The Business Innovation and Investment (Permanent) visa (subclass 888) is the next stage of subclass Business Innovation and Investment visa (subclass 188)
Once you fulfil all the requirements for Business Innovation and Investment visa (subclass 188), you can apply for this visa without submitting expression of Interest.
Requisites of the visa:-
- You Hold Business Innovation and Investment visa (subclass 188).
- You Meet all the requirements of Business Innovation and Investment visa (subclass 188).
- You should not have been involved in any illegal or unethical business practices.
- You have a satisfactory record of complying with Commonwealth laws, and of each State or Territory in which you operate a business and employ employees in the business, relating to your business.
- Have been nominated by State or territory.
- You have genuine commitment to maintain investment in Australia.
- You along with your partner has not been involved in any illegal business activities ever.
- You along with your partner hold good moral and health conduct.
Privileges of the visa:
- Provides you right to live in Australia indefinitely.
- Applicant can work in Australia during your stay.
- Allows you to apply citizenship if you meet certain requirements.
- Allows you to move to and fro for five years starting from the day visa is granted.
- You can sponsor your relatives for permanent residency.
How much the visa costs:
- Business Innovation and Investment (Permanent) (Subclass 888) visa-2255$(Base Application Charge)
- Additional Applicant Charge 18 and over-1130$
- Additional Applicant Charge 18 and under-565$
- Medical Examination:-To be paid directly to the doctor conducting medical examination
- Police check:-To the corresponding authorities in the respective countries where you have lived for more than 6/12 months depending on the visa subclass
- Certification/Translation of Docs-Depending on the certifying person and number of copies to be certified.