This report covers the unveiling in Australia of the new Global Talent Scheme which will be piloted from 1 July 2018, and is intended to help attract highly-skilled foreign talent and encourage innovation in Australia.
The Australian government has announced that a new Global Talent Scheme will be piloted from 1 July 2018, to attract highly-skilled global talent and deliver innovation to Australia.1
The Global Talent Scheme will be a separate visa initiative to the new Temporary Skill Shortage (“TSS”) visa program (which came into effect from 18 March 2018)2.
In this GMS Flash Alert we highlight the initial settings of the proposed Global Talent Scheme pilot, which will run for a period of 12 months.
The Global Talent Scheme will provide businesses with an important pathway to transfer highly-skilled talent to Australia albeit via an initiative that will be introduced on an initial 12-month trial basis from July 2018 to June 2019.
While it is envisaged that further refinements will be made to the scheme subject to industry stakeholder consultation, the pilot will nevertheless go some way towards alleviating concerns over the limitations of the TSS visa program in attracting highly-skilled global talent.
This would be particularly significant for Australian publically-listed companies sponsoring highly-qualified and experienced senior executives with annual earnings of AUD 180,000 and above or for Australian start-up technology companies seeking access to specialised technology personnel.
The new Global Talent Scheme is intended to help attract highly-skilled foreign talent and encourage innovation in Australia in ways that create jobs, promote business growth, and enhance the country’s position in the global economy.
Unlike the TSS visa program which is intended to facilitate the entry of foreign workers to fill temporary skill shortages on either a short- or medium-term basis, the Global Talent Scheme will specifically target and attract highly-skilled global talent to Australia in recognition of the high demand and increased competition for such talent globally.
The Global Talent Scheme will feature two distinct streams, notably, the established business and start-up streams.
Broadly, under the established business stream:
Under the start-up stream:
Importantly, both streams of the Global Talent Scheme provide the highly-skilled foreign individuals with a four-year temporary visa and affords them a pathway to Australian permanent residence after three years of employment in Australia.
The initial settings including key features, business criteria, visa applicant and position criteria for the pilot scheme, are summarised in a table in “New Global Talent Scheme Pilot Announced,” (PDF 171 KB) in Migration Newsflash (23 March 2018), a publication of the KPMG International member firm in Australia.
* Please note the KPMG International member firm in the United States does not provide immigration or labour law services. However, KPMG Law LLP in Canada can assist clients with U.S. immigration matters.
The information contained in this newsletter was submitted by the KPMG International member firm in Australia.
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