The National Innovation visa (NIV) (Subclass 858) is designed to attract high calibre talents including researchers, entrepreneurs, investors, athletes, and creatives.
The NIV will replace the Global Talent (Subclass 858) visa in providing a unique pathway for highly skilled individuals.
National Innovation (NIV) (Subclass 858) visa
The National Innovation visa is aimed at targeting “exceptionally talented migrants who will drive growth in sectors of national importance”.
The program is expected to be an “invite-only” program combining the two programs that it will replace, the “Business Innovation and Investor Program” and the Global Talent visa.
What can we expect from the National Innovation visa?
Our expectation at this time is that this visa will confer immediate permanent residence and have criteria that predominantly mirrors that of the Global Talent visa.
1) Global researchers and thought leaders;
2) Entrepreneurs
3) Innovative Investors (focused on quality of investments rather than thresholds)
4) Athletes/Creatives
What is the Global Talent visa (and GTI program)?
The Global Talent (Subclass 858) visa offered permanent residency to individuals who amongst other things, could demonstrate an “internationally recognised record of exceptional and outstanding achievement” in an eligible area.
Originally commencing as a visa to attract highly talented individuals in a profession, sport, arts, or academia/research, these candidates then fell under the “Distinguished Talent” stream, while a different stream was created.
The Global Talent Independent (GTI) program was officially launched on 4 November 2019 to provide a streamlined, priority pathway for highly skilled and talent individuals across 10 forward focused target sectors to obtain Australian permanent residency. This program was part of the “Global Talent” initiative that the Department rolled out to support innovation in Australia, and so applicants applied for the Global Talent visa after being invited to do so, under the GTI stream.
The GT visa will continue into the 2024/25 migration year, with 4,000 spots available. However, National Innovation visas granted in 2024/25 will be counted within this allocation.