Prime Minister Malcolm Turnbull’s innovation policy has included plans to encourage the best and brightest to choose Australia to start their business. A new innovation visa, which will be introduced in December next year, will be used to actively promote Australia as a destination of choice for many entrepreneurs and business people, and will serve to offer a more direct pathway to permanent residence for those with science, technology, engineering, mathematics and ICT qualifications.

The visa will be open to those with innovative ideas, and the financial backing of a third party. Prime Minister Turnbull has said that the higher-quality and more innovative they are, the more they will drive jobs and meet the demands of Australian businesses.

If the business of those entrepreneurs who have obtained a provisional visa is successful, they would gain more points towards a skilled independent visa, giving them a greater chance to gain permanent residence.

FCB Smart Visa will continue to provide updates on the new innovation policy and visa as information becomes available. If you have any migration matters that you would like to discuss, please call one of our migration agents on 02 9922 5188.