On 19 March 2018, the day after the introduction of the TSS visa, the Government announced a new visa scheme to attract highly skilled global talent. This generated a lot of interest – in fact one could say diverted interest away from the TSS visa (!) – however it is important to note that it is a pilot scheme for 12 months, and current advice is that it will start on 1 July 2018.
- The proposed scheme has two streams:
Established businesses that are publicly listed or have annual turnover of more than $4 million for each of the past 2 years, will be are able to sponsor up to 20 positions (per year) where minimum earnings are above $180,000;
- Start-up businesses that operate in STEM-related fields and have been endorsed by a “start-up authority”, will be able to sponsor up to 5 positions (per year) where minimum earnings are at market rate and not less than the Temporary Skilled Migration Income Threshold (TSMIT, currently $53,900).
Common to both streams are the following:
- Demonstrate good corporate citizenship and a commitment to local recruitment practices;
- Labour market testing is required;
- There must be skills transfer as a result of the employment;
- Visa applicants must have at least 3 years of relevant experience;
- No age limit;
- 4 year TSS visa will be granted;
- Transitional pathway to permanent residence after 3 years.
The Government has announced that the requirements will be refined in consultation with industry and other stakeholders, ahead of the commencement of the new visa scheme on 1 July 2018.
Ajuria Lawyers plans to make a submission to the Government about this new visa, and would welcome input from clients. Please share your views with us.
DISCLAIMER This information is current as at 2 May 2018 and subject to change. The information contained in this publication is of a general nature only. It should not be used as legal advice. To the extent permissible by law, Ajuria Lawyers and its associated entities shall not be liable for any errors, omissions, defects or misrepresentations in the information or for any loss or damage suffered by persons who use or rely on such information. Liability limited by a scheme approved under Professional Standards Legislation.