Finally, the National Innovation Visa (NIV) has replaced the Global Talent Visa (858), and by retaining its subclass number and its other legislation criteria.
On December 6, 2024, the Australian Government announced the transition of the Global Talented Visa to the New National Innovation Visa at the 2024 MIA National Conference in Brisbane. In this session, the Department of Home Affairs has highlighted significant changes to Australia’s General Skilled Migration Program.
This amendment aims to enhance Australia’s ability to attract highly talented overseas skilled workers and align the migration program with the economic priorities of Australia.
Before moving forward with the complete details, let’s have a look at the key features of NIV:
Understand Key Features of National Innovation Visa Subclass 858
Designed to attract a broad spectrum of exceptional-talented overseas individuals such as:
- Entrepreneurs
- Global Researchers and Thought-Provoking Leaders
- Innovative Investors
- Athletes and Creatives
Direct permanent residency to successful applicants.
There are no age restrictions to make it accessible to talented overseas individuals of all ages.
Flexibility means a wide range of professionals can apply for NIV.
Visa grant availability will be allocated annually through a programmed process and available by invitation only.
What is the National Innovation Visa Subclass 858?
The National Innovation Visa, which remains the same legislative criteria as the Global Talent Visa, was introduced by the Government of Australia to attract high-caliber migrants with exceptional achievements in their fields.
Background of the Story of the NIV Replacement
On May 14, 2024, the Australian Government announced its Federal Budget and the Permanent Migration Program Levels for the years 2024–2025. Under this program, 185,000 seats will be allocated for migrants, 70% of which will be set aside for skilled immigrants.
Furthermore, the budget highlighted the introduction of a new National Innovation Visa as a replacement for the Global Talent Visa and Business Innovation and Investment Visa streams by the end of 2024. The main objective of the National Innovation Visa is to “target exceptionally talented migrants who will drive growth in sectors of national importance.”
This measure marks the closure of the Business Innovation and Investment Visa Program (BIIP) and highlights the steps to address post-pandemic issues like the impact on the rental market and inflation rates. The purpose of the new National Innovation Visa is to target highly skilled migrants, including investors, entrepreneurs, and highly skilled researchers who can contribute significantly to the Australian economy.
Significant Changes After Transition of GTV to NIV
Below are the key takeaways of the 2024–25 Permanent Migration Program regarding the Australia National Innovation Visa. It was announced that:
- By July 2024, the Business Innovation and Investment visa is going to be permanently closed.
- The government will scrutinize the eligibility criteria for the National Innovation Visa to ensure stronger economic outcomes for the country.
- The Department of Home Affairs will make sure that the existing candidates under a Global Talent Visa will not be negatively impacted by this transition.
- Existing candidates will be evaluated against the eligibility requirements at the time of application submission.
- For 2024–2025, the government has lowered the limit on Global Talent visa slots from 5,000 to 4,000.
- Applications submitted under the BIIP will continue to be processed in line with the current government’s processing priorities.
- Starting in September 2024, those applicants who want to withdraw their BIIP applications can refund their application fees.
- Candidates who were interested in applying for a BIIP will now have to wait for more information to apply for the new National Innovation Visa, which will be available by the end of 2024.
Eligibility Criteria For National Innovation Visa
To apply for NIV, applicants must have an internationally recognized record of exceptional achievement in a priority sector. The Department of Home Affairs will consider your EOI only based on these outstanding achievement indicators and the NIV program priorities.
Priority Sectors Include:
- Critical Technologies,
- Health Industries,
- Renewables and Low-Emission Technologies,
- Agri-food and AgTech,
- Defense Capabilities and Space,
- Education,
- Financial Services and FinTech,
- Infrastructure Transport, and Resources
Understand Priority Orders
| Priority Orders | |
| Priority one | Top-tier candidates from any field who are global experts and winners of prestigious international awards. |
| Priority two | Candidates from any sector are nominated using the approved Form 1000 by an expert agency of the Australian Commonwealth, State, or Territory Government. |
| Priority three | Candidates with exceptional and outstanding achievements in a Tier One sector like:
|
| Priority four | Candidates who have demonstrated exceptional and outstanding achievements in the following Tier Two sectors:
|
How to apply for the National Innovation Visa?
You can apply for the NIV, which involves two stages, such as:
- Submission of an Expression of Interest ( EOI) or;
- Apply for the National Innovation Visa ( only if you receive an invitation to apply)
To Whom National Innovation Visa Will Be Granted?
The new National Innovation Visa will target those migrants who have the potential to invest in those important sectors that can significantly contribute to the Australian economy. Furthermore, the new National Innovation Visa will continue to provide a channel for highly skilled individuals in these targeted industries to share their knowledge and establish links to international markets.
When will the Proposed Commencement Period start for the National Innovation Visa (Subclass 858)?
The Department of Home Affairs is currently developing this visa, which is expected to commence before the end of 2024.
What is the Processing Fee for the National Innovation Visa?
The National Innovation Visa comes with a starting processing fee of at least $4,840.
So, the new National Innovation Visa will target those migrants who have the potential to invest in those important sectors that can significantly contribute to the Australian economy. Furthermore, the new National Innovation Visa will continue to provide a channel for highly skilled individuals in these targeted industries to share their knowledge and establish links to international markets.
Final Thoughts
Finally, Australia’s new invitation-only National Innovation visa took effect on December 6, 2024, by retaining its legislative criteria and subclass number.
In the Australian Migration program for 2024–25, 4,000 migration places were allocated to the Global Talent Visa, which means these will count toward National Innovation Visa grants in 2025.
If you meet all the criteria for subclass 858 National Innovation Visa Australia, you have a great opportunity to secure your place in Australia.
Hurry up; for professional help, consult with our migration agent now!
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I, Samavia Shahid, am a researcher and content writer at The Migration. I create easy-to-understand and informative content for people who want to move to Australia. My goal is to make the migration process simpler and less stressful for everyone.
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Samavia Shahidhttps://themigration.com.au/author/samaviashahid/
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Samavia Shahidhttps://themigration.com.au/author/samaviashahid/
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Samavia Shahidhttps://themigration.com.au/author/samaviashahid/
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Samavia Shahidhttps://themigration.com.au/author/samaviashahid/
