PPG was commissioned to evaluate the case for including an ‘Established Talent Stream’ as part of the National Innovation Visa. Our modeling showed that introducing this innovative policy would:
Independent economic research & policy analysis.
Civic advocacy for San Francisco’s future.
Key findings at a glance
How an Established Talent Stream could support Australia’s economy
The proposed stream combines a small number of targeted visas with substantial mandatory investment requirements. The modelling indicates that this capital could flow through Australian businesses, national-priority projects, research, jobs and government revenue.
$49B
Long-term capital an Established Talent Stream could attract over the next decade
$4.9B
Capital that could flow into Australia each year
5,620
Jobs supported each year by the investment
78 SMEs
Australian SMEs supported each year through new venture capital
$690M
Annual federal tax revenue once investors become permanent residents
$161M
Annual economy-wide benefit from additional R&D funding
A small visa stream generated billions in investment
Introduced in 2012, the SIV required each applicant to make a $5 million complying investment. Despite averaging only around 300 primary visas per year, the program attracted substantial investment and generated significant fiscal contributions.
Figure 1: Investment and tax outcomes of the Significant Investor Visa, 2012–2023 ($ billion, cumulative)
The proposed NIV Established Talent Stream builds on the experience of Australia’s former Significant Investor Visa (SIV), which averaged only around 300 primary visas a year.
Mandatory complying investment
$15B+
Total investment, incl. voluntary capital
~$42B
Tax paid by SIV holders as permanent residents
$2.2B
Note: Cumulative values. Investment covers 2012–2023; tax paid is to 2022–23, as permanent residency only became available to the first SIV cohort in 2017–18. Source: PPG, Attracting Talent and Capital for a Future Made in Australia (2024).
The scale effect: The SIV accounted for only a very small share of Australia’s migration program, yet generated more than $15 billion in mandatory investment and approximately $42 billion when voluntary investment is included.
$6 million invested by each Established Talent applicant
The central scenario assumes 300 primary visas each year, with every investor committing $6 million in mandatory qualifying investment. That investment would be divided equally between Australian growth businesses and projects of national importance.
Table 1: Mandatory investment required of each Established Talent Stream investor (A$)
Investment Requirement
Allocations
Purpose
Venture capital
$3M
Growth Businesses
FMA / affordable housing
$3M
National Priorities
Total mandatory investment
$6M
Long-Term Capital
Note: Central scenario of 300 primary visas a year, each with a $6 million mandatory qualifying investment split equally between the two allocations. Source: PPG, Attracting Talent and Capital for a Future Made in Australia (2024).
Beyond the mandatory $6 million: Historical SIV behaviour indicates investors may commit substantial additional voluntary capital into managed funds, Australian companies and other domestic investments.