On 14 May 2024, the Australian Government announced that a new National Innovation Visa (NIV) would be released in late-2024, to replace the Global Talent (Subclass 858) visa and the Business Innovation and Investment Program (BIIP). It commenced on 7 December 2024 mirroring a lot of the features of the former Global Talent Visa.
What is the National Innovation visa?
The NIV aims to target individuals with an “internationally recognized record of exceptional and outstanding achievement”. It will confer immediate permanent residency. It is very broad in scope but focuses on one of the following areas:
A profession
A sport
The arts
Academia and research
Criteria
To be eligible for the NIV, the visa applicant must
still be prominent in the area
be an asset to the Australian community
demonstrate that they’d have no difficulty in obtaining employment (or being established independently) in the area; and
be nominated by either an Australian individual or organization with a national reputation in the area (see here).
Key Priorities
The EOI would remain in the system for two years, and the Department of Home Affairs will invite candidates based on their set priority order.
The NIV has four priority groups set out below, and described in further detail here.
They are:
Priority | Talent | Nominator | Sector |
One | Global experts and recipients of international ‘top of field’ level awards (Nobel prize, Olympic medal – any sector)
| Any | Any |
Two | Relevant government agency has nominated and provided business case for exceptional talent (Form 1000)
| Expert government agency | Any |
Three | Exceptional and outstanding achievements | Any | Tier 1 Sector |
Four | Exceptional and outstanding achievements | Any | Tier 2 Sector |
Benefits of NIV
The NIV is an extremely attractive option over other permanent residency visas because eligible candidates:
Candidates do not need to provide a skills assessment.
No skilled occupation list to adhere to;
Candidates are required to meet minimum points threshold
Candidates are not required to meet minimum English requirements
Do not require state or employer nomination
Can be up to 55 years are older if they can demonstrate exceptional economic benefit to Australia
There are no target sectors
Transitional Arrangements
Applications submitted before December 6, 2024, will be assessed under the previous Global Talent Visa criteria. The new regulations apply only to applications lodged on or after the implementation date.
Do you require further assistance
If you have further questions about the above, or have any other immigration related query, please get in touch with our experienced team. Contact us by email at hello@canberramigrationservices.com.au or by phone at +614517572873.
This article does not constitute legal advice or create an attorney-client relationship. Please consult an immigration professional for up to date information.