Business Visa – Permanent (from Provisional)

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Business Innovation and Investment (Permanent) (SC 888) Visa 

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This is a Permanent Business Visa for:

This visa cannot be applied directly by overseas Business persons or Investors.

Conditions to be met for Permanent residency by SC 188 Provisional Visa Applicant

Depending on the Stream of the Business Provisional Visa held (SC 188), an applicant must meet the following basic criteria

StreamsKey requirements
Business Innovation
  • Business turnover of >A$ 300,000 in the last 12 months
  • Meet at least 2 of the following criteria:
    • Business assets of A$ 200,000 + in main business
    • Net personal and business assets worth A$ 600,000
    • Employ at least 2 Australian workers for over 12 months
Investor
  • Must have been in Australia on a SC 188 Visa for at least 2 years in the last 4 years.
  • Maintained designated investment for at least 4 years with nominating Australian State/Territory agency.
Significant Investor
  • Meet residency requirements of at least 40 days per year (calculated cumulatively) over last 4 years
  • Maintained complying investments in the designated segments over last 4 years
Premium Investor
  • Must have held the related SC 188 visa for at least 1 year
  • Must have held complying premium investments continuously for at least 1 year.
Entrepreneur
  • Must have been in Australia and held the SC 188 visa continuously for 4 years.
  • Meet at least 2 key success factors or 1 key success factor and 3 supporting success factors
  • Key success factors:
    • Employ 2 or more Australian workers
    • Annual Turnover of A$ 200,000 or more
    • Filing a provisional patent or acquiring a standard or innovation patent.
    • Receiving ongoing funding or investment for activity
    • Entering partnership with a University
    • Selling an entrepreneurial venture for A$ 2.0 million+
  • Supporting Success factors:
    • Diversifying entrepreneurial activities into other areas
    • Nominated as a successful venture by State/Territory
    • Receiving sponsorship from the corporate sector
    • Starting one or contributing two other businesses
    • Receiving formal awards or recognition
    • Raising or contributing to social capital

Who could get this visa?

  • The Business Innovation and Investment (Permanent) Visa (SC 888) is the 2nd stage of the Business Innovation and Investment (Provisional) Visa (SC 188) 
  • A successful outcome would grant Australian Permanent residency status to all members of the Family unit of the Primary applicant.
  • All family unit members must meet the health (medical) and character (Police clearances) requirement as prescribed.

Business and Investor visa applications have strict documentation and validation requirements and are complex in nature.

Please contact eMA by purchasing a MAP to discuss your specific business and investment profile and appropriate advice on the right visa for your needs.

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