Subclass 888 · permanent stage
Business Innovation Stream
Permanent residence for 188 Business Innovation holders who built and ran a business in Australia. Ownership, management, turnover and assets are assessed over the period before you apply.
Policy update New subclass 188 applications closed on 31 July 2024. This stream remains open to existing 188 holders, and the settings shown are those the Department publishes for current applicants.
Open to 188 holdersEligibility
A business, built and run by you.
Certain subclass 444 and 457 holders can also qualify, and partners of primary holders can apply as secondary applicants.
Your 188 Business Innovation visa
You hold a 188 in the Business Innovation stream (or Business Innovation Extension stream). For invitations from 1 July 2021, you must have held it for at least three years, with one year in Australia in the three before you apply.
A stake, held to term
For the 24 months before you apply: at least 51% of a business turning over under AUD 400,000 a year, 30% at or above that, or 10% of a publicly listed company, with a direct and continuous management role.
Turnover, assets, employment
Annual turnover of at least AUD 300,000 in the last 12 months, plus two of: AUD 200,000 net business assets, AUD 600,000 net personal and business assets in Australia, or two full-time eligible Australian employees who are not family.
Nominated, lodged and registered
A current state or territory nomination, Business Activity Statements lodged with the ATO, and an Australian Business Number for each main business. No new Expression of Interest is needed.
The pathway
Four steps to a decision.
Nomination check
Your state or territory confirms the nomination is still current.
Business evidence
Ownership, management, turnover, assets and employment, documented over the assessment periods.
Lodgement
A decision-ready application, lodged with every requirement addressed.
Decision
We respond to the Department through to its decision. Permanent residence if granted.
General information only, not immigration advice. Your circumstances matter. Visa requirements, fees and processing times change regularly. Facts on this page last reviewed 15 July 2026. Check current details with the Department of Home Affairs , or speak with us for advice on your situation. Website terms.
Begin with a conversation.
Speak with a MARA-registered migration agent in Melbourne about your pathway. Book a time that suits you.