Australia has announced a new National Innovation visa that will offer skilled professionals a pathway for Australian skilled migration.
The upcoming National Innovation visa would allow talented individuals to live and work in Australia without a sponsorship from an employer or family member.
The visa will be part of Australia’s migration system overhaul and will likely be launched by the end of 2024.
Treasurer Jim Chalmers introduced the new National Innovation visa in Australia’s federal budget announcement for 2024-25.
According to the Australian government, the impending visa will target “exceptionally talented migrants who will drive growth in sectors of national importance.”
The upcoming National Innovation visa program will allow highly capable individuals with outstanding skills in target industries to:
- Utilise their skills for Australia’s economic benefit;
- Provide connections to global markets;
- Drive innovation; and
- Create local jobs in Australia.
The introduction of the new National Innovation visa will also lead to the closure of the Global Talent visa program.
The transition from the outgoing Global Talent visa to the incoming National Innovation visa program is set to be completed by late 2024.
The new budget allocated $1.4 million for system changes to transition to the upcoming visa class.
In the federal budget announcement, the Australian government reaffirmed its ongoing commitment to reform the migration system to maximise Australia’s economic benefits.
Reforming the migration system could ensure that 70 per cent of Australia’s permanent migration places are set aside for skilled workers.
