Business Innovation and Investment (Permanent) visa (subclass 888) – 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 for the purpose of managing a business or investment.
Eligibility criteria
To be eligible for a Queensland nomination you must:
- hold a current provisional visa (subclass 188)
- demonstrate you meet the Department of Home Affairs visa eligibility criteria for the Business Innovation and Investment (Permanent) visa (subclass 888)
- have complied with 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 your EOI submission date.
Evidence required
- Evidence of your genuine commitment to Queensland. This may include:
- purchase of a property 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 you have lived in Queensland for at least 2 years.
EOI submitted after 1 July 2021
- Provide evidence you have transferred a minimum of AUD 3 million to Queensland, including AUD 500,000 for settlement in Queensland, and hold AUD 2.5 million in a Complying Investment for the entire period of your provisional visa (subclass 188).
EOI submitted before 1 July 2021
- Provide evidence you have transferred a minimum of AUD 2.25 million to Queensland, including AUD 1.5 million of Designated Investment has been held in a Queensland Treasury Corporation (QTC) Bond for a minimum of 4 years.
- You have lived in Queensland for at least 2 of the last 4 years.
Department of Home Affairs timeframe for your visa application
If you lodged your provisional visa after 1 July 2015: you are eligible to apply for a permanent visa (subclass 888) after holding your provisional visa for at least 4 years.
If you lodged your provisional visa after 1 July 2021: you are eligible to apply for a permanent visa (subclass 888) after holding your provisional visa for at least 3 years.
Note
It is recommended you seek advice from a registered migration agent or immigration lawyer regarding your eligibility for a Queensland nomination and permanent visa (subclass 888).
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 you have held a Designated Investment of AUD 1.5 million in a QTC Bond for 4 years
- If the investment has not matured:
- Copy of certificate of inscription that was issued at commencement of investment, and
- 1-page summary statement.
- If the investment has matured:
- QTC Payment Statement for Redemption, or
- Bank statements confirming repayment of amount.
- If the investment has not matured:
- Overview of your current and future business or investment activities in Queensland, including:
- any additional investment 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.