New investment options have been added to Australia’s Significant Investor visa, which is open to applicants who wish to invest through eligible managed funds.
The Significant Investor visa was introduced last year to facilitate migration of investment migrants who are willing to invest a minimum of AUS$5 million in a complying investment in Australia over at least a four-year period.
The recently announced additional options for investment come as the government works towards rebooting the visa programme, to ensure it produces the best possible outcomes for the nation.
New investment options include annuities issued by an Australian registered life insurance company, derivatives used for portfolio management and non-speculative purposes, loans secured by mortgages over other permitted eligible investments, and bonds, equity and other corporate debt in companies and trusts.
Senator Michaelia Cash, the Assistant Minister for Immigration and Border Protection, believes that the expansion of the list of complying investments through eligible managed funds will provide greater investment flexibility for Significant Investor visa applicants.
“The government is working closely with the financial services industry and other stakeholders to offer greater flexibility and investment choices to enhance the attractiveness of the Significant Investor visa for investment migrants,” she explained.
“The Coalition government will send a clear message that Australia is open for business while working to ensure investment attracted under the programme is of maximum benefit to our nation.”
The Senator continued: “The government believes that people who create business, people who risk their capital, people who go out every day and create jobs from their own efforts and from their own enterprise are vital to our national interest.
“That is why the government wants the Significant Investor visa programme to have the best possible chance of attracting as much overseas investment into projects that will stimulate our economy and create jobs and capital for hundreds of Australians and in as many small businesses as possible.”
To date, the Australian government has approved 65 significant investor visa applications since the programme was launched on 24th November 2012, resulting in more than $325 million in complying investments.
Article published 29th November 2013