Why apply for a Subclass 888 Visa?

• Stay in Australia permanently
• Avail Australia’s healthcare scheme
• Travel in and out of Australia as many times as you like in 5 years
• Sponsor eligible relatives in Australia
• Apply for Australian citizenship

 

What is a Subclass 888 Visa?

Subclass 888 visa applicants can stay in Australia permanently. This visa allows individuals to own and manage a business in Australia, conduct business activities, and engage in entrepreneurial activities. Subclass 888 Visa applicants need not submit EOIs; they will be nominated by the Australian State, territory, or Government. 

Subclass 888 visa streams

The Subclass 888 visa has five streams, depending on the applicant’s contribution to the Australian economy.

• Business Innovation stream
• Investor stream
• Significant Investor stream
• Premium Investor stream
• Entrepreneur stream

 

Eligibility for Subclass 888 Visa

To be eligible for Subclass 888 Visa, one must hold any one of the following visas:

• Subclass 188 Visa that is relevant to their field of work
• Subclass 444 Visa (Special Category visa)
• Subclass 457 Visa (Temporary Business Long Stay Visa)

 

Subclass 888 requirements

• A passport or any valid travel document
• Bank statements for two years
• Must have stayed in Australia for at least 2 years before submitting your subclass 888 application
• Possess ownership interest in an Australian business for the last 2 years
• Your business must possess an ABN and have registered the necessary Business Activity Statements (BAS) for the last 2 years
• Should have an income of at least AUD 300,000 in the last 12 months
• Must fulfill any of the two criteria listed below:
  • Net capital must be AUD 200,000
  • 2 Full-time employees must not be relatives and must be NZ passport holders or Australian permanent residents or citizens.
  • Net personal capital must be AUD 600,000

 

Other requirements for subclass 888 include:

• You and your partner must meet Australian character and health requirements.
• Applicants must be genuine in their commitment to continuing their business and investment activity in Australia as soon as the initial investment has matured.
• Evidence that you and your partner have agreed with the Commonwealth laws and the State or Territory where you operate your business.

 

Steps to apply for Subclass 888 Visa

Step 1: Check your eligibility
Step 2: Arrange the checklist of documents required
Step 3: Apply for the "Subclass 888" Visa
Step 4: Wait for the Visa Status
Step 5: Settle in Australia permanently

 

Validity of Subclass 888 Visa

Subclass 888 visa holders can stay in Australia permanently.

 

Cost of Subclass 888 Visa

The cost of a Subclass 888 Visa is AUD 3,310.00

 

Processing Time for Subclass 888

The processing time of Subclass 888 varies from 20 to 27 months. If you are in Australia during the submission of your Subclass 888 visa application, an extension visa will be granted to you. This extension will automatically come into effect upon the expiry of your current visa if your Subclass 888 visa application has not been granted.

 

How can Y-Axis help you?

Y-Axis has been providing unbiased and personalized immigration-related assistance for more than 25 years. Our team of experienced immigration experts is here to provide end-to-end support to help you migrate to Australia. Our services include:

• Free eligibility check through the Australia Immigration Points Calculator
• Expert guidance/consultation for Australia Immigration
• Coaching services: Expert PTE coaching, IELTS proficiency Coaching 
• Free career consultation: Book your slot today
• Complete guidance for Australia PR visa
• Job search services to find related jobs in Australia

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