The Australian government will create a new visa to compete with other developed countries for “high-tech skills and talent”, allowing companies to sponsor migrants for jobs paying more than $180,000. Introduction of new visa is also in the pipeline. This new visa is for start-up companies seeking talent in STEM (Science Technology Engineering Math) fields like biomedicine and agricultural technology.
For both visas, a migrant must have a relevant work experience of three years and sponsor companies must demonstrate that they tried to hire Australians first.
Australian government press release states “The government recognizes there is fierce 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.”
Additionally, there won’t be any cap on the overall number of visas. However, individual companies will have a limit on number of migrants they can employ.
Businesses will be able to take up to 20 skilled migrants under the new stream per year, whereas start-ups will be able to employ five skilled migrants.
The visas for jobs paid more than $180,000 will only be available to businesses with a turnover of more than $4 million. On the other hand, the start-ups visas will be available to any authorized body after proper approval by the government.
The migrants will have a “Transitional Pathway” to permanent residence after residing three years in the country.
The further details about the scheme will be out over the next few months. The 12-month pilot begins on 1st July 2018.