New Entrepreneur Visa, extra points for STEM and ICT graduates will be introduced by the end of this year.
In a bid to support innovation and entrepreneurship in Australia, Australian government is planning to enhance the current visa system through a range of new visas.
This decision was shared by the government on their website for National Innovation and Science Agenda (NISA).
The Entrepreneur Visa will be introduced in November 2016 and the enhanced permanent visa pathway for STEM postgraduate research graduates will be implemented in December 2016.
Australia wants to attract the best and brightest entrepreneurial talent and skills to Australia and plans to do so by improving the visa system.
Australian Government plans to enhance the current visa system through:
- A new Entrepreneur Visa for entrepreneurs with innovative ideas and financial backing.
- Pathways to permanent residence for postgraduate research graduates with STEM and ICT qualifications will be enhanced.
- Australian doctorate-level and masters by research qualifications in STEM and specified ICT or related fields will be awarded extra points under the Points Tested Skilled Migration programme to strengthen their pathway to permanent residence.
NEW ENTREPRENEUR VISA:
Under the National Innovation and Science Agenda (NISA), a new Entrepreneur visa with a pathway to permanent residency will be established for entrepreneurs with innovative ideas and financial backing from a third party.
This visa will:
- Be a provisional visa for individuals who have obtained capital backing from a third party to develop entrepreneurial ideas in Australia.
- Be established as a new stream within the existing Business Innovation and Investment (Provisional) visa (subclass 188) and the Business Innovation and Investment (Permanent) visa (subclass 888).