INVESTMENT VISA
For people who have owned and operated a business in Australia.
Business Innovation and Investment (Permanent) Visa (Subclass 888)
Introduction: Welcome to Flyworld Migration, your trusted partner in navigating the intricacies of Australian migration. The Business Innovation and Investment (Permanent) Visa (Subclass 888) is a permanent residency visa designed for individuals who have successfully operated a business or made a designated investment in Australia.
Overview: The Subclass 888 visa provides a pathway to permanent residency for individuals who have held a qualifying provisional visa, such as the Business Innovation and Investment (Provisional) Visa (Subclass 188), and have met the requirements of the visa stream they were nominated for. It aims to retain experienced business owners and investors who have contributed to the Australian economy and have demonstrated their commitment to ongoing business operations or investment.
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Benefits
- Permanent residency status in Australia for the visa holder and eligible family members.
- Freedom to live, work, and study anywhere in Australia indefinitely.
- Access to government services and entitlements, including healthcare and education.
- Opportunity to apply for Australian citizenship after meeting residency requirements.
- Ability to sponsor eligible family members for permanent residency.
Eligibility
- Eligibility criteria for the Business Innovation and Investment (Permanent) Visa (Subclass 888) include:
- Holding a qualifying provisional visa, such as the Business Innovation and Investment (Provisional) Visa (Subclass 188).
- Meeting the criteria of the visa stream under which the applicant was nominated (Business Innovation stream, Investor stream, Significant Investor stream, Entrepreneur stream, or Premium Investor stream).
- Demonstrating a successful track record in business or investment.
- Meeting health and character requirements.
- Satisfying any additional criteria specified by the Department of Home Affairs.
Requirements
- Requirements for the Subclass 888 visa include:
- Submission of evidence demonstrating that the applicant has met the requirements of the qualifying provisional visa and the specific stream under which they were nominated.
- Providing evidence of ongoing business operations, financial statements, and tax records to demonstrate the viability of the business (for Business Innovation stream applicants) or evidence of maintaining the designated investment (for Investor and Significant Investor stream applicants).
- Meeting health and character clearance requirements.
- Providing evidence of sufficient settlement funds if required.
How to Apply:
- Ensure that you meet the eligibility criteria and have met the requirements of a qualifying provisional visa.
- Gather all necessary documents, including proof of residency, business or investment records, health, and character documents.
- Complete the visa application form and attach required documents.
- Lodge the visa application online through the Department of Home Affairs' online portal.
- Pay the visa application fee.
- Undergo health examinations and provide police clearance certificates if required.
- Await visa decision from the Department of Home Affairs.
- Processing Time: Processing times for the Business Innovation and Investment (Permanent) Visa (Subclass 888) vary depending on various factors such as the visa stream chosen, the volume of applications, and individual circumstances. Generally, processing times range from several months to over a year.
- Cost: The cost of applying for the Business Innovation and Investment (Permanent) Visa (Subclass 888) varies depending on factors such as the visa stream chosen and whether the applicant includes family members. As of [current date], the visa application fee starts from AUD $3,310.00.
- At Flyworld Migration, we understand the importance of attracting and retaining experienced business owners and investors. Contact us today for expert guidance and assistance throughout the application process for the Subclass 888 visa!
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