An individual may apply for this 888 permanent visa if they own and have managed a business in Australia for the entire period of holding their SC188. This can be achieved through holding the 188 provisional visa for either four years in the Investor stream or two years in the Business Innovation stream. Additional specific criteria must be met.
If a person has a designated investment in a state or territory, the Investor Visa stream is the ideal option. This allows owners and investors to maintain business activities within Australia following investment growth. Certain criteria relating to business activities are assessed. The Significant Investor stream is recommended for people who are planning to invest at least AUD5 million into complying investments. This also allows owners and investors to maintain activities within Australian state or territory following investment growth.
What you can do with this visa
The Business Innovation and Investment visa SC888 is a permanent residence visa. This allows you to not only continue to manage your business and investments in Australia, but allows you and your family to remain in the country as residents.
Successful applicants and their family are entitled to:
- remain in Australia indefinitely
- study and work within Australia
- enrol in Medicare for health care and expenses
- apply for citizenship
- become a sponsor for eligible relatives looking for permanent residence.
Interested parties may request additional information regarding new pathways for migrant investors.
This is the second part of the Business Innovation and Investment visa. You can apply for it after fulfilling all the requirements for your provisional visa.
How we can help
Consultations are conducted on request either online or at our offices at an hourly rate. One of our skilled agents can guide you through the complicated process of applying for this 888 permit. We will be able to assess your eligibility and provide you with advice on what documentation is necessary for a successful application. We are determined to provide you with exceptional customer service that results in a successful migration for eligible individuals.
For more information, contact MYG Group today!