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

30 Aug 2019

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 sponsoring 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.

Further information

Eligibility Criteria Accredited Sponsor Scheme, Category 5: Major Investment In Australia (131 KB)