EXPLANATORY STATEMENT
Migration Act 1958
GRANTING OF BUSINESS SKILLS VISAS IN 2008/2009
FINANCIAL YEAR
(SECTION 85)
- This Instrument is made under section 85 of the Migration Act 1958 (‘the Act’).
2. Section 85 of the Act allows the Minister to determine by Gazette Notice the maximum number of the visas of a specified class or the visas of specified classes that may be granted in a specified financial year.
3. The offshore Business Skills classes EA and UR commenced in March 2003. The Business Skills program aims to attract to Australia skilled and experienced business owners and investors with assets and a desire to migrate to Australia to enter into business or investment activity. Business migrants may contribute to the Australian economy by generating employment, exporting Australian goods and services, producing goods and services in Australia, introducing new or improved technology, increasing commercial activity, developing links with the international market and through State or Territory sponsorship increasing the dispersal of business migrants across Australia.
4. The purpose of this Instrument is to impose a cap of 6650 on the number of Business Skills visas (classes EA and UR) for the 2008/2009 financial year. These visa classes are subject to visa capping because current demand exceeds the planning level set by Government for 2008-09. Once the limit for a specific financial year has been reached no further visas can be granted in that financial year. The applications of those applicants who are affected will be carried over and decided early in the 2009/2010 financial year.
5. This instrument applies to:
- applicants for Business Skills – Business Talent (Migrant)(Class EA); and
- applicants for Business Skills - Business Skills (Provisional)(Class UR).
6. This Instrument caps the offshore Business Skills visa classes ie. it will impact on persons who are not yet in Australia and who have no business activity here. In consultation with the Department of Finance and Deregulation, the Instrument does not therefore have a direct, or a substantial indirect, effect on existing Australian business or restrict competition.
7. The Instrument, IMMI 09/030, commences on 28 March 2009.