Subclass 888 visa document checklist (Business Innovation and Investment)

The Business Innovation and Investment (Permanent) visa (subclass 888) lets holders of a subclass 188 provisional visa continue their business, investment or entrepreneurial activity and live in Australia permanently. The Business Innovation and Investment Program closed to new applications on 31 July 2024, so this visa is only for people who already hold, or in some cases held, a subclass 188 visa (and a few other eligible visas in the Business Innovation stream). This checklist is a starting point as at November 2026; confirm each item on the Home Affairs subclass 888 page and the BIIP closure page before lodging.

Streams

Each stream follows the subclass 188 stream the applicant holds. The state, territory or Austrade nomination must still be current; no new Expression of Interest is needed.

• Business Innovation stream: for holders of the subclass 188 Business Innovation or Business Innovation Extension stream, and in some cases a subclass 444 or 457 visa. Owning and managing a main business in Australia.
• Investor stream: keeping the designated investment, or the complying significant investment, made for the subclass 188 visa.
• Significant Investor stream: keeping the complying investment or complying significant investment for the whole time on the subclass 188 visa.
• Premium Investor stream: keeping the complying premium investment. Nominated by Austrade.
• Entrepreneur stream: a successful record of entrepreneurial activity in Australia.

Key numbers (as at November 2026)

• Business Innovation stream: in Australia for at least 1 year in the 3 years before applying (1 year in 2 years if invited to the subclass 188 before 1 July 2021). For the 2 years before applying, an ownership interest in up to 2 main businesses: at least 51% if turnover is under AUD 400,000 a year, 30% if it is AUD 400,000 or more, or 10% of a publicly listed company. Turnover of at least AUD 300,000 in the last 12 months, and at least 2 of: AUD 200,000 net business assets, AUD 600,000 net business and personal assets, or the equivalent of 2 full-time eligible employees.
• Investor stream: the subclass 188 visa held for at least 3 years if invited on or after 1 July 2021; a designated investment held for 4 years (3 years and 11 months for applications before 1 July 2015) if invited earlier.
• Significant Investor stream: at least 40 days in Australia for each year on the subclass 188 visa, or 180 days a year for the applicant's partner.
• Entrepreneur stream: the subclass 188 visa held continuously for at least 3 years (4 years if invited before 1 July 2021), with at least 2 years living in Australia. Success is shown by 2 key success factors, or 1 key and 3 supporting factors.

Documents from the nominator

• Form 1414: Nomination – Business Skills class, sent to the state or territory that nominated the applicant, completed by them and returned

Documents from the applicant

• Identity: colour copies of the passport bio page and national identity card, if any; evidence of any change of name
• Relationships: marriage certificates or relationship registrations, and death certificates, divorce or separation documents, or statutory declarations where they apply
• Commitment: a 1-page summary of business or investment activities in Australia and a 1-page summary of long-term Australian business intentions
• Compliance: a written declaration of compliance with Commonwealth, state and territory laws, including tax, superannuation and workplace laws, and details of any breach
• Business ownership (Business Innovation stream): purchase documents, partnership, trust or franchise agreements, share issue or transfer documents and ASIC extracts, with evidence of stamp duty paid
• Management: business contracts, minutes, correspondence, documents the applicant initiated or authorised, and third-party business references for the 2 years before applying
• Organisation: a 1-page organisational chart per business for the 2 years, staff rosters, trading hours and a description of a typical trading week
• Turnover: the ABN and every quarterly Business Activity Statement for each business for the 2 years before applying, and signed financial statements prepared to Australian Accounting Standards for a 12-month period ending no more than 3 months before applying
• Employees: PAYG summaries, wage books, employment contracts, workers compensation, insurance and superannuation records, and evidence that the employees are Australian citizens, permanent residents or New Zealand passport holders
• Net assets: a 1-page assets and liabilities summary; bank statements for 2 years; title deeds, accredited valuations, mortgage statements and FIRB approval for real estate; loan agreements and statements; share or bond registers; trust deeds
• Investment (investor streams): evidence the investment has been held for the required period, and of any transfers between investments
• Entrepreneur activity (Entrepreneur stream): evidence of each success factor claimed, such as employment of Australians, turnover, patents, funding, university partnerships or awards
• English: evidence of Functional English for each applicant 18 or over who did not pay the second instalment for their subclass 188 visa, or the second instalment when Home Affairs asks
• Character: Police certificates from each country where the applicant has spent a total of 12 months or more in the last 10 years since turning 16, including an Australian Federal Police check where it applies
• Health: Health examinations, when Home Affairs asks for them
• Partner: identity and character documents, and a marriage certificate or evidence of a de facto relationship of at least 12 months

Collect it with Immiluma

The business evidence for this visa runs to many files, so build the checklist once as a visa template in Immiluma, or ask the assistant to draft it from this page. Each matter sends it to the client's portal, the client uploads against each item, and you review each document beside it. See all visa checklists.