Highlights:
– The Government of Australia announced a New Innovation Visa to attract skilled workers.
– The new innovation visa is a replacement for the Global Talent Program.
– The Business Innovation and Investment Visa Program (BIIP) will be terminated.
– The Australian Government plans to address issues like inflation rates and the impact of the rental market.
New Innovation Visa in Australia
In a recent announcement, the Government of Australia introduced an innovation visa to invite skilled professionals. The new visa will replace the Global Talent Program, which is expected to end by late 2024.
The Australian immigration system aims to attract skilled workers and talented professionals while keeping the inflation rate in check. Treasurer Jim Chalmers reported recent changes in the annual budget, which are also part of Australia’s overall immigration program.
Termination of the Global Talent Program
The Global Talent Program or the Australian Golden Visa program will be terminated. The discontinuation of the Business Innovation and Investment Visa Program (BIIP) will affect the pathway to Australian PR through investment.
The Government of Australia is to introduce stricter rules on student visas. A ballot system will be implemented for the work and holiday visa for candidates from India, Vietnam and China from FY 2025.
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