A preliminary plan, based on anticipated data for 2021-2022, has allocated a total of 160,000 jobs for the 2020-2021 year, of which 79,600 are in the skilled stream and 77,300 are in the family stream.
By using this strategy, the government seeks to increase flexibility while also leaving space for the government to alter strategies and plans in reaction to unexpected changes in the trajectory of COVID-19 and the economy.
The Business Innovation and Investment Visa Program’s planned levels will be set at 13,500 in 2020-2021. The Global Talent Visa Program at 15,000 and the Employer-Sponsored Visa at 22,000.
The Home Affairs Department said that the Visa categories in this skill stream would continue to serve the Australian economy after COVID-19 to assist it to recover. They mentioned that Skill flexibility would be maintained when circumstances change concerning health, the border, and the economy based on COVID-19.
For better economic recovery after the coronavirus, the federal government has fast-tracked applications for certain visa professions on the Priority Migration Skilled Occupation List (PMSOL).
While all other skilled occupation listings will remain operational, the Employer-Sponsored Visa applicants with an occupation on the PMSOL will have their applications processed earlier. Employers, business leaders, and industry organizations were engaged to assess how the new immigration requirements will affect various industries.
It looks as though the borders would stay closed until at least early 2022, thus onshore candidates may profit. So, it is unlikely that people trapped outside of Australia will have many opportunities.
The government’s long-term population planning goals, including reducing congestion in Australia’s main cities, are included in the planning for the financial year 2021-22. The government is especially interested in reducing the pressures in cities like Sydney and Melbourne, which are experiencing population growth problems. International students who presently live and work in rural and sparsely populated regions are expected to benefit from new visa opportunities.
Australia’s post-COVID-19 economic recovery will be supported by reducing the number of Business and Investment Visa categories from 9 to 4: Business Innovation, Entrepreneur, Investor, and Significant Investor.
Additionally, to ensure applicants’ expertise and ability to successfully run a new or existing company in Australia, the criteria for a Business Innovation Visa will be changed, making it more difficult for new applicants to demonstrate their business abilities.
It has been decided that a personal and business asset holding requirement of AUD 1.25 million (up from AUD 800,000) will be imposed on Business Innovation Visa holders and that an annual turnover requirement of AUD 750,000 will also be needed (up from AUD 500K).
A Registered Migration Agent in Sydney can help you further understand all the changes and how migration can be made possible with the new and improved rules. Espier Education is the best education agency in Melbourne that can help you in your immigration process and make the whole process easier for you. You can connect with us to start a discussion with our expert.
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