Entrepreneur Stream Visa (subclass 888)

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Australia
About
Requirements
Cost of Living
Expats
Talent Migration

About

This visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream, or holders of a subclass 444 (Special Category) visa, or certain holders of a subclass 457 (Business (Long Stay) visa, stay permanently in Australia. With this visa, you can continue your business activities that you may have started under your Business Innovation and Investment (Provisional) visa, stay in Australia permanently, and work and study in Australia.
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Duration

Lifelong Month(s)

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Fees

2,10

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P. Residency

5 years

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Processing time

24 months

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COMPLEXITY

High

What are eligibility requirements for the Entrepreneur Stream Visa (subclass 888)?

17 Eligibility Requirements

  • Hold a relevant stream of the subclass 188 visa or in relation to applications for a subclass 888 visa in the Business Innovation stream, hold a relevant stream of the subclass 188 visa, or a subclass 444 (Special Category) visa, or a subclass 457 (Business (Long Stay)) visa granted in certain circumstances.
  • You can also apply if you are the secondary visa holder of a Business Innovation and Investment (Provisional) visa and your spouse or de facto partner is the primary holder of a Business Innovation and Investment (Provisional) visa in the Business Innovation stream or Business Innovation Extension stream. If your spouse or de facto partner who is the primary visa holder was invited to apply for their original Business Innovation and Investment (Provisional) visa on or after 1 July 2021, you must have held your Business Innovation and Investment (Provisional) visa for at least 3 years.
  • You must have a current nomination from a state or territory government agency. When you applied for your Business Innovation and Investment (Provisional) visa, you gave us an expression of interest. A state or territory saw your expression of interest and nominated you.
  • Own and manage a business in Australia: - For the 2 years immediately before you apply, you must have: had, and continue to have, an ownership interest in up to two main businesses in Australia; had a direct and continuous management role in that business or businesses; submitted Business Activity Statements to the Australian Taxation Office; an Australian Business Number for each of your main businesses. - For the 24 months immediately before you apply: you must own at least: 51% of the total value of a business with a turnover of less than AUD400,000 per year; or 30% of the total value of a business with a turnover of AUD400,000 or more per year; or 10% of the total value of a business that is operated by a publicly listed company.
  • If you bought your main business (or businesses) from a person who applied for or held: a Business Innovation and Investment (Permanent) visa, or a permanent business skills visa (in subclasses 890, 891, 892 or 893). At the time of the acquisition, you must show that you and that person co-owned the business for at least 1 year before you apply.
  • Your main business or businesses (or the business or businesses of your spouse or de facto partner, or of you and your spouse or de facto partner together), had an annual turnover of at least AUD300,000 in the 12 months immediately before the application was made.
  • Meet the assets and employees requirement.
  • Have followed Australian laws.
  • You might have to pay an extra charge for any dependent applicant 18 years old or older who has less than functional English. If they can't show that they have at least functional English, they will need to pay the second instalment of the visa application charge when we ask you to. They will not need to pay a second instalment if they have already paid a second instalment of the visa application charge in relation to an application for a Subclass 188 (Business Innovation and Investment (Provisional)) visa.
  • Meet the residence requirement.
  • Not have been involved in unacceptable business activities.
  • Have a realistic commitment to continuing business activities.
  • You and any family members who apply for the visa with you must meet our health requirement.
  • You and family members aged 16 years or over who apply for the visa with you must meet our character requirement.
  • Sign the Australian values statement.
  • Have no debt to the Australian government.
  • Not have had a visa cancelled or a previous application refused.

Which documents do I need to apply for the Entrepreneur Stream Visa (subclass 888)?

