Businesses in Australia caution that visa reforms will hinder efforts to win over global talents

Innumerable overseas immigrant executives and professionals in the technology sector who are demanded by several firms and universities in Australia are unsure regarding their future prospects in Australia. The reason- the abolition of the Subclass 457 visas by the Conservative government of Australia. Prime Minister Malcolm Turnbull had announced the decision to abolish the visas last month and had introduced stringent rules for visas that offer permanent residency in Australia. The move was a part of populist measures by the government that is attempting to enhance its diminishing support from the public, as quoted by FT Com. However diverse businesses in Australia have cautioned the government that this will have a disastrous effect on the efforts to attract overseas talents as well as the inflow of investments to Australia. They have also given a warning to the government of Australia that the meager 23 million population of the nation is riskier in terms of skill shortages while compared with the US. National Chairman of KPMG Australia Peter Nash has said that there is a huge competition at the global level to attract highly skilled talents who can accentuate businesses and economy, something alike a war. The changes to the visas pose risk at the level of curbing the inflow of investments to Australia in sectors such as Technology and Biomedical Sciences. Several professions ranging from Geophysicists and Biochemists to Actors have been removed from the list of eligible occupations for the new visas by the government. Age limit of 45 years, higher work experience, and English language proficiency has also been introduced by the government for applicants of the permanent residency visas in Australia. On the other hand professionals such as Management Consultants, ICT project managers, and Chief Executive Officers are now entitled to visas with the validity of just two years and it can be renewed only once. They also do not offer the pathway to become permanent residents in Australia, like the 457 visas. Managing Partner of an executive search company in Sydney Heidrick & Struggles Guy Farrow has said that the visa reforms will make it tougher for the firms in Australia to hire highly talented overseas immigrants across the globe. If you are looking to Migrate, Study, Visit, Invest or Work in Australia, contact Y-Axis, the world’s most trusted Immigration & Visa Consultant.