The former Labour government’s overhauled business migration program saw a 90 percent fall in visa grants to business migrants due to unrealistic criteria. A joint parliamentary inquiry, essentially set up to study the failure of Business Innovation and Investment Program (BIIP),  and make recommendations,  has heard the program is “plagued by slow processing, unpredictable outcomes and selection criteria that deter good candidates in a search for ideal, younger migrants”.

The Australian reports that only 652 visas were granted over the first 21 months of the BIIP scheme, since its introduction in 2012.  That compares with 6790 in the final year of the system it ­replaced, the Business Skills ­Program. The department, in its submission to the inquiry, indicated the plunge in applicants “will make it increasingly difficult to maintain the number of business migrants as a proportion of the overall permanent migration program”.

“While there are sufficient ­applications under the previous business skills program to guarantee the 2013-14 program, the application rate may put the delivery of the 2014-15 program in question,” the submission read.

Sydney legal firm Immigration Solutions Lawyers, in its submission, blamed the “enormous decline” in applicants to “overly onerous” selection criteria that strive for an unrealistic ideal.

“A desirable candidate is someone between 35-39 years of age with a business turnover that is not under $1 million, with at least four years business experience and who has $1.3m in assets,” it read. “However, such a candidate would be unlikely to elect Australia due to heavy government regulation, taxation, and it being a relatively small market on the very outskirts of the Pacific Rim.”

Let's start by looking at what Training Benchmark A and B are.

Training Benchmark A is a contribution of 2% of payroll expenditure (payroll is calculated on the previous 12 months operation) to an industry training fund for the training of Australian Citizens or Permanent Residents.  If there is no industry training fund then payment can be made into a recognised scholarship fund.

Training Benchmark B is evidence of spending 1% of payroll (payroll is calculated on the previous 12 months operation) on training for their employees who are Australian Citizens or Permanent Residents.  Training Providers prepare a training plan for the business to meet the training needs of that particular business.   This training plan needs to be attached to the documentation sent in to the DIBP for the purpose of demonstrating to the DIBP that the company has complied with it's training obligations.

A joint media statement from Andrew Robb – Minister for Trade and Investment, and Michaelia Cash – Assistant Minister for Immigration and Border Protection, states that "No existing occupations are being removed from the SOL, which currently lists 188 occupations that Australia needs."  Here is the full press release:

Chefs, bricklayers and wall and floor tilers will be added to the Skilled Occupation List (SOL) from July 1 to help meet the skills needs of the Australian economy, as announced today by the Minister for Trade and Investment, the Hon. Andrew Robb, and the Assistant Minister for Immigration and Border Protection, Senator the Hon. Michaelia Cash.

Minister Robb said the Australian Workforce and Productivity Agency (AWPA) works independently of government to provide annual recommendations on the composition of the SOL to ensure it responds to Australia's changing skill needs.

Rebecca Paine from NAB, London will be presenting at the Migration Agent CPD seminar in London on 15th June 2014.

Rebecca Paine proudly calls both Australia and New Zealand home after living in both countries.

Following a number of roles across Bank of New Zealand, Rebecca decided to follow the well worn path from New Zealand and moved to the United Kingdom, where she now runs National Australia Bank's UK Migrant Banking Team.

NAB's migrant banking program helps anyone who is planning to move to, invest in, study in or take a working holiday in Australia set-up their banking in Australia up to 12 months before they plan to arrive.  As someone that has first hand personal migration experience, Rebecca is well place to help clients make the financial move to Australia.

Rebecca will be discussing how NAB can assist your clients with their move, including the setting up of your personal banking accounts and connecting your clients to NAB Specialists, who are available through out Australia, before your clients depart so they can hit the ground running.  

For more information or to contact Rebecca directly please see below.


Rebecca Paine  (nèe Joils)
Business Development Manager
National Australia Bank Group Migrant, Expatriate & International Student Banking     
      
* +44 (0)141 958 7392     Clydesdale Bank House
 +44 (0)79 2050 0238     Level 3
 This email address is being protected from spambots. You need JavaScript enabled to view it.     35 Regent Street
 +44 (0)207 434 0518     London
http://www.nabgroup.com/migrantbanking     SW1Y 4ND