{"id":2868,"date":"2023-03-11T11:48:04","date_gmt":"2023-03-11T04:48:04","guid":{"rendered":"https:\/\/investmentaus.vemvisa.com\/?p=2868"},"modified":"2023-07-06T16:26:13","modified_gmt":"2023-07-06T09:26:13","slug":"subclass-888-visa","status":"publish","type":"post","link":"https:\/\/investmentaus.vemvisa.com\/en\/subclass-888-visa\/","title":{"rendered":"Subclass 888 Visa"},"content":{"rendered":"

What is a subclass 888 visa?<\/h2>\n

It is a permanent residence visa for business\/investment streams. Persons who can apply for a subclass 888 visa<\/a><\/strong> 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.<\/p>\n

 <\/p>\n

\"visa<\/p>\n

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Streams of Business\/Investment<\/h2>\n

A subclass 888 visa is the next stage of a subclass 188 visa, therefore there are 4 equivalent subclasses of subclass 888 visa:<\/p>\n

Subclass 888A visa (stage 2 of visa 188A): Business Innovation Stream
\nSubclass 888B visa (stage 2 of visa 188B): Investor stream
\nSubclass 888C visa (stage 2 of visa 188C): Significant Investor stream
\nSubclass 888E visa (stage 2 of visa 188E): Entrepreneur stream<\/p>\n

 <\/p>\n

The benefits of holding a subclass 888 visa<\/h2>\n

The main visa holder and their accompanying family members are entitled to have the following attractive benefits:<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n
Benefits<\/b><\/span><\/td>\nDetails<\/b><\/span><\/td>\n<\/tr>\n
Residence<\/span><\/td>\nCan stay in Australia permanently.<\/td>\n<\/tr>\n
Sponsoring relatives<\/span><\/td>\nCan sponsor eligible relatives to come to Australia on temporary or permanent visas.<\/td>\n<\/tr>\n
Free entries<\/span><\/td>\nThe 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.<\/td>\n<\/tr>\n
Education and working<\/span><\/td>\nHave the right to work and study as an Australian citizen.<\/td>\n<\/tr>\n
Applying for Australian citizenship<\/span><\/td>\nCan apply to become a citizen if meet the requirements.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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.<\/p>\n

 <\/p>\n

The requirements of the subclass 888 visa<\/h2>\n

Each subclass 888 visa corresponding to its subclass 188 visa has its own requirements.<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n
Requirements<\/b><\/span><\/td>\nDetails<\/span> <\/b><\/span><\/td>\n<\/tr>\n
Subclass 888A<\/span><\/td>\nSubclass 888B<\/span><\/td>\nSubclass 888C<\/span><\/td>\nSubclass 888E<\/span><\/td>\n<\/tr>\n
Residence<\/span><\/td>\nAt least 1 year in the 2 years<\/td>\nAt least 2 years in the 3 years<\/td>\n40 days\/year (for all 3 years)<\/td>\n2 years<\/td>\n<\/tr>\n
An annual business turnover<\/span><\/td>\n\n

At least 300,000 AUD in the 1 year immediately before the application was made.<\/p>\n<\/td>\n

Not required<\/td>\nAt least 300,000 AUD (can choose other conditions instead)<\/td>\n<\/tr>\n
Investment<\/span><\/td>\n\n

Depending on the designation of the state or territory in Australia.<\/p>\n<\/td>\n

\n

Maintain 2,500,000 AUD investment.<\/p>\n<\/td>\n

\n

Maintain 5,000,000 AUD investment.<\/p>\n<\/td>\n

200,000 AUD<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Read articles for details of each subclass: subclass 888A visa, subclass 888B visa, subclass 888C visa and subclass 888E visa.<\/p>\n

You can contact VEM for being advised on your particular subclass visa.<\/p>\n

 <\/p>\n

Step-by-step of a subclass 888 visa application process<\/h2>\n

 <\/p>\n

Step 1: Holding the subclass 188 visa and meeting the requirements for the subclass 888 visa
\nStep 2: Preparing documents and submitting a new Expression of Interest (EOI)
\nStep 3: Having the nomination approved by a state or territory government agency.
\nStep 4: Applying for the visa.
\nStep 5: Providing further documents (if required).<\/p>\n

