About the Business Innovation and Investment (Permanent) visa (subclass 888C)

The Permanent Residency Visa 888C in Australia is for investors who already hold a Visa 188C (Significant Investor Visa) and wish to continue their investment or business activities in Australia. The investor's spouse and children will also be granted visas along with the primary applicant.

After obtaining Visa 888C, investors can apply for Australian citizenship once they meet all the necessary requirements.

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Time to Residency

5 years

Minimum Investment

5 million AUD

Type of Investment

Government bond investment

Visa-free Countries

Freedom of movement between Vietnam and Australia.

Benefits of Australian Visa 888C

  • The entire family can live, work, and study in all states across Australia.
  • The applicant’s children receive free education at public schools from grade 1 through to year 12.
  • Access to full healthcare and social benefits equivalent to Australian citizens, except for voting rights.
  • Freedom to travel between Vietnam and Australia
  • Eligibility to apply for Australian citizenship upon meeting all business and residency requirements.

Obligations with Australian Visa 888C

  • The applicant and accompanying family members must enter Australia by the specified date, as detailed by the Australian Government.
  • The family must adhere to all Australian regulations and laws
  • The family must fulfill all tax obligations to the Australian Government
 
 
 

Requirements for Australian Investor Visa 888C

The applicant and their family must not engage in illegal business activities and must fully comply with Australian laws.

The investor must intend to continue their investment and business activities in Australia.

The investor must reside in Australia for at least 40 days per year while the 188C visa is valid. For the spouse, the requirement is at least 180 days per year.

To maintain the 188C temporary visa, the applicant must maintain a minimum investment of 5,000,000 AUD (approximately 85 billion VND) over a period of 5 years, with specific conditions as follows:

  • A minimum of 1,000,000 AUD (approximately 17 billion VND) must be invested in venture capital funds and new or small private companies.
  • A minimum of 1,500,000 AUD (approximately 25.5 billion VND) must be invested in approved management funds for investing in emerging companies listed on the stock exchange.
  • A minimum of 2,500,000 AUD (approximately 42.5 billion VND) must be invested in balanced investment funds for investing in companies listed on the stock exchange.

The process for obtaining an Australian Significant Investor Visa 888C

  • Step 1: Ensure that the temporary 188C visa is still valid and meets all the requirements to be eligible for the 888C visa.
  • Step 2: Prepare all necessary documents and submit an Expression of Interest (EOI) for consideration.
  • Once the application is reviewed, the applicant will receive a nomination from the relevant authority or state.
  • The applicant then proceeds to submit the formal 888C visa application along with the required supporting documents.
  • If requested, the applicant should be prepared to attend an interview to verify information and conditions .

Specific processing times for the 888C visa: Approximately 75% of visas are granted within 37 months, and about 90% of visas are granted within 38 months.

Documents for applying for the 888C visa

To apply for the 888C visa, you need to prepare the following documents:

Personal Documents:

  • A passport-sized photo taken within the last 6 months
  • A copy of a valid passport
  • A valid national ID card or citizen identification card
  • Birth certificate
  • Marriage certificate (if married)
  • Documents related to name changes (if applicable)

Proof of Nomination:

  • The applicant needs to submit an application to request a new nomination from the state they have invested in or are currently investing in
  • Complete all information in Form 1414 as required

Proof of Investment:

  • Provide evidence of maintaining an investment of AUD 5,000,000 in Australia

Proof of Compliance:

  • Provide documents demonstrating that you have been and are currently engaging in legal investment and business activities in Australia.
  • Submit documentation showing that you have paid taxes in full and on time to the Australian government.

Documents/Procedures for Accompanying Family Members (if applicable):

  • Necessary personal identification documents.
  • Documents proving the relationship between the applicant and family members.
  • Health and police clearance certificates demonstrating compliance with health requirements and no criminal record.
  • IELTS certificate with a minimum score of 4.5.

Fees at the time of application

  • AUD 3,310 for the main applicant.
  • AUD 1,660 for each accompanying family member aged 18 and over.
  • AUD 825 for each accompanying family member under 18.

Additional Fees Required

  • 4,890 AUD for the main applicant.
  • 4,890 AUD for each accompanying family member aged 18 and over. 
  • 0 AUD for each accompanying family member under 18.

(This applies if the accompanying family members aged 18 and over do not meet the IELTS requirement of 4.5. The applicant has not paid this fee during the temporary 188C visa application)

Professional 888C visa assistance services

The journey from a temporary visa (visa 188C) to a permanent visa (visa 888C) is not straightforward, especially for investors who already hold a 188C visa and are under pressure to meet the requirements for progressing to the next stage.

When choosing to apply for an investment and business visa with Second Citizenship, you will receive support not only from immigration specialists but also from our leading investment partners in Australia. These partners are confident in providing expert advice and guidance in areas such as business, real estate investment, and finance.

If you need detailed information and assistance with the Significant Investor Visa 888C application process, contact Second Citizenship for the most thorough advice and support.

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