The Business Innovation and Investment (Permanent) visa — subclass 888 is the permanent residence visa for holders of the subclass 188 Business Innovation and Investment (Provisional) visa who have fulfilled the obligations of their provisional visa in Australia. The 888 provides permanent residence to business owners, investors, and entrepreneurs who have demonstrated ongoing commitment to business or investment activity in Australia. It operates across five streams — each corresponding to a stream of the subclass 188 provisional visa — and generally requires state or territory nomination at the permanent stage.

For current eligibility requirements, obligations to fulfil before applying, and fees for each 888 stream, refer to the DHA subclass 888 page.

• Migration Regulations 1994 — Subclass 888 (Business Innovation and Investment — Permanent) — criteria for all five streams
• DHA: Business Innovation and Investment (Permanent) visa — subclass 888 — immi.homeaffairs.gov.au/888
• DHA: Business Innovation and Investment (Provisional) visa — subclass 188 — immi.homeaffairs.gov.au/188

The 188 → 888 pathway

The 888 is a second-stage permanent visa — it can only be applied for by a person who holds, or has previously held, a subclass 188 provisional visa in the corresponding stream. The typical pathway is:

1. Apply for and be granted the subclass 188 provisional visa in the relevant stream
2. Reside in Australia and fulfil the business, investment, or entrepreneur obligations required by the specific 188 stream
3. Apply for the subclass 888 permanent visa — generally requiring the same state or territory that nominated the 188 to nominate the applicant for the 888 as well

The 188 is valid for up to 5 years (with possible extensions) to provide time for the applicant to fulfil their provisional visa obligations before applying for the 888. For details on the 188 provisional visa and its streams, see the BIIP 188 page.

The five streams

Business Innovation stream

The Business Innovation stream is for persons who have owned and managed a successful business in Australia under the 188 Business Innovation stream. To be eligible for the 888 Business Innovation stream, the applicant must have held a 188 Business Innovation visa and have fulfilled the ongoing business requirements — demonstrating turnover, net assets, and other business performance indicators during the provisional visa period. For current eligibility criteria, refer to the DHA 888 Business Innovation stream page.

Investor stream

The Investor stream is for persons who have made and maintained a designated investment in an Australian state or territory under the 188 Investor stream. The investment must have been maintained throughout the provisional visa period. For current requirements, refer to the DHA 888 Investor stream page.

Significant Investor stream

The Significant Investor stream is for persons who held a 188 Significant Investor visa and have maintained a complying significant investment of at least AUD $5 million in Australia throughout the provisional visa period. Complying investments are in specific categories (Australian venture capital, emerging companies managed funds, and other assets). For current requirements, refer to the DHA 888 Significant Investor stream page.

Premium Investor stream

The Premium Investor stream is for persons who held a 188 Premium Investor visa and have maintained a complying premium investment of at least AUD $15 million in Australia. For current requirements, refer to the DHA 888 Premium Investor stream page.

Entrepreneur stream

The Entrepreneur stream is for persons who held a 188 Entrepreneur visa and who have been involved in entrepreneurial activities in Australia — including developing and commercialising a product or service, or building a business as specified in their original complying entrepreneur agreement. For current requirements, refer to the DHA 888 Entrepreneur stream page.

Outcome — permanent residence

If granted, the subclass 888 is a permanent visa that allows the holder to:

• Live, work, and study in Australia indefinitely
• Travel to and from Australia for up to 5 years from the visa grant date (after which a Resident Return Visa may be needed for re-entry)
• Sponsor eligible relatives for certain visas
• Apply for Australian citizenship after meeting the citizenship residence requirements

The subclass 888 represents the permanent residence outcome for the Business Innovation and Investment Programme (BIIP) — a pathway designed to attract business owners, entrepreneurs, and investors who will create economic activity and jobs in Australia. The 188 → 888 pathway requires genuine ongoing business or investment activity in Australia during the provisional period, not merely holding the investment — DHA assesses whether the obligations were substantively met, not merely technically satisfied. For current processing times, state and territory nomination processes for the 888, and how to demonstrate fulfilment of provisional visa obligations for each stream, refer to the DHA subclass 888 page.