This is a permanent visa that allows you to live in Australian permanently.
The subclass 888 visa has two Eligibility Streams:
For applicants whose provisional visa (188 visa) was nominated before 01 July 2021.
In addition, you must meet at least two out of the following three criteria:
Have at least AUD 200,000 in net business assets throughout the 12 months immediately before the application, which were lawfully acquired.
Have at least 2 full-time employees who are Australian citizens, permanent residents, or New Zealand passport holders, excluding family members, for 12 months prior to the application.
Possess at least AUD 600,000 in net total assets throughout the 12 months ending immediately before the application, which were lawfully acquired.
You also need to provide evidence of compliance with Australian Tax Law, demonstrate a clean business background, and have spent at least 12 months physically in Australia in the previous 2 years as a holder of a 188 visa under the Business Innovation Stream or Extension Stream.
Furthermore, you must hold a Business Innovation visa at the time of application as the primary applicant.
Failure to meet the residence requirement in the Investor Stream may result in the refusal of your application, regardless of the performance of your business(es).
It’s important to note that immigration regulations can change over time, so it’s always best to consult with an Immigration Lawyer or a registered migration agent for the most up-to-date and accurate information regarding visa requirements and exemptions.
Please call our office on 02 9286 8700 or email: firstname.lastname@example.org
Parish Patience Immigration Lawyers is here to assist if you wish to move to Australia as a skilled worker and require professional advice.
Book a Consultation for Expert Advice on subclass 888 Visa.
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02 9286 8700