How Can My Blockchain Business Hire Overseas Talent?

In Short

• Blockchain technology can streamline cross-border transactions, offering faster and more secure processes.
• Regulatory requirements vary significantly across countries, so compliance is crucial.
• Blockchain adoption can provide competitive advantages but requires careful planning and understanding of international laws.

Tips for Businesses

Before expanding your blockchain operations overseas, research and understand the regulatory landscape in your target markets. Ensure your business complies with local laws and consider how blockchain can offer efficiencies in cross-border transactions. Proper planning and legal advice can help maximise benefits and minimise risks.

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Table of Contents

• The Australian Immigration Framework
• Which is the Best Approach?
• Key Takeaways
• Key Terms
• Frequently Asked Questions

Disruptive and emerging digital technology powered by blockchain is still in its infancy. Its traditional application and implementation in financial services, predominantly via cryptocurrencies, has just begun and faces constant regulation changes. There are many other ways blockchain technology can be applied. This includes agriculture, property ownership, healthcare, supply chain and art. Therefore, Australian businesses will need skilled and experienced staff in these fields to innovate, adapt and grow. If you run a business that relies on blockchain technology, you are likely experiencing a shortage of Australian skilled workers. There are noticeable advantages to onshoring overseas workers and prospective candidates, such as promoting team-building and safeguarding confidential information. This article examines how your business can successfully hire offshore talent.

The Australian Immigration Framework

There are two main avenues for your business to hire workers to migrate to Australia:

• Corporate immigration via employer-sponsored visas: The business may need to be approved as a sponsor by the Department of Home Affairs (DHA) and nominate the candidate; and
• Personal immigration via independent visa pathways: The business is not part of this process but can assist the candidate in other ways as an incentive to attract top talent.

Corporate Immigration – Employer-Sponsored Visas

Temporary Skill Shortage Visa

The Temporary Skill Shortage (TSS) visa is the most utilised employer-sponsored visa (subclass 482). The first step for the TSS 482 visa is for your business to become a Standard Business Sponsor (SBS). The SBS status will last for 5 years. It is important to note that your business will be subject to sponsor obligations when it achieves SBS status.

The next step is for your business to lodge a TSS 482 nomination application. For the final stage, the candidate must lodge a TSS 482 visa application. Here, they must have at least two years of full-time work experience. Additionally, the candidate must meet criteria relating to:

• English language proficiency;
• health; and
• character.

Once the nomination and visa application are granted, depending on the job occupation, your business can sponsor the candidate to stay temporarily in Australia for 2 to 4 years. After this period, your business may be able to sponsor the candidate for a further TSS 482 visa.

The advantage of a TSS 482 visa is that the candidate must commit to working for your business in the nominated occupation. However, the candidate is not barred from obtaining a nomination from a different company and transferring their TSS 482 visa. The TSS 482 visa can also incentivise the candidate to remain working for your blockchain business, as they could be eligible for permanent residency via the Employer Nomination Scheme (subclass 186) Temporary Residence Transition stream (TRT). 

The most important requirement for the TRT 186 visa is that the candidate has worked for your business in the nominated occupation while holding the TSS 482 visa for at least two years. 

Direct Entry Stream

Also, the candidate will obtain permanent residency and be able to apply for Australian citizenship if eligible. The disadvantage is that the candidate is not reliant on your business. As they have obtained permanent residency, they do not need to remain working for your business. This is why it is common practice for businesses to nominate candidates under the TSS 482 first.

Training Visa

Similar to the SBS, this type of sponsorship will also attract legal sponsor obligations. The candidate must then lodge a 407 visa application. This visa can be granted for up to 2 years, which allows the candidate to obtain the work experience required for the TSS 482 visa.

Personal Immigration – Independent Visa Pathways

Candidates can apply for multiple different visas on their own accord. The main advantage of these visas is that your business will not need sponsorship status (i.e. not subject to sponsor obligations). As for candidates, the advantage is that they can obtain permanent residency and apply for citizenship if eligible. However, the disadvantage of independent visas is that the eligibility criteria are quite strict and subject to a competitive selection process.

The Global Talent visa (GTV) (subclass 858) is an attractive option for top talent. The GTV visa has two steps: 

• the candidate must lodge an expression of interest (EOI) application; and 
• once invited to apply, the candidate must lodge a GTV application. 

The candidate must also identify a target sector that aligns with their professional profile and achievements. In the area of blockchain, the most common target sector is Digitech (automation, big data, blockchain technology and cloud computing). Lastly, the candidate will require the nomination of an Australian citizen or business. If your business decides to aid the GTV application, there are no sponsor legal obligations. Your business will only need to attest to the legitimacy of the candidate’s claims. Upon GTV approval, the candidate will receive permanent residency.

Which is the Best Approach?

There are advantages and disadvantages in whether your business should proceed with employer-sponsored visas or via the candidate’s independent visas. This decision will require assessing your business and the candidate’s eligibility. Simultaneously, you should consider the overarching migration goals to determine the best approach.

For example, your business’ migration goals might not be the same as the candidate’s. On the one hand, they might want to settle in Australia permanently in search of a better lifestyle and opportunities. On the other hand, your business needs to hire skilled labour in the area of blockchain to help scale and grow the business. From an immigration perspective, these are not the same goals.

It is also very likely that prospective candidates will raise the question of migration and discuss this topic during the recruitment process and negotiations. Often, prospective candidates will consider the effort to relocate to Australia and opportunities to remain in Australia after a temporary visa expires. We should also note that temporary visas do not grant candidates access to Medicare, but permanent residency visas do. Therefore, permanent residency will be a goal for most overseas talent when considering working for your blockchain business in Australia.

Key Takeaways

If your business wants to hire overseas talent to work in Australia, the most common visa pathway is the employer-sponsored TSS 482 visa, which can lead to permanent residency via the TRT 186 visa. If your business wishes to offer permanent residency to an attractive candidate, it can do so via the DE 186 visa. Alternatively, your business could act as the candidate’s nominator for a GTV that will grant permanent residency from the outset. The topic of visas and migration is likely to appear during the recruitment phase in negotiations.

Choosing which visa pathway is best for your business’s overseas recruits can be challenging. If your blockchain business needs help with your overseas employee’s visa, our experienced immigration lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on 1300 544 755 or visit our membership page.

Key Terms

EOI (Expression of Interest): This is the first step in the Global Talent Visa application process, where the applicant can present their case for the Global Talent program. It allows them to include information about achievements and qualifications and demonstrate international prominence. 

EOI Invitation: After the EOI is successful, the applicant will receive a unique identifier and an EOI invitation to apply for the Global Talent Visa. 

Target Sector: The Australian government has identified these specific sectors as potential areas for growth and innovation. Through the GTV pathway, the government is seeking to attract highly skilled overseas talent to promote expansions and advancements in these sectors.

Frequently Asked Questions