Australian Prime Minister Malcom Turnbull has unveiled a $1 billion plan to foster greater innovation across Australia. The move is designed to boost the economy in a sector that has infinite potential, and to reduce our reliance on finite sectors such as mining. The plan, which is to be introduced next year, is targeting the expertise and ideas of foreign workers, innovators and entrepreneurs. The government’s plan includes the introduction of a new Entrepreneur Visa and increased opportunities for skilled graduates to attain permanent residency!
The proposed Entrepreneur Visa will allow those with innovative ideas to obtain permanent residency in Australia. In order to be eligible for this visa, applicants will need to start a successful business, have backing from a third party and prove that their idea is viable. To further push the bid for fresh ideas, a pathway to permanent residency will also be created for postgraduate student in STEM fields – Science, Technology, Engineering and Maths – and the ICT industry. Graduates with these qualifications will earn increased points in the Points Test for Skilled Migration.
This exciting news is undoubtedly only the beginning of many reforms to the immigration system, with Australia determined to reinvent itself on the global stage. Ride the wave while it’s high – contact us for an assessment of your eligibility for an Australian visa today!