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International students of science, technology, engineering, mathematical disciplines (STEM) as well as information technology (IT) have been afforded an easier pathway to permanent residency. There are also plans to introduce a new Entrepreneur Visa at the end of 2016.
The initiative rewards international STEM or IT students, completing their masters or PhD program in Australia, with extra points. The exact breakdown of the new point system will be released at the end of the year. However, it is noted that international students of STEM and IT in Australia will be at a definite advantage to offshore applicants.
The proposed Entrepreneur Visa will grant new entrepreneurs temporary residence in the country, and depending on the success of the business, the visa holder may be eligible for permanent residency.