Published on : May 16, 2024
The Global Talent visa program will be replaced by a National Innovation Visa specifically targeted to attract talented foreign workers.
Australia has introduced a new National Innovation Visa for skilled workers which will replace the Global Talent Visa program. The announcement came as part of the Federal Budget delivered on Tuesday, May 14, 2024. Australia’s new innovation visa will be available from late 2024.
The overhaul of the Australian immigration system is being done for dealing with the challenges in the post-pandemic period. As per the budget announcements related to Australia immigration, the Australian government will implement a new National Innovation Visa. This will replace the existing Global Talent visa (subclass 858) program.
The Business Innovation and Investment visa program (BIIP) will cease to exist. Those who wish to withdraw their BIIP applications will be given a refund of the visa application charge provided from September 2024. The Australian budget 2024-25 has allocated AUD 1.4 million for the necessary system changes to implement the new National Innovation Visa and closure of the BIIP.
Additionally, the Australian government has also reduced the work experience requirement for the Temporary Skills Shortage (subclass 482) visa. From November 23, 2024, onwards, the work experience needed for the TSS pathway will be reduced from the existing 2 years to 1 year.
The new National Innovation Visa will replace the Global Talent (subclass 858) visa from late 2024. As per the Budget Paper No. 2 for Australia Budget 2024-25, Australia’s new innovation visa is targeted at “exceptionally talented migrants who will drive growth in sectors of national importance”.
The federal government of Australia handed down the 2024-25 budget with various announcements related to Australia immigration.
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Australia Budget 2024-25 | Immigration |
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For |
Announcement |
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National Innovation visa |
From late 2024, a new National Innovation visa will be implemented, replacing the current Global Talent visa (subclass 858) program. |
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Business Innovation and Investment visa program (BIIP) |
From September 2024, the Business Innovation and Investment visa program (BIIP) will be scrapped. |
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Temporary Skill Shortage (subclass 482) visa |
From November 23, 2024, the Temporary Skill Shortage (subclass 482) visa will have a reduced work experience requirement, from the existing 2 years to 1 year for all applicants. |
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Mobility Arrangement for Talented Early-professionals Scheme (MATES) |
From November 1, 2024, MATES will be implemented for nationals of India. 3,000 visa places will be available for Indian graduates and early-professionals in specific sectors to live and work in Australia for up to 2 years. Cost: AUD 25 to enter ballot, AUD 365 for visa application. |
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There will be a cap on the number of Australia study visa grants. The number has not been declared yet. Previously, there was no limit on student visa grants in a year. |
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International students |
Australian universities and colleges will be required to limit the maximum number of new international student enrolments in a year. For exceeding the limit, education providers will have to come up with appropriate student accommodation which is purpose-built and for international as well as domestic students. |
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Visa processing |
Increased resources will be allotted to improve visa processing and reduce backlogs. |
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185,000 Australia PR visas available in 2024-25. Of these, 132,000 (around 70%) will be for the Skilled Stream. |
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Net overseas migration |
Net overseas migration for 2024-25 forecast as 260,000 individuals. |
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Work and Holiday (subclass 462) visa program |
Introduction of a ballot process for the Work and Holiday (subclass 462) visa program for India, China, and Vietnam from 2024-25. |
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Australian Visitor (subclass 600 visa) Business Visitor stream |
Under the Australia-India Migration and Mobility Partnership Arrangement (MMPA), the Australian government has extended the maximum validity of the Australian Visitor (subclass 600 visa) Business Visitor stream for Indian nationals from the existing 3 years to 5 years. |
For complete details, contact Kansas Overseas today.
Topics: Australia
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