Valuation evidence for the permanent stage of the business migration program.

A business valuation for a subclass 888 visa substantiates the net business assets and business interests of a provisional visa holder's Australian main business at the permanent Business Innovation stage. Prismi prepares independent, evidence-led valuation reports that document how the net asset position was reached — methodology, adjustments and source evidence — so Home Affairs case officers and state nominators can test the figures rather than take them on trust.

When an 888 visa valuation is required

An 888 visa valuation is typically needed where balance sheet carrying values understate the true net asset position, where assets such as goodwill, plant or stock need market-value support, where interests are held through companies or trusts and the applicant's share must be traced, or where a case officer or nominator has questioned figures already lodged. The Business Innovation and Investment Program closed to new subclass 188 applications on 31 July 2024, but the permanent stage remains open to existing provisional holders — and it is at the subclass 888 stage that the financial evidence burden peaks, because Business Innovation stream applicants must prove the turnover, net asset and ownership positions of their nominated Australian main business with figures Home Affairs and the nominating state or territory will accept. Prismi prepares the valuation evidence only — we are not a registered migration agent, and visa strategy and eligibility are matters for your registered migration agent or immigration lawyer.

The Business Innovation stream thresholds

At the time of writing, the subclass 888 Business Innovation stream requires applicants to satisfy at least two of three criteria for the 12 months before applying: net business assets of at least $200,000 in the main business or businesses; combined net personal and business assets of at least $600,000; or the equivalent of two full-time employees who are Australian citizens, permanent residents or eligible New Zealand passport holders and are not family members. The first two limbs are valuation questions — net assets means assets less liabilities, and where market values diverge from book values the difference can decide whether a limb is met. Applicants must also show an annual turnover of at least $300,000 from the nominated main business or businesses in the 12 months immediately before application, alongside two years of ownership and direct, continuous management, with business activity statements lodged with the ATO for those two years. The thresholds are set by the Migration Regulations and should be confirmed against current Home Affairs criteria before lodgment.

Ownership percentage tests and how interests are counted

The Business Innovation stream applies ownership percentage tests to the main business — broadly, at least 51% where turnover is under $400,000 a year, at least 30% where turnover is $400,000 or more, and at least 10% where the business is operated by a publicly listed company — and interests held through interposed companies or trusts must be traced through the structure to the applicant's underlying share. Interests held with a spouse or de facto partner can generally be combined. This matters for the valuation: the net business asset test is assessed on the applicant's share of the business, so the report must establish both the value of the entity and the percentage and character of the interest held. Where the structure involves discretionary trusts, unpaid present entitlements or related-party loan accounts, working through who owns what is often the hardest part of the file.

State and territory nomination evidence

Subclass 888 applicants need nomination from a state or territory, and nominators run their own evidence checks before Home Affairs sees the file. Requirements differ by jurisdiction: some nominators publish their own financial evidence checklists, some ask for accountant-certified statements of financial position, and some expect independent verification where figures sit close to a threshold or where asset values rely on uplifts from book value. A valuation prepared once, to a standard that satisfies the most demanding audience in the chain, avoids the common failure mode of evidence that passes the nominator but unravels at the Home Affairs stage. We recommend confirming the current checklist for your nominating jurisdiction with your migration adviser before scoping the valuation, so the report answers the questions the nominator actually asks.

Documents the valuation needs

An 888 visa valuation draws on the nominated business's financial and ownership records, generally covering the full ownership period rather than a single year, so the report can evidence the net asset and turnover positions across the 12-month assessment window.

• ·Financial statements for the nominated business — ideally the full ownership period
• ·Business activity statements lodged for the two years before application
• ·Management accounts to the valuation date
• ·Asset register and depreciation schedule
• ·Aged debtors and creditors, stock records and work-in-progress detail
• ·Related-party loan accounts and unpaid present entitlements
• ·Share or unit register, trust deeds and any shareholder or unitholder agreements
• ·Premises lease and key contracts
• ·Payroll records where the employment limb is relied on
• ·The business plan or commitments given at the 188 nomination stage, if available

Valuation report or accountant's letter

An accountant's letter restating balance sheet values is often the first thing lodged and the first thing questioned. Book values are historical-cost figures: plant is carried at written-down value, stock at cost, goodwill usually at nil, and related-party loans at face value regardless of recoverability. Where the net asset position depends on any of those items, a case officer can reasonably ask how the figure was reached — and a letter that asserts a number without methodology gives them nothing to test. An independent valuation report states the basis of value (Market Value per IVS 104), explains the methodologies considered and the one adopted, documents each market-value adjustment with source evidence, discloses assumptions and limitations, and carries an independence statement and senior-reviewer sign-off consistent with the professional and ethical standards CA ANZ, CPA Australia and IPA members are bound by, with the working file retained and the process kept objective, recognised and replicable — the same discipline that underpins the ATO's market-valuation guidance for tax-purpose valuations. No report guarantees a visa outcome; the purpose is to make the figures verifiable rather than asserted, and it is Home Affairs and the nominating state or territory who weigh that evidence.

Which Prismi tier fits an 888 engagement

Where a single trading entity clears the thresholds comfortably and the engagement is confirmatory, the Essential tier (from $1,495 + GST, 10–14 business days) is usually sufficient. Most 888 valuations sit at the Comprehensive tier (from $3,995 + GST, 15–25 business days), which suits businesses where market-value adjustments to goodwill, plant, stock or related-party balances do real work in reaching a threshold. Files involving multiple entities, contested figures, a prior refusal or a request for further information warrant the Defensible Valuation File (from $8,995 + GST, 25–35 business days), and complex adviser-led matters can be scoped as a Valuation Range & Scenario Review (from $12,995 + GST, 30–45 business days). Additional entities are $750 each, a valuation at an additional historical date — for example, to evidence the position across the 12-month assessment window — is $495 per date, and rush turnaround is available at +30%, subject to capacity. Fees are fixed at engagement and never contingent on the concluded value.