27 Document Required

  • Provide accurate information: you are obliged to prove your identity and provide true information with your application.
  • Identity documents: you and family members who apply for the visa with you, must provide: colour copies of the pages of your current passport showing photo, personal details, and passport issue and expiry dates. Also provide a national identity card, if you have one proof of change of name (if applicable).
  • For other relationships: provide a death certificate, divorce or separation documents, or a statutory declaration if anyone in your application has been: widowed divorced permanently separated. Also provide marriage certificates or relationship registrations for you and anyone applying for a visa in your application.
  • You need to have a current nomination from a state or territory government agency. Fill out Form 1414 Nomination - Business Skills class (306KB PDF). Then: send the form to the state or territory that nominated you the state or territory will fill out the form and send it back include the completed form with your application.
  • Commitment to your business and investment activity, provide: 1-page summary of your business or investment activities in Australia and 1-page summary of your Australian business intentions in the long-term.
  • Show us you have followed Australian laws when operating your business: this includes laws about taxation, superannuation and workplace relations, provide: a written declaration stating you have complied with the laws of the Commonwealth, and of the state or territory where your business is located and details of any time you breached the laws of the Commonwealth, and of the state or territory where your business is located.
  • Business ownership: prove to us that you have owned your main business or main businesses for the 2 years before you apply. Evidence can include: documents proving your purchase of the business; partnership agreements; trust agreements; franchise agreements; documents showing the issue, purchase or transfer of shares; registration with the Australian Securities and Investment Commission (ASIC); historical ASIC company extract.
  • Management: provide evidence that you have participated in the day-to-day management of the business for the 2 years before you apply. Evidence can include: business contracts; minutes of meetings; business communications (letters, emails); documents you initiated or authorised; independent third-party business references; documents showing your responsibility for strategic management, recruitment, price structure, business profitability or expenditure.
  • Organisational chart and business activities: provide a 1-page organisational chart for each of your nominated businesses that covers the 2 years before you apply. The chart must show: your position; staff attribution; management reporting lines; functional responsibilities. Also provide: staff rosters (if applicable); trading hours; and a description of activities and practices over a typical trading week.
  • Turnover: for the 2 years before you apply, provide: the Australian Business Number (ABN) for each business; Business Activity Statements (BAS) for each quarter for each business; evidence from the Australian Taxation Office if you were not required to provide a BAS for any quarter with supporting documents.
  • Also provide extracts from financial statements for each business, including balance sheet, profit and loss statement and notes to the accounts. Make sure: the statements cover the beginning and end of a 12-month period ending no more than 3 months before you apply; your accountant prepares the statements to Australian Accounting Standards; directors and the accountant sign the statements.
  • Employees For the 12 months immediately before applying, show us that your business had: at least 2 employees who worked for a total number of hours that was at least the total number of hours that would have been worked by 2 full-time employees. Evidence of employees should include: PAYG summaries; wage books; employee contracts; workers compensation; insurance and superannuation documents. Also prove to us that those employees are Australian citizens, permanent residents, or New Zealand passport holders. Evidence can include: passport; birth certificate; and citizenship certificate.
  • Net assets: you must provide documents to show your (or you and your partner’s) business and personal assets in Australia.
  • Cash assets: provide bank statements or term deposit certificates covering the 2 years before you apply. All bank statements must be able to identify the balances held at the beginning and end of the 12 month period covered by your business's financial statements.
  • Real estate assets: provide: evidence of ownership, such as title deeds; evidence of value, such as a valuation certificate by an accredited property valuer; mortgage statements (if applicable) showing balance of amount owed at the beginning and end of the 12-month period covered by your business's financial statements; the approval letter for the purchase from the Foreign Investment Review Board (FIRB).
  • Business assets: provide evidence of business ownership and value. You can refer us to evidence you provided for 'Business ownership' above (if applicable).
  • Personal or business loans: provide: loan agreements and loan statements showing the amount owed at the beginning and end of the 12 month period covered by your business's financial statements.
  • Stocks and bonds: provide evidence of the stocks or bonds you hold and their value at the beginning and end of the 12 month period covered by your business's financial statements. Evidence can include: share or bond registers; share or fixed interest securities certificates; debentures certificates; transfer certificates; and market value.
  • Assets held in trust: provide the trust deeds.
  • Health documents.
  • Character documents.
  • Proof of functional English.
  • Partner documents: If your partner holds a Business Innovation and Investment (Provisional) (subclass 188) visa application as your dependent partner, we do not need evidence of your relationship. If you are including a partner who does not hold a subclass 188 visa as your dependant, we need to see evidence of your partner's relationship with you along with identity and character documents and documents about other relationships. Provide: identity documents and photos; character documents; documents about other relationships (if applicable) and provide either: your current marriage certificate or enough documents to prove you have been in a de facto relationship with your partner for at least 12 months before you apply; Documents that prove your de facto relationship include: joint bank account statements; billing accounts in joint names; joint leases or mortgages; documents that show you have lived at the same address as your partner.
  • Dependants under 18 documents: for every dependent under 18 years old who is applying with you, must provide: identity documents and photos; proof of your relationship with them, like a birth or marriage certificate; and character documents (if applicable).
  • Parental responsibility documents.
  • Tell us you are getting help: to nominate someone to: receive your correspondence, use Form 956A Appointment or withdrawal of an authorised recipient (301KB PDF); provide immigration assistance, use Form 956 Appointment of a registered migration agent, legal practitioner or exempt person (225KB PDF). Upload your written notification or your forms to ImmiAccount.
  • Prepare your documents: having all non-English documents translated into English; and scan or photograph all documents (English and non-English) in colour, clear and save it all as one file..

Talent Migration data for Australia

Talent gain & drain map of 2015-2019 data. Sourced from World Bank Digital Development Data.

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