New Global Talent Scheme visa to be introduced – July 2018

The Government announced on 19 March 2018 that a new visa scheme to attract highly skilled global talent and deliver innovation to Australia will be piloted from 1 July 2018.

The Government recognises there is competition globally for high-tech skills and talent, and that attracting these people helps to transfer skills to Australian workers and grow Australian-based businesses.

The Global Talent Scheme will consist of two components:

  1. Established business stream;
  2. Start up stream.

In relation to both streams, a four year Temporary Skill Shortage visa (TSS) will be issued with permanent residence applications available after three years. The visa applicant must not have any familial relationship with directors/shareholders of the sponsor company.

If a position ceases the visa holder will have 60 days to find a new sponsor or new visa or depart Australia.

The Government will consult further on the details of the scheme over the next few months, before piloting it for 12 months, starting 1 July 2018. An industry advisory group will provide ongoing guidance for the pilot.

Established business stream

Established businesses with an annual turnover of more than $4 million (for the last 2 years), or publicly listed, will be able to sponsor highly skilled and experienced individuals (at least 3 years relevant work experience) for positions with earnings above $180,000 into Australia.

The employers will need to be able to demonstrate that they prioritise the employment of Australians and that there will be skills transfer to Australian workers as a result of the person being granted a visa. The sponsoring business must have a track record of hiring and training Australians.

·         Companies can access up to 20 positions per year

·         Labour market testing for the specific position

Start Up Stream

The Technology-based and STEM-related start-up businesses will also be able to sponsor experienced people with specialised technology skills.

STEM related fields include digital; biomedical; agtech et al.

Start-ups will need to be recognised by a start-up authority and demonstrate that they prioritise the employment of Australians.

·         Companies can access up to 5 positions per year

·         Financial criteria still to determined – possibly will relate to working capital or capital raised threshold

·         Minimum annual salary at market salary rate, but must have cash component of at least the Temporary Skilled Migration Income Threshold (currently $53,900).

Please contact Putt Legal if you wish to ascertain more details, or discuss your visa options more generally