Emigration to Australia has been impacted by Australia’s recent Federal Budget that included plans to counteract the effects of COVID-19 on immigration.
While the 2020/21 cap for the migration programme stays at 160 000 places, the balance between the incoming Skills stream and the Family stream has changed.
The number of places allocated to the Family stream has increased by 61.75%, with the majority going to Partner visas.
To finalise current applications, 75% of Partner visas are expected to go to those already in Australia. At the same time, a meticulous new application process has been established to include character checks, sponsor information and enforceable sponsorship applications, as well as English language criteria for Partner visa applicants and sponsors.
Accounting for approximately half the number of new permanent residents given entry into the country, the Skilled stream has encountered the most changes:
· The numbers of both the General Skilled Migration and Skilled Independent visas have been greatly reduced.
· In 2021, positions for both the State Nominated Skilled visa and the Skilled Work Regional visa have been almost halved. Filling the seventeen priority occupations, (eleven of which are in healthcare) is the prime objective with these skilled visas.
· The Employer-Sponsored and Provisional Business Innovation and Investment visas are now the top priority.
To assist Australia’s economic recovery, the number of places for Provisional Business Innovation and Investment visas has nearly doubled to 13 500. These visas will be given processing priority.
It is not just quantity Australia is looking for, but quality too. The criteria set out by the newly established Global Business and Talent Attraction Taskforce will affect investment and residency requirements to attract higher value investors, international businesses, and exceptionally talented business owners and entrepreneurs.
Significant changes to the Australian Business Visas are to come into effect from the 1st July 2021. If you act now, we have 5 months to lodge your business visa application under the current rules. IE proving a business and personal asset value of AUD $800,000 instead of AUD $1,25 million and showing an annual turnover of AUD $500,00 instead of AUD $750,000 to prove your business acumen.