What is a subclass 888 visa?
It is a permanent residence visa for business/investment streams. Persons who can apply for a subclass 888 visa for a certain business/investment stream have been in Australia while holding their provisional subclass 188 visa and met all requirements committed to the state/territory and the Department of Home and Affairs.
Streams of Business/Investment
A subclass 888 visa is the next stage of a subclass 188 visa, therefore there are 4 equivalent subclasses of subclass 888 visa:
Subclass 888A visa (stage 2 of visa 188A): Business Innovation Stream
Subclass 888B visa (stage 2 of visa 188B): Investor stream
Subclass 888C visa (stage 2 of visa 188C): Significant Investor stream
Subclass 888E visa (stage 2 of visa 188E): Entrepreneur stream
The benefits of holding a subclass 888 visa
The main visa holder and their accompanying family members are entitled to have the following attractive benefits:
| Benefits | Details |
| Residence | Can stay in Australia permanently. |
| Sponsoring relatives | Can sponsor eligible relatives to come to Australia on temporary or permanent visas. |
| Free entries | The applicant can travel to and from Australia as many times as they want for 5 years. Before the visa expires, visa holders can apply for a Resident Return visa (RRV or citizenship. |
| Education and working | Have the right to work and study as an Australian citizen. |
| Applying for Australian citizenship | Can apply to become a citizen if meet the requirements. |
Enjoy all 6 types of benefits above to help the applicant’s family improve their quality of life. To know how to get this visa, it is highly recommended to schedule a consultation with us now.
The requirements of the subclass 888 visa
Each subclass 888 visa corresponding to its subclass 188 visa has its own requirements.
| Requirements | Details | |||
| Subclass 888A | Subclass 888B | Subclass 888C | Subclass 888E | |
| Residence | At least 1 year in the 2 years | At least 2 years in the 3 years | 40 days/year (for all 3 years) | 2 years |
| An annual business turnover |
At least 300,000 AUD in the 1 year immediately before the application was made. |
Not required | At least 300,000 AUD (can choose other conditions instead) | |
| Investment |
Depending on the designation of the state or territory in Australia. |
Maintain 2,500,000 AUD investment. |
Maintain 5,000,000 AUD investment. |
200,000 AUD |
Read articles for details of each subclass: subclass 888A visa, subclass 888B visa, subclass 888C visa and subclass 888E visa.
You can contact VEM for being advised on your particular subclass visa.
Step-by-step of a subclass 888 visa application process
Step 1: Holding the subclass 188 visa and meeting the requirements for the subclass 888 visa
Step 2: Preparing documents and submitting a new Expression of Interest (EOI)
Step 3: Having the nomination approved by a state or territory government agency.
Step 4: Applying for the visa.
Step 5: Providing further documents (if required).
VEM is willing to accompany you through the whole process.
The cost of the subclass 888 visa
| Visa application charge installments | Visa costs
(not including 1.4% surcharge) |
||
|
Main applicants |
Additional applicants | ||
| Over 18 years old | Under 18 years old | ||
| First installment: the time of lodging a visa application. | 3,310 AUD | 1,660 AUD | 825 AUD |
Second installment: Additional applicants:
|
4,890 AUD | 4,890 AUD | 0 AUD |
The processing times of a subclass 888 visa
The processing time for each stream may change from time to time.
| Four distinct streams within the subclass 888 visa |
Processing times | |
| 75% of applications | 90% of applications | |
| Subclass 888A visa | 34 Months | 35 Months |
| Subclass 888B visa | Not available | |
| Subclass 888C visa | 37 Months | 38 Months |
| Subclass 888E visa | Not available | |
Make sure you submit a decision ready application. Contact VEM’s qualified migration specialist for assistance.
Tips on subclass 888 visa documents
| Documents | Details |
| Identification papers |
|
| Be nominated |
VEM clients will be specifically guided by our immigration consultant. |
| Proof of turnover | Provide evidence that can prove total turnover:
|
| Proof of investment |
|
| Proof of obligation |
|
| Documents for accompanying person (if any) |
|
Clients at VEM will be accompanied by Mr. Phong Cao who is licensed by the Australian Government (MARA), and a member of the Migration Institute of Australia.
Obligations of a subclass 888 visa applicants
Some information you must be aware of:
| Obligations | Details |
| When receiving a visa (in case of staying outside Australia) | The applicant and accompanying person need to enter Australia on the specified date (details will be notified by the Australian Government). |
| After the visa grant | Have followed Australian laws Pay Australian taxes. |
Frequently asked questions
Can I sponsor another family member holding a subclass 888 visa?
- Of course yes if they meet the requirements of a certain visa.
Can I include my 23 year old son in the subclass 888 visa application?
- Yes, if your son is also holding the subclass 188 visa.
After being granted the subclass 888 visa, do I need to maintain the same investment level as when holding the subclass 188 visa?
- It depends on subclass visa and commitment you have made with the government.
It is a permanent residence visa for business/investment streams. Persons who can apply for a subclass 888 visa for a certain business/investment stream have been in Australia while holding their provisional subclass 188 visa and met all requirements committed to the state/territory and the Department of Home and Affairs.
The applicant can make the application when they are in or out Australia.
You can travel in and out Australia for 5 years since the visa was granted. You need to apply for a Resident Return Visa if you have not become an Australian citizen.
VEM’s customers will be advised by Mr. Phong Cao on their Australian citizenship plan to limit the extension.
Absolutely, if you meet the requirements for Australian citizenship.
Contact VEM for further information.
«»
Lots of entrepreneurs/investors apply for this subclass 188A visa this year. You should complete and submit the application as soon as possible. If you need help from our licensed migration specialist – Mr. Phong Cao, contact VEM now! Moreover, we have a preferential program for this investment visa!
