The Business Innovation and Investment (Permanent) Visa (subclass 888) is a permanent visa for individuals who hold a provisional Business Innovation and Investment Visa (subclass 188) and have met the requirements for permanent residency in Australia. The subclass 188 visa is a temporary visa that allows individuals to establish or manage a business, make a designated investment, or undertake an entrepreneurial activity in Australia.

Here’s an overview of the subclass 188 and subclass 888 visa process:

Subclass 188 Visa (Provisional):

1. Select the Stream: Choose the relevant stream among the Business Innovation stream, Investor stream, Significant Investor stream, Premium Investor stream, Entrepreneur stream, or Business Innovation Extension stream.
2. Meet Requirements: Each stream has specific requirements related to investment amounts, business turnover, assets, English language proficiency, and more. Make sure to meet the eligibility criteria for the stream you’re applying for.
3. Apply for the Subclass 188 Visa: Lodge your application for the subclass 188 visa online. You might need to submit business plans, financial documents, and other evidence to support your application.
4. Provisional Visa Granted: If your application is successful, you’ll be granted a provisional subclass 188 visa.

Subclass 888 Visa (Permanent):

1. Fulfill Obligations: During the provisional subclass 188 visa period, you need to fulfill the conditions of your chosen stream, such as maintaining your business or investment.
2. Eligibility: After meeting the requirements for permanent residency, you can apply for the subclass 888 visa.
3. Application: Lodge your application for the subclass 888 visa. You’ll need to provide evidence that you have met the requirements of your provisional visa stream.
4. Visa Granted: If your application is successful, you’ll be granted the subclass 888 permanent visa.

It’s important to note that the requirements for each stream of the subclass 188 and subclass 888 visas can be complex and might change over time. Additionally, visa processes and criteria might vary based on your individual circumstances and the stream you’re applying for.

Before making any visa application, I strongly recommend checking the official Australian immigration website or consulting with a registered migration agent to ensure that you have the most accurate and up-to-date information regarding the subclass 188 and subclass 888 visas.