From 1st July 2018, the government aims to introduce a new visa program for a 12 month period.
is a new scheme to attract highly skilled talent in the STEM (science, technology, engineering, and math) stream.
The program is targeted for established business streams and the start-up streams.
For both streams, a four year Temporary Skill Shortage visa will be issued with permanent residence applications available after three years.
According to Migration agent, Khurram Shehzad, the aim of this scheme is to attract highly skilled professionals in the fields related to technology such as bio-technology, robotics, and in essence STEM professionals.
“Not everyone can apply nor the business can apply until they have done the market testing and proved that there is no Australian available for this type of skillset.
There are several requirements for the businesses such as minimum annual turnover, various thresholds that have to be met.”
Minister for Citizenship and Multicultural Affairs Alan Tudge said that the new scheme is will help to attract global talent which is in high demand.
"We want to ensure that Australian businesses can access the best talent in the world, because this will underpin business growth, skills transfer and job creation," Minister Tudge said.
"At all stages, Australians are prioritised for the jobs, but where the skills and experience are not available here, we want to be able to attract talent from overseas.
Minister for Jobs and Innovation Michaelia Cash said the new scheme will particularly help Australian employers in our growing innovation sector and help them to create more Australian jobs.
"Industry figures say globally mobile, highly skilled and experienced staff can act as 'job multipliers' in Australian businesses, helping them to hire more local staff and fill critical areas of need," Minister Cash said.
Technology-based and STEM-related start-up businesses will also be able to sponsor experienced people with specialised technology skills.
Start-ups will need to be recognised by a start-up authority and demonstrate that they prioritise the employment of Australians.
