COVID-19 UPDATE: Visas For Global Talent and Innovation To Be Cut

With the new financial year has come new rules and regulations for Visas and given the ongoing COVID-19 epidemic, even more rules and regulations are being updated on a regular basis. As part of a major amendment of Australia’s skilled migration policy, the federal government will reduce the number of business innovation and global Talent visas available starting next year. While the total number of skilled visas issued by the federal government in 2021-22 will stay the same, more employer-sponsored visas will be awarded, resulting in a steep drop in business innovation and global talent streams.

Let’s find out more about the new update on Global Talent Visa and Innovation Visa!

Global Talent and Innovation allocation cut

The federal government has recently announced a new update for the whole Business Innovation and Investment Program (BIIP) to be cut and for the brakes to be pumped on the Global Talent program until its efficacy is adequately assessed.

There was an increase in the number of Business Innovation visas, from 6,862 in 2019 to 13,500 in the current fiscal year. The Australian government will reduce this to 11,000 in 2021-22 to correspond with a change in the eligibility for the plan. Additionally, the Global Talent visa which was allocated for 15,000 people this year, the government plans to reduce this number to 11,000 by 2021-2022.

Find out more about Global Talent Visa here.

What are the other major changes?

While these business and innovation-focused streams are being cut, the number of employer-sponsored visas will be boosted from 22,000 to 23,500. Furthermore, the regional visa will be increased by 17% to 13,150 places, while the skilled independent visa will be increased by a thousand.

Why did they make these changes?

According to the Grattan Institute, people coming in on the business visa were more likely to be older, less well-educated and ultimately earned less than those coming in on other visas. While people who are nominated by employers were younger and earned more which ultimately meant they contributed more financially and would deliver financial benefit to the country. As rapid and sustained economic growth is critical for Australia’s post-COVID recovery. On the other hand, The Global Talent program is still “unproven”, the think tank said, and should be scaled back to no more than 5000 visas until there is evidence that this program is effective.

Still not sure how this can affect you? Speak to us, we are here to help!

We understand that applying for a Global Talent visa and Innovation visa are complex. It is even harder during the COVID-19 Pandemic. Our visa specialists at ONE derland Consulting will help you assess your visa options. We have a 98% success rate and are one of the most highly recommended migration agents in Australia. Read our 4.9* score customer reviews.

We are the complex visa specialists. As registered Australian migration agents with the Migration Agents Registration Authority (MARA), we are regulated in our professional practice and bound by the profession’s Code of Conduct issued by the Migration Agents Registration Authority.

Take the first step and get in touch with us. Our team members are professional, honest and speak various languages such as Mandarin/ Chinese, Bahasa Indonesia, Arabic, Japanese, Polish, German and Russian. Contact us through email at [email protected] or via phone at 1300 827 159. Alternatively, you may book your consultation online, and it is 100% refundable if you become our client.