888 Business Innovation PR Visa: Eligibility

Overview

The Subclass 888 is the permanent residence stage for holders of a provisional Subclass 188 visa who have met the business or investment requirements of their stream. Although the Business Innovation and Investment Program closed to new 188 applications on 31 July 2024, the 888 remains open to existing 188 holders. Each stream has its own test — for example the Business Innovation stream requires 2 years operating a main business with turnover of at least A$300,000, and the Investor streams require holding the investment for 4 years with minimum time in Australia — and most streams need continued state or territory nomination. Since 19 September 2026 Ministerial Direction 122 sets the processing order for 888 applications.

The 888 is the permanent payoff for the 188 — granted once you’ve met your stream’s business or investment conditions and its residence rule. The Business Innovation and Investment Program closed to new 188 applications on 31 July 2024, but existing 188 holders keep their 888 pathway. What matters now is meeting the stream test, keeping state nomination, and lodging before the 188 expires.

Which 888 stream are you in, and what must you show?

Your 888 stream matches your 188 stream (table above). The Business Innovation stream turns on 2 years of owning and managing a main business with A$300,000 turnover, asset and employment thresholds and 1 year of residence. The Investor stream requires holding the A$1.5 million designated investment for 4 years and 2 years in Australia; the Significant Investor stream the A$5 million complying investment for 4 years with 40 days a year in Australia; the Premium Investor stream the A$15 million investment for 12 months; and the Entrepreneur stream 4 years of the endorsed activity with a success measure met. The precise criteria sit in Schedule 2 of the Migration Regulations 1994 — check them against your own records before lodging.

Do you still need state nomination?

Yes for most streams. The state or territory (or Austrade for some investor streams) that nominated your 188 must support your 888. Several states revised their 888 nomination requirements after the program closed, so obtain the current nomination checklist early — it can take months to satisfy.

When should you lodge, and how is it processed?

Lodge before your 188 expires; if you will not meet the test in time, a 188 extension is available for some streams. Since 19 September 2026, Ministerial Direction 122 governs the order in which 888 applications are processed with other permanent skilled visas — it changes processing order, not the criteria. Once granted, the 888 is permanent, with full work and study rights, Medicare and a pathway to citizenship.

Fees and processing times shown above are sourced from the Department of Home Affairs and displayed with the date verified.

Who is eligible for the Subclass 888 visa?

Hold a provisional Subclass 188 visa in the matching stream (Business Innovation, Investor, Significant Investor, Premium Investor or Entrepreneur)
Have met the business ownership, turnover, employment, investment or entrepreneurial requirements of your 188 stream for the required period
Have met the residence requirement for your stream (for example 2 of the last 4 years in Australia for the Investor stream; 40 days a year for the Significant Investor stream)
Continue to be nominated by a state or territory (or Austrade for some investor streams)
Meet health and character requirements

How much does the Subclass 888 visa cost?

The base application charge is A$4,375. An additional A$2,195 applies per applicant aged 18 or over. Checked against the official Home Affairs pricing table on 29 October 2026. See every Subclass 888 stream's charge and processing time, or compare every visa on our Australian visa fees table. Fees are indexed each year — see the official Visa Pricing Estimator for the current figure.

How long does the Subclass 888 visa take to process?

Stream	75% finalised within	90% finalised within
Business Innovation	9 months	10 months
Investor	5 months	6 months
Significant Investor	6 months	8 months

Official figures as at 29 September 2026. Source: Department of Home Affairs — Global visa processing times. Compare all visas on our processing times tracker. Times are a guide only — complete, decision-ready applications are generally faster.

How do you apply for the Subclass 888 visa?

Meet the 188 conditions. Operate the qualifying business or maintain the qualifying investment for the required period, keeping within your stream's residence rule.
Evidence the requirements. Compile business activity statements, financial statements, ownership records, investment confirmations and travel records.
Confirm your nomination. Ask the nominating state or territory to confirm its support for the 888 — several states have updated their 888 nomination requirements since the program closed.
Lodge the 888. Apply for permanent residence before your 188 expires, or arrange a 188 extension if you need more time.

How it compares

888 stream	Core requirement (summary)	Residence while on the 188
Business Innovation	Own and manage a main business in Australia for at least 2 years with turnover of at least A$300,000 in the 12 months before applying, plus asset and employment thresholds	At least 1 of the 2 years before applying
Investor	Hold the A$1.5 million designated investment for 4 years	At least 2 of the 4 years
Significant Investor	Hold the A$5 million complying investment for 4 years	At least 40 days per year (or spouse 180 days)
Premium Investor	Hold the A$15 million complying premium investment for 12 months	No minimum
Entrepreneur	Operate the entrepreneurial activity for 4 years and meet a success measure	At least 2 of the 4 years

Frequently asked questions

Who can apply for the 888 visa?

Holders of a provisional Subclass 188 visa who have satisfied the business or investment requirements of their particular stream and the stream's residence requirement, and who still hold state or territory (or Austrade) nomination. The closure of the program to new 188 applications on 31 July 2024 does not affect existing 188 holders' right to apply for the 888.

What does the Business Innovation stream require?

Broadly: at least 2 years of continuous ownership and management of a main business in Australia with annual turnover of at least A$300,000 in the 12 months before applying, at least a 30% ownership interest, plus two of three further tests — net business assets of A$200,000, combined business and personal net assets of A$600,000, or two full-time Australian employees — and residence in Australia for at least 1 of the 2 years before applying. The exact criteria are in Schedule 2 of the Migration Regulations 1994 and should be checked against your circumstances.

Is the 888 permanent?

Yes. It grants permanent residence to the main applicant and included family members, with full work and study rights, Medicare and a pathway to citizenship.

What if program rules changed after I got my 188?

You are assessed against the 888 criteria that apply to your 188 stream; the closure of new 188 applications did not change those criteria. State and territory nomination policies for the 888 have changed since 2024, however, so confirm your nominating government's current requirements before you lodge.

How are 888 applications processed now?

Since 19 September 2026, Ministerial Direction 122 sets the processing order for permanent and provisional skilled visas including the 888, giving highest priority to applicants in construction, healthcare, teaching, agriculture, aquaculture, fishing, resources, law-enforcement and defence occupations, then onshore applicants. The Direction affects order, not eligibility. See the processing time shown above.

Business Innovation and Investment (Permanent) visa (Subclass 888)