The Global Talent Scheme (“GTS”) is a new visa scheme designed to attract highly skilled global talent and drive innovation in Australia. The one-year pilot program commenced on 1 July 2018.
There are two streams:
- Established business stream – TSS accredited business sponsors who are publicly listed or has had an annual turnover of at least $4 million for each of the past two years
- Start-up stream – start-up businesses that operate in a science, technology, engineering and mathematics (“STEM”) related field and endorsed by the independent GTS start up advisory panel. Eligible startups will be able to offer five GTS visas annually for positions with a wage of at least $80,000 (including equity, with a minimum cash component of $53,900).
Please refer to the global-talent-scheme-factsheet for further information on eligibility criteria.
To rely on the GTS, the business must demonstrate that it cannot fill positions through existing skilled visa programs such as the TSS visa, provisional and permanent skilled visas and labour agreements. Access to the GTS is by invitation only.
Once the business is approved to enter into a GTS agreement, the business may then nominate workers for a TSS visa that will be assessed under the criteria established under the agreement.
Benefits of the Global Talent Scheme Visa
Benefits of the GTS include:
- Access to highly skilled roles which will not be restricted to occupation lists;
- Visa validity of up to four years with access to a pathway to permanent residence;
- Ability to negotiate variance from standard TSS visa requirements;
- Priority given to agreement processing (6-11 business days for complete applications);
- TSS nomination and visa applications lodged under the GTS will be decided within 5 business days; and
- Negotiable age requirements on permanent residence pathway
The new scheme is largely welcomed by the technology industry. The common concern with the TSS visa was that it was far too limited, and the tighter restrictions made it increasingly difficult to attract highly specialised, global talent. The new scheme allows for businesses to hire for cutting-edge roles that are difficult to recruit under the current TSS system.