Overview
The Business Innovation and Investment (Permanent) visa (subclass 888) is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188). It allows holders of the provisional visa to attain permanent residency in Australia after fulfilling specific business or investment requirements.
Successful applicants can live and work in Australia indefinitely, enroll in Medicare, and eventually apply for Australian citizenship.
Visa Streams
This visa is divided into several streams, each tailored to the specific activity undertaken during the provisional stage:
- Business Innovation Stream: For those who have owned and operated a business in Australia for at least two years.
- Investor Stream: For those who have held a designated investment in an Australian state or territory for at least four years.
- Significant Investor Stream: For those who have held a complying significant investment of at least AUD 5 million for four years.
- Entrepreneur Stream: For those who have a successful record of entrepreneurial activity in Australia.
Eligibility Requirements
To be eligible for the subclass 888 visa in 2026, you must:
- Hold a Provisional Visa: You must hold a subclass 188 visa or, in specific cases, a subclass 444 or 457 visa.
- Be Nominated: You must be nominated by an Australian state or territory government agency.
- Meet Business/Investment Thresholds: You must demonstrate that you have met the specific financial and operational requirements of your chosen stream.
- Health and Character: All applicants and family members must meet the Australian government’s health and character standards.
2026 Costs and Charges
The following rates represent the Department of Home Affairs Base Application Charges effective for the 2026 program year.
| Applicant Category | Base Application Charge (AUD) |
| Main Applicant | $3,500 |
| Additional Applicant (18 and over) | $1,755 |
| Additional Applicant (under 18) | $875 |
Note: A second installment charge of $4,890 may apply for applicants aged 18 or older who do not have functional English.
Processing Times
Processing times are subject to the volume of applications and the complexity of individual cases. Based on the 2026 Department of Home Affairs benchmarks, the current processing percentiles are:
- 50% of applications: 10 Months
- 90% of applications: 22 Months
Applicants are encouraged to ensure all documentation is complete upon lodgement to avoid delays.
FAQ
Can I travel outside of Australia once the visa is granted? Yes. The subclass 888 is a permanent visa with a five-year travel facility. You can travel to and from Australia as many times as you like during this period. After five years, you will need a Resident Return Visa (RRV).
Do I need to submit a new Expression of Interest (EOI)? No. You do not need to submit a new EOI to apply for the subclass 888 visa, but you must obtain a new nomination from a state or territory.
What is the "Mobile" requirement for contact? You must provide a valid Australian Mobile number and email address to receive updates regarding your application status via the Department’s digital platforms.
Can I include my family? Yes, you can include members of the family unit in your application at the time of lodgement.
