Business Innovation and Investment (Permanent) visa 888
Only for people who already hold the provisional business innovation and investment visa.
Closed to new applicants
Who it is for
Existing holders of the provisional business innovation and investment visa. The Business Innovation and Investment Program closed permanently to new applications on 31 July 2024. Only extension streams and this permanent visa remain for current holders. Business people without that visa should look at the National Innovation visa or employer and skilled visas.
Main requirements
- Hold the provisional business visa and a current state or territory nomination.
- Business Innovation stream: 2 years owning and managing an Australian business, turnover of at least A$300,000 in the last 12 months, and asset or employee tests.
- Residence in Australia as set for your stream; compliance with Australian laws; functional English or second instalment.
Where you apply from
In or outside Australia (not in immigration clearance).
Streams
- Business Innovation
- Investor
- Significant Investor
- Premium Investor
- Entrepreneur
Your journey, step by step
From the first enquiry to the decision and after, with how a registered migration agent helps at each step. No step promises an outcome.
- Readiness review
Check ownership, turnover, assets, employees and residence.
How a registered migration agent helpsA registered migration agent reviews readiness honestly. - Service agreement
Before any personal advice or preparation, you receive a written service agreement and the OMARA Consumer Guide.
How a registered migration agent helpsA registered migration agent sets out the work, the fee and the refund policy in writing. No money is taken for visa work before the agreement is signed. - Nomination
The state confirms the nomination is current.
How a registered migration agent helpsA registered migration agent coordinates with the state. - Lodge
Lodge with business and residence evidence.
How a registered migration agent helpsA registered migration agent prepares the evidence. - Permanent residence
Citizenship when eligible.
How a registered migration agent helpsA registered migration agent plans the next step.
Government charges from 1 July 2026
Paid to the Department of Home Affairs, not to us.
| Applicant or item | Charge (A$) |
|---|---|
| Main applicant | A$4,375 |
| Family member 18 or over | A$2,195 |
| Family member under 18 | A$1,090 |
| Provisional visa extension streams, main applicant | A$1,505 |
Check every charge in the Home Affairs Visa Pricing Estimator.
Processing times
Home Affairs Global visa processing times. Read 22 October 2026. A guide only, not a promise.
| Business Innovation stream | 50% in 9 months, 90% in 10 months |
|---|---|
| Investor stream | 50% in 5 months, 90% in 6 months |
Common refusal reasons
- Turnover or asset tests not met.
- Ownership or management not continuous.
- Residence not met.
- Nomination not current.
- Tax or workplace law breaches.
Document checklist
Tick items as you gather them. Your ticks stay on this device only.
- Business
- Other
Recent and upcoming changes
- 31 July 2024
The program closed permanently to new applications. We do not lodge new applications in it.
Talk it through before you apply.
The first 15 minutes are free and general. Personal advice starts after a written service agreement.
Information checked 22 October 2026. General information only, not advice for your situation. Rules and charges change; check the official sources before you act.