***Please note: Requirements below are prescribed by the Department of Home Affairs (DHA). Before meeting the DHA’s requirements, you will also need to meet the nomination requirements of the state, which sponsored you for your Subclass 188 Visa
This is a permanent visa that allows you to live in Australian permanently. The subclass 888 visa has two Eligibility Streams:
• The Business Innovation Stream, and
• The Investor Stream.
You need to meet the following requirements to apply for subclass 888 visa.
A. Business activity
You must be involved in a business(es) that has been actively operating throughout the last two years.
This would usually be shown in each quarter by at least one of the following:
• substantial sales revenue
• leasing or owning of a business premises
• employment of staff
• significant capital investment (not including purchase of a motor vehicle)
• substantial purchase of stock.
B. Net assets and job creation
You must meet at least two of the following three requirements:
1. Your business(es) employed at least the equivalent of two full-time employees (who are not family members) throughout the last 12 months.
2. The net value of your (or your and your spouse’s combined) personal and business assets in Australia has been A$600,000:
3. The net value of your (or your and tour spouse’s combined) assets in your business(es) in NSW is at least A$200,000:
C. Management of business
You must be actively involved in managing the business(es). As a guide, most small businesses require only one manager who usually controls more than 51% of the shareholding.
You must have invested at least A$200,000 in your business for at least the last 12 months.
The business investment varies in different states: for example, in NSW:
(If your business is in Sydney:
• You must have invested at least A$500,000 in your business for at least the last 12 months.
If your business is in Regional NSW:
• You must have invested at least A$300,000 in your business for at least the last 12 months)
The business investment must be in property, plant & equipment, inventory, or purchased goodwill.
D. Successful business career
You must provide a full resume of your business career and responsibilities demonstrating a successful business career.
E. Annual Business Turnover
Your main business or businesses (or the business or businesses of your spouse or de facto partner, or of you and your spouse or de facto partner together), had an annual turnover of at least $300,000 in the 12 months immediately before the application was made.
F. Successful business career
G. Residence Requirement
You must have been physically present in Australia for at least 1 year in the 2 years immediately before you apply.
888 Visa Documents Required:
• Completed nomination form from a State/Territory Government in Australia
• Summary of your business activities
• ASIC historical extract
• Extract of evidence for applicant active involvement in the management of business
· Financial statement for the last 2 year
• Advise which two of the following three requirements you meet and provide evidence:
• Documents proving commitment to business and investment activity including:
✓ A one-page summary of your long-term business or investment intentions in Australia.
✓ Documentary confirmation that you have conducted an investigation into the business or investment environment in Australia.
✓ Proof of conduct related to the laws of the Commonwealth and State/Territory in which you run your business submitted in the form of:
✓ A written declaration confirming compliance with laws of the Commonwealth and State/Territory in which you run your business, or
✓ Details of incidents and instances where you were in breach of laws of the Commonwealth and State/Territory in which you run your business.
• Proof of identity consisting of a passport sized photo and certified copies of current passports or travel documents of all the persons who have been included in the application.
• Documents regarding any change in circumstances such as change of name, civil status, death of partner or family member, and proof of genuineness of any relevant de-facto relationship.
• Documents that prove the identities of dependents not holding a provisional visa.
• Evidence of financial dependency of all your family members above the age of 18 years.
• Documents proving good character and English proficiency.
• Documents related to business organization, business ownership, management, taxation, employees, net assets, designated investments.
• All other documents related to the desired stream of application of the visa.
• Employee-related documents
✓ Employment contract,
✓ Evidence for employee permanent residence-visa grant letter or VEVO
✓ PAYG summary
✓ Employees superannuation payment evidence/record
✓ Please provide the following information
∎ Employee start date
∎ Employee last date (if applicable)
∎ Weekly work hours
∎ Annual wages
888 Visa Processing times:
As of 1 June 2023
• 25% of applications: 29 Months
• 50% of applications: 31 Months
• 75% of applications: 34 Months
• 90% of applications: 35 Months
Your application may take longer to process if:
• you do not complete the application form correctly.
• you do not include all the documents DOHA need or DOHA need more information from you
• it takes DOHA time to verify your information.
DOHA cannot process your application if you do not pay the correct visa application charge. DOHA will notify you if this is the case and if necessary, return your application.
It is advisable to keep all these documents in one place to ensure a smoother visa application process. Remember that the relevant state and the Department of Home Affairs will assess these documents to evaluate your eligibility for the subclass 888 Visa.
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: email@example.com
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.
You can be confident in your decision to get assistance from Parish Patience as an immigration lawyer. Our team of experts will provide you with the best service and advice possible for all visa needs, so don’t hesitate any longer!
Level 3, 83 York Street Sydney NSW 2000
02 9286 8700