
Eligibility Requirements by Stream
1. Business Innovation Stream
For 188 Business Innovation holders who have successfully operated a business in Australia.
Requirements:
✔ Held a Subclass 188 Business Innovation visa for at least 2 years
✔ Owned and managed a business in Australia for at least 2 years
✔ Meet two of the following for the past 12 months:
- Annual turnover of AUD 300,000+
- Employed at least 2 Australian workers (full-time)
- Business & personal assets of AUD 600,000+ in Australia
- Business assets of AUD 200,000+ in Australia
2. Investor Stream
For 188 Investor Visa holders who maintained their complying investment.
Requirements:
✔ Held a Subclass 188 Investor visa for at least 4 years
✔ Maintained a complying investment of AUD 2.5M for the entire period
✔ Lived in Australia for at least 2 years (cumulative)
3. Significant Investor Stream (SIV)
For 188 Significant Investor Visa holders who maintained their AUD 5M investment.
Requirements:
✔ Held a Subclass 188 SIV visa for at least 4 years
✔ Maintained AUD 5M in complying investments
✔ Lived in Australia for at least 40 days per year (or spouse for 180 days)
4. Entrepreneur Stream
For 188 Entrepreneur Visa holders who developed their business in Australia.
Requirements:
✔ Held a Subclass 188 Entrepreneur visa for at least 4 years
✔ Met business development milestones
✔ Generated AUD 300,000+ in revenue or secured AUD 200,000+ in funding
How the 888 Visa Process Works
- Meet Provisional Visa Requirements – Fulfill business/investment obligations
- Gather Financial & Business Evidence – Tax returns, employment records, investment proofs
- Lodge Visa Application – Submit via ImmiAccount
- Visa Grant – processing times vary; check the Home Affairs processing time guide
Why Choose the 888 Visa?
🔹 No points test or English test (for most streams)
🔹 Family included in the application
🔹 No restrictions on work or study
🔹 Citizenship eligibility
How Immigrad Can Help
✅ Eligibility Verification – Confirm you meet all criteria
✅ Document Preparation – Financial statements, business proofs
✅ Application Lodgement – Avoid common refusal reasons
✅ Post-Visa Support – Citizenship pathway guidance
Ready to Apply for Permanent Residency?
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Official Resources:
Home Affairs – 888 Visa
Business Visa Requirements
Note: Immigration regulations change frequently. While we maintain current knowledge, we recommend verifying information with the Department of Home Affairs or consulting a registered migration agent.
Comparison: 188 vs 888 Visa
| Feature | Subclass 188 (Provisional) | Subclass 888 (Permanent) |
|---|---|---|
| Visa Type | Temporary (5 years) | Permanent |
| Investment Lock-in | Required | Released after PR |
| Business Obligations | Must establish operations | Must prove 2+ years of activity |
| Processing Time | Check with agent | Check with agent |
| Pathway to Citizenship | No | Yes (after 4 years total residence) |
This page is general information only and is current as at the date shown in the page schema. Stream requirements and charges change; the programme status above was checked against the Department of Home Affairs. Complex cases need personal advice from a registered migration agent.
Frequently asked questions
Who can apply for a subclass 888 visa?
The subclass 888 visa is for people who already hold a subclass 188 Business Innovation and Investment (Provisional) visa and who meet the ongoing business or investment requirements for their stream. It is not open to people who have never held a subclass 188 visa. Each stream has its own criteria, which are set out by the Department of Home Affairs.
Is the subclass 888 visa still available after the BIIP closure?
Yes. The Business Innovation and Investment Program closed to new subclass 188 applications on 31 July 2024, but that closure does not remove the subclass 888 pathway for people who already hold the provisional visa. Existing 188 holders who meet their stream requirements may still be eligible to apply for the permanent visa.
What are the streams of the subclass 888 visa?
The Department of Home Affairs publishes the subclass 888 visa across streams including Business Innovation, Investor, Significant Investor and Entrepreneur. Each stream corresponds to the subclass 188 stream the applicant held and carries its own business ownership, investment or entrepreneurial activity requirements. The requirements that apply to you are those for the stream of your provisional visa.
Does the subclass 888 visa give permanent residence?
Yes, the subclass 888 is a permanent visa. Permanent residents can live, work and study in Australia indefinitely and may later be eligible to apply for Australian citizenship once residence and other requirements are met. Permanent visas contain a travel facility, after which a resident return visa is needed to re-enter Australia.
Can I include my family in a subclass 888 application?
Eligible members of your family unit, such as a partner and dependent children, can generally be included in the application. Each additional applicant attracts an additional applicant charge and must meet health and character requirements. Whether a particular family member is eligible to be included depends on their relationship to you and their dependency.
What happens if I no longer meet my stream’s requirements?
If the business or investment activity underpinning your stream has changed, your eligibility to apply for the subclass 888 may be affected. The Department assesses the requirements as they apply at the time of application and decision. Where circumstances have shifted, it is worth getting advice from a registered migration agent before lodging rather than after.
Related pages
Subclass 188 visa (closed to new applications) · Permanent residence pathways · Employer-sponsored visas · Book a consultation