Australia to Replace the 482 Visa – A Bold Move to Attract Top Talent, Rivaling the U.S.
At the 2024 Migration Institute of Australia (MIA) National Conference, the Australian Department of Home Affairs officially announced key details of the new Skills in Demand Visa (SID 482) and National Innovation Visa (NIV 858). These two new visa programs will gradually replace the existing 482 Temporary Skill Shortage Visa and Global Talent Visa (GTI), creating a clearer skilled migration pathway while offering new permanent residency (PR) opportunities.
Skills in Demand Visa (SID): More Flexible Employer-Sponsored Pathways
The SID visa is designed to address Australia’s critical skill shortages while making application conditions more accessible and flexible. It will offer a maximum validity of four years and provide clear pathways to permanent residency. The visa will be divided into three main streams:
- Specialist Skills Stream
- Targeted at high-skilled professionals earning AUD 135,000 or more per year.
- Covers a wide range of industries except for trades, machine operators, drivers, and laborers.
- A streamlined visa pathway for top-tier talent with potential PR options.
- Core Skills Stream
- Designed to meet Australia’s key workforce needs and open up more job opportunities.
- Will feature a new Core Skills Occupation List and an income threshold ranging between AUD 73,150 – 135,000.
- Offers greater flexibility in response to current labor market demands.
- Labour Agreement Stream
- The existing Labour Agreement program will be renamed the Skills in Demand Labour Agreement Stream.
- Work experience requirement will be reduced from two years to one year, making it easier for businesses to recruit overseas talent.
Implementation Timeline
The SID visa is expected to be introduced by late 2024, at which point applications for the current 482 visa (both short-term and medium-term streams) will close. If you are planning to apply, now is the time to stay informed and adjust your migration strategy accordingly.
National Innovation Visa (NIV): A New Gateway for Elite Talent
Launched alongside the SID, the National Innovation Visa (NIV) will replace the Global Talent Visa (GTI) as Australia’s premier program for attracting top-tier international talent. The NIV, maintaining the 858 visa code, will focus on outstanding individuals in research, entrepreneurship, investment, and creative fields.
Key Target Groups
- Global Researchers and Thought Leaders
- Aimed at high-caliber academics with exceptional research credentials.
- Preference for individuals with highly cited publications or prestigious industry awards.
- Innovative Entrepreneurs
- Designed for startup founders and business leaders with state or territory government backing.
- Encourages innovation and business growth in Australia.
- Investors
- Focuses on the quality of investment rather than just the amount.
- Seeks investors who contribute meaningfully to Australia’s economic development.
- Athletes & Creative Talent
- Open to elite international athletes, artists, and innovators who represent Australia on a global scale.
Application Process
- Invitation-Based System: Applicants must submit an Expression of Interest (EOI) and receive an invitation to apply.
- This streamlined approach ensures that only high-caliber individuals gain entry.
Key Benefits of the Reform: Lower Experience & Salary Requirements
With the introduction of the SID and NIV visas, Australia is making skilled migration more flexible and accessible:
- Reduced Work Experience Requirement: The Core Skills and Labour Agreement streams of the SID visa now require only one year of work experience, making migration easier.
- More Reasonable Salary Thresholds: New income requirements provide greater flexibility, allowing professionals across various industries to match their skills with suitable salary levels.
Have Questions? Merchants Prosperity Is Here to Help!
With major changes in Australia’s migration policies, current 482 visa holders and Global Talent Visa applicants need to understand the transition period and potential impacts. The Merchants Prosperity team is here to provide you with the latest updates, expert guidance, and tailored migration solutions.
Contact us today to start planning your pathway to Australian migration success!