Global Talent Scheme Pilot Program to attract the best global talent to Australia
The Department of Home Affairs’ (DOHA) new visa pathway into Australia became effective July 1, 2018 as part of their new Global Talent Scheme (GTS) pilot program.
The pilot program will initially run for 12 months, and deliver more flexible arrangements for attracting global talent with exceptional skills, when there are no suitable Australians to fill uniquely specialized positions.
The GTS provides faster processing and more flexible concessions, with the opportunity to help grow businesses and create more jobs. Approved businesses must first, however, meet specific criteria and requirements as part of the preliminary process to be considered for the GTS.
All business sponsors under the scheme must hold TSS Accredited Sponsor Status, and are required to meet financial eligibility criteria, salary minimums, and relevant labour market testing to demonstrate their inability to source suitable candidates in the Australian market.
They are also required to be publicly listed or prove a minimum annual turnover of $4 million for each of the past 2 years, and demonstrate their undertaking to the Government throughout the length of the agreement to promote skills transfer to, and create jobs for, Australians.
Nominees must earn equivalent to the Fair Work High Income Threshold (A$145,400 as of 1 July 2018) per year, and have a minimum of three years’ experience relevant to the job role.
Approved specialists will have access to the Temporary Skills Shortage – Global Talent Visa for up to 4 years, and be eligible to apply for permanent residence after three years. Age cap concessions will apply for Permanent Residency.
Benefits of this rare scheme are that approved businesses will be in a position to sponsor workers with niche skills that can’t be obtained under other visa streams – in particular within the short-term or medium-term streams of the standard Subclass 482 visa program. Access to the GTS is not guaranteed and is by invitation only from the Australian Government under the agreement of the 482 visa.
The Scheme includes two streams – one for established businesses and one for start-ups, which Expat will be pleased to discuss with you.
Additionally, the Federal Government is committed to the Supporting Innovation in South Australia Scheme which is currently in pilot mode. Subject to successful review, the scheme will roll out nationally in 2019 to complement existing visas for start-ups and entrepreneurs in the Business Innovation and Investment program.
Contact Expat International to discuss the finer details of these welcome new visa opportunities. We’re keen to tell you more!