The changes have come into effect on 10th September with the Department of Immigration also announcing a new visa for entrepreneurs.
Making an important change in the points test for the Skilled Migration Program, Australia will now give five additional points to students of Australian institutions.
The additional points will be available for students with doctorate-level and masters by research qualifications in science, technology, engineering, mathematics and information and communication technology fields. This change has come into effect on 10 September.
The change is a part of the visa changes being brought under the National Innovation and Science Agenda in order to attract the “best and the brightest” skilled people to Australia.
New Entrepreneur visa is available now
Under the Business Innovation and Investment Programme, applications for the new Entrepreneur visa are being accepted now.
This new visa will allow entrepreneurs with $200,000 in funding from specified third party to develop and commercialise their innovative ideas in Australia. The visa provides a pathway to permanent residency in Australia.
To be eligible for the Entrepreneur visa, you must:
- be under 55-years-old
- have a competent level of English
- have an agreement in place for at least $200,000 to grow your entrepreneurial venture in Australia
- hold at least 30 percent interest in that entrepreneurial venture
- be nominated by a state or territory government.
Applicants can secure funding from Commonwealth agencies, state, and territory government, publically funded research organisations, investors registered as a venture capital limited partnerships or early stage venture capital limited partnerships or any combination of these.
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