888A-Business Innovation Permanent Resident Visa (Permanent Phase)

Subclass 888A - Business Innovation Permanent Visa (Permanent Phase)

Application conditions:

1. The applicant holds a 188A visa;

2. Meet health and quality requirements;

3. The main applicant of 888A can be the spouse or de facto partner of the main applicant of 188A

4. Be sponsored by the Australian state or territory government

Owned shares in an Australian business (up to 2 businesses) and participated in the day-to-day management for at least 24 months prior to submitting the application,

If the business has an annual turnover of less than 400,000 Australian dollars, you need to own at least 51% of the shares;

If the business has an annual turnover of more than or equal to 400,000 Australian dollars, you need to own at least 30% of the shares;

Employed 2 full-time Australian local employees (not direct family members of the applicant)

A business and personal net worth of at least AUD 600,000 in Australia

The net worth of the business is at least AUD 200,000

5. The annual business turnover of at least 300,000 Australian dollars (excluding GST) in the 12 months before submitting the application

6. In the 12 months before submitting the application, 2 of the following 3 conditions must be met:

7. Have lived for at least 1 year within 2 years (but need to prove that the applicant has continuously participated in the daily management of the business within 2 years)