Australia 888B Visa Requirements and Benefits
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What is the 888B visa?
- The 888B visa, formally the Business Innovation and Investment (Permanent) visa (subclass 888) in the Investor stream, is the permanent residence visa for investors who already hold the 188B, the provisional subclass 188 visa in the same stream.
- To move from the provisional 188B to permanent residence, you must meet the 888B visa requirements: maintain your complying significant investment and satisfy the residence requirement.
- Your spouse or partner and dependent children may be included in the visa grant.
- Once you hold permanent residence and meet the requirements, you may apply for Australian citizenship.
- The 888B requires no additional investment once you have met the requirements for moving from the 188B.
Benefits of Australian permanent residence
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Live and work in Australia
Your whole family may live, study, work and run a business anywhere in Australia.
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Permanent resident benefits
Access to Medicare, public education and social security as an Australian permanent resident, subject to the applicable eligibility rules.
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Freedom to travel to and from Australia
Permanent residents may enter and leave Australia freely while the travel facility on their permanent visa remains valid.
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A pathway to Australian citizenship
You may apply for Australian citizenship once you meet the residence, language and character requirements.
Key advantages of the 888B visa
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From provisional to permanent residence
The 888B is the step from the provisional 188B visa to Australian permanent residence once the requirements are met.
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No further investment required
The 888B requires no additional investment once you have met the requirements for moving from the 188B.
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Your family can be included
Your spouse or partner and dependent children may also be granted permanent residence.
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Pathway to citizenship
Once you hold permanent residence, you may apply for Australian citizenship when you meet the requirements.
Requirements for moving from 188B to 888B
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Maintain the investment
- Maintain the A$2.5 million (approximately US$1.76 million) complying significant investment you made for your 188B visa.
- The investment must be held for at least 3 years before the 888B can be considered.
- Program thresholds are set in Australian dollars; any conversion into another currency is indicative only and depends on the exchange rate at the time.
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Meet the residence requirement
- Be physically present in Australia for at least 2 years in total within the 3 years before the 888B is granted.
- Either the main applicant or their spouse or de facto partner may satisfy the residence requirement, as the applicable rules allow.
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Comply with Australian law
- Meet the character requirement.
- Not be involved in criminal activity or breach Australian law.
The 888B visa application process
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Maintain the investment
Keep your investment in place as required for your 188B visa and meet any additional investment or business requirements set by your nominating state or territory, where applicable.
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Submit the 888B application
Compile evidence that you meet the investment, residence and character requirements, then submit the 888B visa application.
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Grant of 888B permanent residence
Permanent residence is granted if the application meets the requirements. 888B visa processing times vary with each case and with the workload of the Department of Home Affairs.
888B visa FAQs
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