Business Innovation and Investment (Permanent) visa (subclass) 888 – Significant Investor stream
This visa is for Business Innovation and Investment (Provisional) visa holders (subclass 188) to apply for permanent residency. It allows you to stay in Queensland permanently to manage a business or investment.
Eligibility criteria
To be eligible for a Queensland nomination you must:
hold a current provisional visa (subclass 188)
show you meet the Department of Home Affairs visa eligibility criteria for the Business Innovation and Investment (Permanent) visa (subclass 888)
have met the Queensland nomination requirements of your provisional visa
register your interest in a Queensland nomination directly with Migration Queensland.
The Queensland eligibility criteria are based on your provisional visa and are different depending on when you submitted your Expression of Interest (EOI).
Evidence required
- Evidence of your genuine commitment to Queensland. This may include:
- a property purchased for a family residence in Queensland
- study in Queensland (either you or your children)
- additional investment in Queensland (e.g. investment in other innovative businesses).
- Evidence that you meet the residence requirement:
- primary applicant: 40 days x number of years you have held the provisional visa (subclass 188), or
- spouse: 180 days x number of years your spouse has held the provisional visa (subclass 188).
EOI submitted after 1 July 2021
Provide evidence you have held a Complying Investment of AUD 5 million for the entire time you held your provisional visa (subclass 188).
You may be eligible to apply for the permanent visa (subclass 888) after holding your provisional visa (subclass 188) for 3 years.
EOI submitted before 1 July 2021
Provide evidence that you have held a Complying Investment of AUD 5 million for the entire time you held your provisional visa (subclass 188).
If you applied for your provisional visa (subclass 188) on or after 1 July 2015, you may be eligible to apply for the permanent visa (subclass 888) after holding your provisional visa (subclass 188) for 4 years.
Important Information
To meet the Department of Home Affairs criteria to apply for a permanent visa (subclass 888), you must hold your Complying Investments for the entire time you held your provisional visa (subclass 188).
You must still meet the Complying Investment Framework if you change your Complying Investments.
Note:
This is not legal advice, and Migration Queensland recommends you seek advice from a registered migration agent or immigration lawyer.
Document checklist
After you receive an invitation from Migration Queensland, please submit the following documents to the document portal:
- Queensland State Nomination Application form (available for download from the Migration Queensland document portal)
- Department of Home Affairs Form 1414
- Copy of your current Australian visa
- Evidence of your investment activities (see the Department of Home Affairs document checklist)
- Summary of your current and future business or investment activities in Queensland, including:
- any additional investments made over the last 4 years, and
- your future plans for the next 2 years
- Evidence of Queensland residency (e.g. property purchase contract and settlement statement, property lease agreement, council rates, or utility bills).
Please visit the Application Process webpage for more information.