Business Innovation And Investment (Permanent) Visa - (Subclass 888)

Benefits of the Australian 888A Visa

• Allows the entire family to freely live, study, work, and do business in any state in Australia
• You and your family will receive all health, social security, and educational benefits similar to Australian citizens
• Flexibility in travel between Vietnam and Australia
• Upon meeting the business and residency requirements, you have the opportunity to apply for Australian citizenship, opening up new opportunities for you and your family in the country.

Obligations for holding the 888A visa

• Upon receiving the visa, the primary applicant and accompanying family members must enter Australia on the date specified in the detailed visa grant notification from the Australian Government.
• The family must fully comply with Australian legal regulations.
• Ensure the fulfillment of tax obligations as required by Australian law.

Eligibility for the Australian 888A Visa

The applicant must meet the following conditions:

Applicant competency requirements

• Establish or acquire a business in Australia and directly operate and manage that business. Additionally, the investor must hold at least 30% equity in the business.
• The business must achieve a minimum revenue of 300,000 AUD (~5.3 billion VND) for at least one year.

In the 12 months before applying, the investor must satisfy at least 2 of the following 3 conditions:

• Total personal assets and equity in the business in Australia must be at least 600,000 AUD
• Total investment value in the business in Australia must be at least 200,000 AUD
• The business must create at least 2 full-time jobs for Australian or New Zealand citizens (excluding relatives)

Residency requirements:

• Reside in Australia for at least 2 years within the 3 years prior to applying for the 888A visa.
• Fully comply with legal regulations and not engage in any unlawful activities.

Documents for applying for the 888A visa

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

Personal identification documents:

• Passport-sized photo: Must be taken within the last 6 months.
• Passport: Must be valid.
• National ID card or Citizen ID card: Must be valid.
• Birth certificate: Provide a copy.
• Marriage certificate: If applicable, provide a copy.
• Proof of name change: If you have changed your name, provide relevant documents.

Proof of nomination:

• The applicant must obtain a new nomination from the state where they have invested.
• Complete Form 1414.

Proof of minimum revenue: 300,000AUD.

Proof of investment: Provide evidence of business activities meeting the requirements.

English proficiency certificate:

If the applicant and accompanying individuals over 18 do not have an English certificate (IELTS minimum 4.5), they will need to pay an additional language fee (only if required by the Department of Immigration).

Proof of obligations: 

• Provide documentation confirming the investment made and maintained in Australia. This includes investment contracts, account statements, and financial reports from the investment fund or business.
• Provide evidence of lawful business operations, such as business licenses, employment contracts, and annual financial reports.
• Provide documentation of full tax compliance in Australia, including tax receipts, tax reports, and documents proving adherence to Australian tax obligations.

Documents for accompanying family members (if applicable)

• Provide valid copies of personal identification documents such as passport, national ID card or citizen ID card, and birth certificate. If there has been a name change, provide relevant proof.
• Provide documents proving the relationship between the applicant and accompanying family members, such as marriage certificates, joint account statements, shared rental agreements, or other documents proving cohabitation.
• Provide medical reports proving health eligibility as required by the Australian Department of Immigration. Include police clearance certificates from the national police and military service records (if applicable).
• The applicant must provide an IELTS certificate with a minimum score of 4.5 (except for the 888E visa, which requires a minimum of 6.0). If the certificate is not available, pay the additional language fee as required by the Australian Department of Immigration.

Processing time for the 888A visa

The Australian Department of Immigration usually takes about 2 years to process 888A visa applications. The specific times are as follows:

• Approximately 75% of applications are granted within 34 months
• Approximately 90% of applications are granted within 35 months