Australia Introduces New Innovation Visa to Attract Skilled Professionals

Australia Introduces New Innovation Visa to Attract Skilled Professionals

Highlights: Australia Launches New Innovation Visa to Attract Skilled Professionals

  • The Australian Government has introduced a New Innovation Visa aimed at attracting skilled workers.
  • This new visa will replace the Global Talent Program.
  • The Business Innovation and Investment Visa Program (BIIP) will be discontinued.
  • The government intends to address issues such as inflation and the impact on the rental market with this new initiative.

Australia's New Innovation Visa

In a recent development, the Australian government unveiled an innovation visa designed to welcome skilled professionals. This visa will replace the Global Talent Program, slated to conclude by late 2024.

The Australian immigration framework strives to draw in skilled workers and talented individuals while also monitoring the inflation rate. Treasurer Jim Chalmers highlighted recent modifications to the annual budget, aligning with Australia's broader immigration initiatives.

Discontinuation of the Global Talent Program

The Australian Golden Visa program, also known as the Global Talent Program, will come to an end. The cessation of the Business Innovation and Investment Visa Program (BIIP) will impact the route to Australian permanent residency through investment.

The Australian government plans to impose stricter regulations on student visas. Furthermore, starting from the fiscal year 2025, a ballot system will be introduced for the work and holiday visa applications from candidates originating from India, Vietnam, and China.

Foreign, News, Work, Global News, Immigration,

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