On March 19, 2018, the Australian Department of Home Affairs (DHA) announced that a new visa scheme to attract highly-skilled talent to deliver innovation to Australia will be piloted from July 2018 – June 2019.
Qualifying employers in two streams – (1) established businesses and (2) start-ups – will be able to access four-year subclass 482 (TSS) visas via streamlined applications and faster processing, with a streamlined pathway to permanent residence after three years, and no occupation list restrictions.
Businesses in both streams will have to meet the following criteria:
- Demonstration that recruitment policy gives first preference to Australian workers;
- Labour market testing for the specific positions;
- Good corporate citizenship, with no breaches of workplace or immigration law. Employees paid in accordance with an Enterprise Agreement or internal salary table that reflects current market salary rates for all occupations in the business.
- Established businesses must be publicly listed or have an annual turnover of at least AUD 4 million for each of the last two years. They can access up to 20 positions per year.
- Start-ups must operate in a Science, Technology, Engineering, and Mathematics (STEM) related field, and be endorsed by a “start-up authority” (entities for this role will be decided in consultation with industry before the pilot begins). They can access up to five positions per year.
Applicants in either stream must meet the following criteria:
- Health, character and security requirements;
- No familial relationship with directors or shareholders;
- Qualifications must be commensurate with the highly skilled role;
- At least three years’ work experience directly relevant to the position;
- Capacity to pass on skills/develop Australians.
- Applicants in the established business stream must have minimum annual earnings of AUD 180,000 per annum.
- Applicants in the start-up stream will require minimum annual earnings at the market salary rate. This can include equity but must have a cash component that is no less than the Temporary Skilled Migration Income Threshold (currently AUD 53,900 per annum).
If the position is terminated, the visa holder will have 60 days to find a new sponsor and a new visa, otherwise they must depart Australia.
Employers who may qualify for the Global Talent Scheme should stay tuned for further details before and during the twelve-month pilot.
Please note that this is general information only and not intended as advice on a specific matter. Please feel free to contact Fakhoury Global Immigration directly with questions exclusive to your situation. This news alert may have been prepared using information from Peregrine Immigration Management, which is licensed to Fakhoury Global Immigration.