The current Business Innovation and Investment Program commenced in 2012 and significant changes have been introduced in July 2021 to increase entry requirements. For the current 2021/2022 program year (to June 2022) the program planning levels have been doubled and an intention expressed to decrease processing times and attract overseas business skills.
General Skilled Migration is a successful program that allows applicants to apply for residence in Australia, either directly or in stages, based upon employability factors such as age, qualifications, work experience, English competency etc. A points test is used to weigh up these factors and the total score is a major consideration in determining eligibility.
The most significant aspect for most applicants is that there is no requirement for a job offer in Australia. The vast majority of employers in Australia don’t intend sponsoring foreign workers and this is only encouraged where genuine shortages exist in the local labour market. General Skilled Migration allows an applicant to obtain the right to live and work in Australia, travel to Australia, and then seek work as a local employee.
The Global Talent Independent program was announced in 2018 and is designed to attract skilled migrants at the top of their profession to Australia.
Previously the planning level was 5,000 places - this has been increased to 15,000 for both the 2020-2021 and 2021-2022 program years. In addition to the increase in places for this program, applicants receive priority processing and direct permanent residence.
The target sectors for this program are:
- Resources
- Agri-food and AgTech
- Energy
- Health Industries
- Defence, Advanced Manufacturing and Space
- Circular Economy
- DigiTech
- Infrastructure and Tourism
- Financial Services and FinTech
- Education