Australia's National Innovation Visa (NIV)

Australia's National Innovation Visa (NIV), officially known as the Subclass 858 visa. Introduced in December 2024, the NIV replaced the Global Talent and Business Innovation and Investment visas. This permanent visa is designed to attract exceptionally talented individuals who can significantly contribute to Australia's economic growth and innovation. 

Eligibility: Applicants must have an internationally recognized record of exceptional and outstanding achievement in areas such as a profession, sport, the arts, or academia and research.
 

Nomination Requirement: Candidates must be nominated by an Australian citizen, permanent resident, eligible New Zealand citizen, Australian organization, or an Australian government agency with a national reputation in the applicant's area of talent.
 

Invitation-Only Application: Prospective applicants are required to submit an Expression of Interest (EOI). If successful, they will receive an invitation to apply for the visa.
 

Priority Processing: The Department of Home Affairs processes applications based on a priority system:

1. Recipients of internationally prestigious awards (e.g., Nobel Prize, Olympic gold medalists).
2. Individuals nominated by Australian government agencies.
3. Applicants with exceptional achievements in critical sectors like critical technologies, health industries, and renewable and low-emission technologies.
4. Candidates with significant achievements in sectors such as agri-food and ag-tech, defense capabilities and space, education, financial services and fintech, infrastructure and transport, and resources.

• Permanent Residency: The visa grants permanent residency status, allowing holders to live, work, and study in Australia indefinitely. 
• Family Inclusion: Applicants can include eligible family members in their application. 
• Access to Services: Visa holders can enroll in Australia's public healthcare scheme, Medicare, and may be eligible for other social services. 

The NIV aims to attract top-tier talent to Australia, fostering innovation and contributing to the nation's long-term prosperity. For a detailed overview of the eligibility criteria and application process, you can refer to the official Australian Department of Home Affairs website.