Updates on National Innovation Visa
The Australian Government announced the launch of the National Innovation Visa (NIV) last year, aimed at attracting exceptionally talented individuals from overseas. As we approach the end of the financial year, state governments have begun releasing their own nomination criteria for this highly anticipated visa.
What is the National Innovation Visa (NIV)?
The NIV replaces both the former Business Innovation and Investment Program (BIIP) and the Global Talent Visa. Notably, the number of places available under the NIV program has been significantly reduced, making it one of the most competitive permanent residency pathways in Australia. It offers PR without specific age or English language requirements, but is subject to a strict priority processing framework.
Processing Priorities
Priority One – Global experts and recipients of prestigious international awards (e.g., Nobel Prize, Olympic medals). This category is expected to suit only a very small number of applicants.
Priority Two – Applicants nominated by a Commonwealth, state, or territory government agency via Form 1000. This could be the most realistic and accessible pathway for many, including investors and entrepreneurs.
Priority Three – Applicants with demonstrable outstanding achievements in Tier One industries (including Critical Technologies, Health Industries and Renewables and low emission technologies), without state nomination.
Priority Four – Applicants with achievements in Tier Two industries (including Agri-food and AgTech, Defence Capabilities and Space, Education, Financial Services and FinTech, Infrastructure and Transport and Resources), also without state nomination.
Final Priority – All other applicants.
State Nomination Developments
Both New South Wales and South Australia have now opened their NIV nomination programs, aligning with Ministerial Direction 112.
To be considered for South Australian state nomination for the NIV, the Applicant needs to have high-calibre talent and internationally recognised achievements which can contribute to the South Australian economy. This includes:
Global researchers and thought leaders
Entrepreneurs
Innovative investors
Creative Talent
Other globally talented individuals
Similarly, New South Wales will nominate candidates across five distinct pathways, including:
Academic and Researcher
Entrepreneur
Innovative Investor
Sports Professional
Creative Professional
We are closely monitoring announcements from other states, which are expected to follow shortly.
Next Steps
Regardless of the category, each applicant must be able to evidence his or her exceptional and outstanding achievement in their professional fields.
If you believe you may be eligible for the NIV, we encourage you to reach out to us for a free eligibility assessment.