Business Innovation Permanent Visa — Subclass 888
Business Innovation Permanent Residence
The Business Innovation and Investment (Permanent) visa (subclass 888) is the permanent residence pathway for existing subclass 188 holders who have met the required business performance benchmarks, residency requirements, and state nomination conditions in Australia.
Subclass 888 — Business Innovation stream
The subclass 888A is the permanent visa for holders of a subclass 188A Business Innovation provisional visa who have demonstrated genuine and successful business activity in Australia. To apply, the holder must have held a subclass 188A visa for at least three years and must have been present in Australia as required under the applicable residency formula.
The business performance requirements are substantial. The applicant must demonstrate continuous ownership and active management of at least one Australian business in the 24 months immediately before the subclass 888 application. The required ownership percentage and minimum turnover thresholds depend on the annual turnover of the business.
A state or territory nomination is required for the subclass 888. The nominating state assesses whether the applicant has met the specific conditions imposed at the time of the original 188 nomination, including settlement obligations, investment commitments, and business activity requirements.
Key requirements
Minimum three years on subclass 188
The applicant must have held a subclass 188A or 188A extension visa for at least three years before applying for the subclass 888A.
Residency requirement
Applicants invited after 1 July 2021 must have been present in Australia for at least one year within the three years preceding the subclass 888 application.
Business ownership and activity
Continuous ownership and active management of a qualifying Australian business in the 24 months before application. Minimum ownership percentage and turnover thresholds apply based on business size.
State or territory nomination
A valid nomination from the relevant state or territory government is required before the subclass 888 can be granted. Each state applies its own assessment of compliance with the original nomination conditions.
Net assets
The applicant and their spouse or de facto partner must have a combined net personal and business asset value of at least AUD 1.25 million transferable to Australia within two years of the 888 visa being granted.
888A
Business Innovation stream
3 years
Minimum time on subclass 188
AUD 1.25M
Minimum net assets
Permanent
Visa if granted
Why instruct Visa Plan?
Pre-application assessment
The subclass 888 requirements are exacting. We assess business turnover, ownership structure, net assets, and residency against the applicable criteria before any application is lodged, and identify any gaps that need to be addressed.
State nomination management
State nomination for the subclass 888 requires a detailed submission demonstrating compliance with original nomination conditions. We manage the state nomination process and the federal application in sequence.
Role swapping advice
In some cases, the secondary visa holder has taken the lead in managing the business. We advise on role swapping provisions that allow the secondary applicant to become the primary applicant for the subclass 888 where appropriate.
Subclass 888 information is sourced from the Department of Home Affairs and is current as at April 2026. Eligibility criteria, state nomination requirements, and asset thresholds are subject to change. This page provides general information only and does not constitute legal advice.