|Posted on December 6, 2015 at 2:30 PM|
A new entrepreneurs' visa announced today by the Australian Government as part of a raft of innovation policies is a welcome development, however it is not likely to become law until at least 2017.
This is because the innovation policies are to be taken to the next Federal election, which is not due until November 2016. Assuming the Turnbull Government is re-elected (which at this stage is likely, given the poor standing of the Opposition Leader Bill Shorten in the polls), legislation for the new visa would probably not be debated in the Parliament until the Autumn session in 2017.
Details on the new visa are at this stage sketchy, apart from mooted relaxed immigration requirements for entrepreneurs who bring innovative businesses to Australia. At this stage it is also not known whether the new visa category will replace an existing visa category, for example the 132(b) business innovation visa.
What is known however is that the Turnbull Government has placed innovation and proactive immigration policies high on their agenda.