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Australia's 2020-21 fiscal year quota announces increase in business investment immigration quota | Australia Immigration | JiaYu

Australia's 2020-2021 new fiscal budget and what it means for investment immigration

Last month, the Australian Government announced an immigration quota for the 2020-21 financial year, maintaining the 160,000 quota for the previous financial year, but the distribution was different, with a decline in skilled immigrants compared with last year and an increase in business investment and top talent migration. Next, let's go down the detailed numbers! As can be seen from the figure above, the quota for the allocation of migrants in the technical and commercial categories has been reduced by 27%.

Stream and Category2020-21 Quota2019-20 QuotaTrend
Skill Stream 技術及商業類簽證
Employer Sponsored22,00030,000
Skilled-Independent (189)6,50018,652
Regional Total11,20023,000
Skilled Employer Sponsored Regional未確定9,000
Skilled Work Regional未確定14,000
State/Territory Nominated (190)11,20024,968
Business Innovation & Investment program (188/132)13,5006,862
Global Talent Independent program (GTI)15,0005,000
Distinguished Talent (858)200200
Skill Total79,600108,682
Family Stream
Partner72,30039,799
Parent4,5007,371
Other Family500562
Family Total77,30047,732
Special Eligibility100236
Child
*There is no upper limit for the expected figure
3,0003,350
Total160,000160,000

As can be seen from the chart above, the quota for the allocation of technical and commercial migrants has been reduced by 27%, while the number of skilled migrants - including 189, 190, and visas in remote areas - has been reduced, indicating that it will be more difficult and more demanding to apply for skilled migration to Australia, while the quota for the Global Talent Independent Migration Scheme (GTI) announced just last year has tripled, demonstrating the Australian Government's desire to attract more top talent overseas.

Although it is difficult for skilled immigrants to apply successfully, some occupations will be given priority by the Australian Government. More details can be found in our previous articles:

Apart from skilled immigrants, the number of business-class immigrant visas, which are also highly expected by Hong Kong people, has increased to 13,500 from 6,862 last year, an increase of about double. The Australian government's move may be an effort to attract more overseas funding to save the affected economy.

The quotas for spouses, family migrants and so on have small bands, and the total number of quotas is still higher than last year.

Will immigration plans and policies be affected if the covid outbreak in Australia hits again?

The Australian Government has stated that immigration has always played a key role in Australia's economic development and the maintenance of social stability, and the Government has been paying close attention to visa adjustments. As the travel ban affects people from all over the world to come to Australia for visas, the Australian Government is actively formulating more flexible measures to deal with the situation, and immigration policy adjustments need to consider efforts to protect the employment of local Australian residents, support business development and promote economic recovery.

It is worth noting that the Australian Government has indicated that the relevant quotas are only reference figures and that the actual figures and circumstances will still be adjusted. Economic conditions, the impact of the epidemic, unemployment rate and other factors may be the factors affecting the allocation of quotas in the future, and we will continue to keep an eye on the latest news released by Australia.

For more immigration information, keep an eye on us or contact us for more information.

Established in Hong Kong in 2008, Jiayu is a consulting firm with rich experience and excellent reputation for providing immigration, study abroad and overseas property investment services. Our team combines lawyers, accountants, legal notarization and dozens of professional services staff, is committed to providing customers with professional services, detailed and objective analysis, attentively and carefully tailor-made for you.

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