VEM is willing to accompany you through the whole process.<\/p>\n

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\"visa<\/p>\n

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The cost of the subclass 888 visa<\/h2>\n

 <\/p>\n\n\n\n\n\n\n\n
Visa application charge installments<\/b><\/span><\/td>\nVisa costs<\/b><\/span><\/p>\n

(not including 1.4% surcharge)<\/b><\/span><\/td>\n<\/tr>\n

\n

Main applicants<\/b><\/span><\/p>\n<\/td>\n

Additional applicants<\/b><\/span><\/td>\n<\/tr>\n
Over 18 years old<\/b><\/span><\/td>\nUnder 18 years old<\/b><\/span><\/td>\n<\/tr>\n
First installment: the time of lodging a visa application.<\/span><\/td>\n3,310 AUD<\/td>\n1,660 AUD<\/td>\n825 AUD<\/td>\n<\/tr>\n
Second installment: Additional applicants:<\/span><\/p>\n
    \n
  • Who are 18 years old or older and have less than functional English (4.5 IELTS).<\/span><\/li>\n
  • Who did pay the second installment charge for their subclass 188 visa.
    \n<\/span><\/li>\n<\/ul>\n<\/td>\n
4,890 AUD<\/td>\n4,890 AUD<\/td>\n0 AUD<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

The processing times of a subclass 888 visa<\/h2>\n

The processing time for each stream may change from time to time.<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n
Four distinct streams within the subclass 888 visa<\/span><\/strong><\/span>
\n<\/span><\/td>\n		Processing times<\/b><\/span><\/td>\n<\/tr>\n
75% of applications<\/span><\/td>\n90% of applications<\/span><\/td>\n<\/tr>\n
Subclass 888A visa<\/span><\/td>\n34 Months<\/td>\n35 Months<\/td>\n<\/tr>\n
Subclass 888B visa<\/span><\/td>\nNot available<\/td>\n<\/tr>\n
Subclass 888C visa<\/span><\/td>\n37 Months<\/td>\n38 Months<\/td>\n<\/tr>\n
Subclass 888E visa<\/span><\/td>\nNot available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Make sure you submit a decision ready application. Contact VEM’s qualified migration specialist for assistance.<\/p>\n

 <\/p>\n

Tips on subclass 888 visa documents<\/h2>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n
Documents<\/b><\/span><\/td>\nDetails<\/b><\/span><\/td>\n<\/tr>\n
Identification papers<\/span><\/td>\n\n
    \n
  • Passport photos.<\/li>\n
  • Valid passport.<\/li>\n
  • Valid ID card.<\/li>\n
  • The applicant\u2019s birth certificate.<\/li>\n
  • Marriage certificate (if any).<\/li>\n
  • proof of change of name, if applicable.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Be nominated<\/span><\/td>\n\n
    \n
  • Have a current nomination from a state or territory government agency.<\/li>\n
  • Complete form 1414<\/li>\n<\/ul>\n

    VEM clients will be specifically guided by our immigration consultant.<\/td>\n<\/tr>\n

Proof of turnover<\/span><\/td>\nProvide evidence that can prove total turnover:<\/p>\n
    \n
  • Subclass 888A visa: 300,000AUD.<\/li>\n
  • Subclass 888B visa or subclass 888C visa: not required.<\/li>\n
  • Subclass 888E visa: 300,000AUD (as the case may be).<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Proof of investment<\/span><\/td>\n\n
    \n
  • Subclass 888A visa: provide evidence of business investment as committed to the State\/Territory.<\/li>\n
  • Subclass 888B visa: proof of the maintenance of 2,500,000AUD investment in Australia.<\/li>\n
  • Subclass 888C visa: proof of the maintenance of 5,000,000AUD investment in Australia.<\/li>\n
  • Subclass 888E visa: proof that the applicant’s business is invested.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Proof of obligation<\/span><\/td>\n\n
    \n
  • Prove that you are always investing and doing business legally in Australia.<\/li>\n
  • Prove that you have always paid your taxes in full to Australia.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Documents for accompanying person (if any)<\/span><\/td>\n\n