888 Australian Visa in Parramatta, NSW

Who is the 888 Australian visa suitable for?

If you have entered Australia with an entrepreneurial visa to test the economic conditions and estimate the profit of your investment, and are now satisfied with your income after 4 years of investment in the Australian market, you can get help from the 888 visa. Of course, for the entrepreneurship and innovation visa, you must have a significant amount of assets and returns.

Briefly, these visas are as follows:

• Regular Investment Visa (Permanent)
• Special Australian Investment Visa Significant Investor Stream
• Business Innovation Visa

Requirements for Obtaining an 888 Australian Visa

To obtain an 888 visa through entrepreneurship, the following basic requirements are required:

• Having at least one year of residence in Australia in the last twenty-four months
• Having at least two years of business activity history and the ability to provide BAS tax documents
• In the case of having a business worth $ 400,000, having 51% of the shares of that business
• In the case of having a business worth less than $ 400,000, having 30% of the shares of it
• Having a minimum of $ 200,000 in capital in the business
• Employing at least 2 Australian workers
• Proof of having a management history in the business
• Having a temporary investment visa 188
• Being sponsored by a state Australia

Note 1: The two employees you hire must be Australian citizens, Australian permanent residents or valid New Zealand passport holders and are not family members of the applicant.

Note 2: The minimum investment amount varies for each state.

Requirements for obtaining a significant investor stream business

To obtain a regular business visa, which is actually a business with more ideal conditions for investors, the following requirements are required:

• At least 4 years of the applicant’s business and business have passed.
• The applicant has lived in Australia for 2 years.
• The applicant’s spouse has been in Australia for 3 months.

Time required for reviewing the 888 Australian visa

The processing time for reviewing and issuing the 888 Australian visa for 75% of cases is within 10 months and 90% of cases within 12 months, but in general, the processing time varies according to personal circumstances. For example, if you have not completed and submitted the documents correctly or have not submitted all the required documents, the Australian Immigration Department will need more time to process your visa application.

Benefits of the 888 Australian Visa:

If you are successful in obtaining the 888 Australian Permanent Visa, you have the opportunity to enjoy the benefits of this visa:

• Permanent residence in Australia
• Work and study in Australia
• Use of Australian health services
• Permission to send an Australian invitation for family
• Travel to Australia for 5 years

What are the eligibility criteria for the 888 Australian Visa?

The 888 Australian Visa is a Business Innovation and Investment (Permanent) visa for people who hold a Subclass 188 visa and want to be allowed to live and manage their business in Australia for an unlimited period.

Just like the Subclass 188 visa, this visa is based on the applicant’s contribution to the Australian economy in five designated investment streams.

The 888 visa subclass streams include the Business Innovation Stream, Investment Stream, Significant Investment Stream, Superior Investment Stream and Entrepreneurial Stream.

If a person applies for the 888 Australian visa, they will not need to take the additional points test. They will also not need to submit a new EOI and will not be invited by the Department of Immigration to review their visa. However, the applicant for this visa must still be nominated by an Australian state or territory or by Austrade on behalf of the government.

Other general requirements for qualifying for the 888 visa subclass include:

• The applicant and their spouse or partner must have a proven track record and must have complied with the laws of the Commonwealth and the state or territory in which they are working.
• The applicant may be over 55 years of age as there is no age limit for the 888 visa.
• The principal applicant must demonstrate that they meet the requirements to establish a business in Australia or continue to invest for the prescribed period of 4 years.
• The applicant must have the required net worth in accordance with the 888 visa rules.
• The applicant and their spouse must be of Australian health and character
• The applicant must provide a realistic commitment to the ability to continue their business and investment in Australia after the initial investment matures.