New visa rule means 5-day turnaround time for major investors

Companies with major investments in Australia can quickly bring skilled employers into Australia to fill temporary shortages, after implementation of a change to the Accredited Sponsor Scheme for the Temporary Skill Shortage visa.

Announced in March , the scheme is accessible to companies that have invested over A$50 million in Australia. Investors must also have a track record of creating local employment and successfully sponsored other skilled migrants.

Approved companies can expect a visa turnaround time of five days.

‘By adding a new investment category to the Accredited Sponsor Scheme, the Government is recognising the significant contribution foreign investment makes to the Australian economy,’ says Lucy O’Connor, Manager, Migration & Skills, Austrade.

‘The change allows overseas companies to fast track some of their visa applications and will create more certainty and confidence for business,’ she adds.

The new visa category will benefit a broad range of overseas investors, from purchasing offices of Asia-Pacific importers, to major oil and gas companies.

Details on eligibility criteria and how to register as an Accredited Sponsor are available on the Department of Home Affairs website.

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