Business Innovation and Investment (Permanent) Visa
The holder of the Business Innovation and Investment (Permanent) Visa (Subclass 888) whether they are entrepreneurs or business owners may continue their activity in Australia.
What Are The Requisites Of The Business Innovation and Investment Visa?
Below mentioned is the list of requirements for the Permanent Business Innovation and Investment Visa:
- The person must hold the provisional visa in the subclass 188.
- The age of the applicant must be less than 55.
- Score at least 65 points on the point based test.
- The business must have the turnover of at least AUD 5, 00,000 for 2 of the 4 fiscal years immediately before the application is made.
- You must not be involved in any unethical or illegal business practices.
- You must have a good record of complying with the Commonwealth laws, the laws of the state or territory in which you are operating the business.
- There must be nomination by the State or Territory.
- The applicant of the Business Innovation and Investment Visa must have genuine commitment to maintain investment in Australia.
- You and your business partner must not be involved in any illegal activity.
- Good moral and health conduct must be there.
Benefits of the Permanent business Innovation and Investment Visa
There are some great privileges that the holder of this visa can avail like:
- Indefinite right to live in Australia.
- This visa allows you to work during the stay in Australia.
- Enrollment in the Medicare’s scheme for health related care and expenses.
- If you meet certain requirements then you may get the opportunity to apply for the Australian citizenship.
- Fir five years from the date the visa is granted, you may get the advantage of leaving and again entering Australia for multiple times.
- You get the right to sponsor the relatives for the permanent residency.
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