The National Innovation Visa (NIV), formerly known as the Global Talent Visa (GTI), has been a topic of extensive discussion and some misconceptions. This article addresses four critical aspects:
- What were the changes implemented in December 2024?
- What is the current policy framework of this visa?
- What developments are anticipated for the NIV in 2025?
- What are the implications for individuals seeking to migrate to Australia?
Summary
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- As of 4 February 2025, the NIV is effectively the rebranded GTI visa.
- A refined application processing prioritization system has been established, emphasizing international award laureates and nominations by expert government agencies.
- Significant changes are unlikely before the upcoming election; new investment visa options may emerge toward the end of 2025.
- Prospective applicants should consider applying for the NIV now or, if interested in future investment visas, begin developing expertise in critical sectors such as technology, renewable energy, and health industries.
The change in December 2024 and the current policy setting
The Government effectively just rebrand GTI as NIV. The amendment to the 858 visa last December 2024 only made technical amendments to various parts of the Migration Regulations by replacing the words ‘Global Talent’ with ‘National Innovation’. But they did however refine the policy with two key changes: first a more refined priority system has been put in place for processing applications in the following order:
- exceptional applicants with top of field international level awards;
- applicants who are nominated by an expert Commonwealth or State or Territory Government agency on the approved Form 1000;
- applicants with exceptional and outstanding achievements in the following sectors:
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- critical technologies
- renewables and low emission technologies;
- health industries.
- applicants with exceptional and outstanding achievements in the following sectors:
- agri-food and Ag-tech;
- defence capabilities and space;
- education;
- financial services and FinTech;
- infrastructure and transport;
- resources.
- all other visa applications.
Second, they also provide further clarity with an inexhaustive list on what may be considered by the Department as top of field international level awards:
- Nobel Prizes;
- Breakthrough Prizes;
- Rousseaux Prize;
- Eni Award;
- Institution of Electrical Engineers Medal of Honor;
- Fields Medal;
- Chern Medal;
- Abel Prize;
- L’Oreal-UNESCO Award for Women in Science;
- Turing Award;
- ACM Prize in Computing;
- Pulitzer Prize;
- International Booker Prize;
- International Tchaikovsky Competition Gold Medal;
- Olympic Gold Medal;
- Laureus World Sportsman or Sportswoman of the year.
What to expect in 2025?
To secure victory in the upcoming federal election, anticipated by May 17, 2025, the current Labor administration is focusing on managing inflation and unemployment rates. Given the emphasis on maintaining favourable economic indicators, it is improbable that the Minister’s Office will introduce a new investment visa or incorporate an investment component into the National Innovation Visa (NIV) before the election, as such changes could potentially affect the government’s sound economic standing.
It is improbable that any reasonable government would decline investment capital over time, but managing multiple competing priorities inevitably demands trade-offs. Once the election is settled, the Government is likely to release the new investment visas towards the end of 2025.
Meaning for potential investment visa applicants
The Australian Government, in its strategy paper, acknowledges that over 80 percent of 188/888 visa holders are engaged in the retail and hospitality sectors and are not significantly contributing to advancements in productivity and innovation. In response, the government aims to redesign the investment visa framework to attract high-calibre migrants who can drive innovative investments in sectors of national importance or play a pivotal role in the venture capital industry.
While the Government has not explicitly stated that the National Innovation Visa (NIV) (subclass 858) will include an investment component, there is a widely accepted understanding that the NIV is replacing both the Global Talent Visa (subclass 858) and the Business Innovation and Investment Program (BIIP).
The introduction of new investment visas, likely toward late 2025, is expected to shift the focus away from passive capital investment. Instead, investors are likely to be required to demonstrate both financial capital and expertise in innovation. This means that merely creating jobs may no longer be sufficient; investors may need to actively contribute skills, technological advancements, or sector-specific knowledge.
For those in a position to invest millions of dollars for a pathway to Australian permanent residency, it may be prudent to develop expertise or managerial experience in key priority sectors such as:
- Critical technologies
- Renewable and low-emission technologies
- Health industries
As Australia’s migration system evolves, future applicants should consider aligning their investment and professional experience with these strategic national priorities to maximise their chances of success under the forthcoming investment visa framework.
[1] See the Explanatory Statement to the Migration Amendment (National Innovation Visa) Regulations 2024
[3] See: Migration (Critical Technology Kinds of Technology) Specification (LIN 24/010) 2024
[4] Underlying inflation lowest in more than 30 months, The Hon Dr Jim Chalmers MP Treasurer, 25 September 2024; ABS, 16 Jan 2025 – Unemployment rate rises to 4.0% in December – Media Release
[5] Department of Home Affairs, Migration Strategy – Getting migration working for the nation For workers. For businesses. For all Australians; p.57
[6] For example the Government put these three visas in the same paragraph in the 23/24 budget; also list “entrepreneurs” as one of the talent for the NIV on its website