What are the key requirements, costs, and processing times for Business Innovation and Investment (Permanent) visa (subclass 888)?

To be eligible for the Business Innovation and Investment (Permanent) visa (subclass 888), you must have held a subclass 188 visa and met the relevant business or investment requirements for your stream. This includes state or territory nomination for most streams, meeting residence requirements, and passing health and character checks.

The processing time for this visa is commonly 12 months or more, and the estimated cost starts from around AUD 3,000 for the main applicant. It's essential to note that these requirements and processing times are subject to change, and you should always confirm the information with official sources.

As a holder of the provisional subclass 188 visa, you can apply for the subclass 888 once you have met your business or investment obligations. This visa is the permanent residence stage, offering a pathway to live and work in Australia indefinitely.

It's crucial to ensure you meet all the requirements and follow the application process carefully to avoid any delays or issues with your application. Remember to check the official government website for the most up-to-date information on the visa requirements, processing times, and costs.