GTI ( Global Talent Independent ) visa updates
The enormously popular GTI visa has seen some changes in direction recently. A new “Direction 89 – Order of Consideration – Subclass 858 and Subclass 124 visas” has been introduced which mentions the changes.
The first of these changes is that the government is now accepting applicants from 10 target sectors that cover far more ground than the original list of target sectors. The previous seven target sectors were
- AgTech (the application of technology to agriculture and food production);
- FinTech (technology that seeks to improve and automate the delivery and use of financial services);
- MedTech (medical technologies and pharmaceuticals);
- Cyber Security;
- Quantum Information, Advanced Digital, Data Science and ICT;
- Space and Advanced Manufacturing; and
- Energy and Mining Technology.
The new target sectors are education, infrastructure and tourism and what is called “circular economy”, while the remaining seven areas listed below are largely an expansion of the original seven.
The remaining seven sectors are:
- Agri-food and AgTech;
- Health industries;
- Defence, advanced manufacturing and space;
- Financial services and FinTech;
They are broadly similar to the former fields, with ‘digitech’ appearing to cover what was previous ‘quantum information, advanced digital, data science and ICT, as well as cyber security. Medtech seems to have expanded to Health Industries, while Financial Services have been added to Fintech.
Circular economy is an economic system aimed at eliminating waste and the continual use of resources ( Wikipedia). The Ellen MacArthur Foundation has stated that circular economy is based on the principles of designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. Further details on what area constitute Circular economy for GTI visa are awaited.
Another change in direction is that a Masters or Bachelor graduate will now need to meet the high-income threshold requirements to be given a unique identifier. Master or Bachelor graduates can apply for GTI if they can demonstrate they have the ability to attract a salary at or above the Fair Work high-income threshold of AUD153,600. An applicant who is not a PhD Graduate is not eligible for an exemption for high-income threshold requirement.
These changes are with effect from 20 Jan 2021.
For further information or updates, contact our team of Immigration Lawyers on +61 2 8233 6191 or email email@example.com or go directly to our website on https://sellanesclark.com/