Australia introduces New Visa Scheme – an advantage for large firms or tech startups

Australia has introduced a new visa scheme which helps large firms and tech startup to take advantage of having services of talented people across the world. The motive is to offer a permanent residency to immigrant workers just after three years. The visa is known as Global Talent Scheme which is being opened on a trial basis following the expiry of the 457 visa program on 18 March.

To appear in two tranches for tech startups and renowned businesses, the new visa will be tried out from 1 July. A pathway to permanent residency will be granted to the holders of the four-year temporary skills shortage (TSS) visas after three years when the government trials the new visa for one year.

According to new visa scheme, companies with more than AUD4 million annual turnover could be sponsor highly-skilled and experienced people for a job paying over AUD 180,000 to visit in Australia.

The owner of the company will have to show the existing workers of Australia will profit through this skills transfer. In addition, the person who is sponsoring overseas immigrants will have to show proof that he or she often recruit and train locally. Moreover, STEM startups are able to sponsor experienced foreign individuals who have niche technology skills, after they are recognized by a start-up authority.

“The new visa trial will present Australia an opportunity to attract the best talent from all over the world” Innes Willox, Ai Group Chief Executive, quoted by International Business Times. He emphasis on STEM skills and niche talent and said it will be a godsend to several Australian businesses and startups, which are finding it tough to find suitable workers for these positions.

“The visa will allow the global character of businesses, and the new pilot’s emphasis on alluring talent is a win-win for ventures as well as the economy,” said Willox.

In a statement, he said that the application process, which has been permitted to be simpler and quicker, is the USP of the visa pilot, specifically because delays have been on the rise for the former 457 visa approvals.

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