Changes to the Significant Investor Visa (SIV) requirements

UPDATE from Austrade

From 1 July 2015, new SIV applicants will be required to invest at least $5 million in complying investments, which must now include:

  • At least $500,000 in eligible Australian venture capital or growth private equity (VCPE) fund(s) investing in start-up and small private companies. The Government expects to increase this to $1 million for new applications within two years as the market responds;
  • At least $1.5 million in an eligible managed fund(s) or Listed Investment Companies (LICs) that invest in emerging companies listed on Australian securities exchanges; and
  • A ‘balancing investment’ of up to $3 million in managed fund(s) or LICs that invest in a combination of eligible assets that include other Australian exchange listed companies, eligible corporate bonds or notes, annuities and real property (subject to the 10% limit on residential real estate).

Further changes have occurred to the SIV requirements as of July 2015. You can read all about by clicking here.

 

BEIJING, 19. Aug, 2014 – Medianet International-AsiaNet.

Australia’s leading State of New South Wales (NSW) is making NSW the most competitive destination for high value investor migrants.

The NSW Government today announced a change to its Significant Investor Visa (SIV) requirements to make it easier for applicants to seek NSW nomination and invest in a broader range of investments.
NSW Deputy Premier and Minister for Trade and Investment Andrew Stoner said that from 1 September
applicants seeking NSW nomination will be able to invest 100 per cent of their funds in the complying
investment of their choice.

“Nominations will no longer be tied to a minimum investment in NSW Waratah Bonds,” Mr Stoner said.
“Under the Significant Investor Visa, successful applicants are required to invest AU$5 million in complying investments for a minimum of four years before being eligible to apply for a permanent visa,” Mr Stoner said.

“Up to now, NSW nominated applicants have had to make a minimum investment of 30 per cent of this, or AU$1.5 million, in NSW Waratah Bonds.

“Waratah Bonds are a safe, fee-free and low risk option for investments. NSW Government Waratah Bonds are one of many good choices available to investors interested in a Significant Investor Visa.
“To make it easier for investors, and to give them more choice, the NSW Government is removing the
requirement to invest a minimum amount in Waratah Bonds.

“From 1 September, overseas investors considering NSW nominations will be able to choose how to invest every dollar of their complying investment.

“This change will further consolidate NSW’s globally competitive position as a preferred investment
destination for investor migrants.

“NSW is more than Australia’s business headquarters – it’s the State that’s driving Australia’s economy.
“Rich in business opportunities, with a stable and strong government, and an economy that is robust, diverse, dynamic and easily accessible to the rest of the world, there has never been a better time to invest in NSW,” Mr Stoner said.

More information on the NSW Government’s Significant Investor Visa program:
http://www.business.nsw.gov.au/live-and-work-in-nsw/visa-and-migration/business-migration/
significant-investor-visa

Media: Office of the NSW Deputy Premier + 61 2 9228 5209

Background information
Australia maintains a strong anti-money laundering and counter-terrorism regulatory regime.

Significant Investor Visa Program applications are vetted by the Commonwealth Department of Immigration and Border Protection to ensure that the sources of the investor’s funds are lawful, and include character and security checks.

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 imposes obligations on financial institutions that include customer identification and verification of identity, record keeping, ongoing customer due diligence and reporting of suspicious matters, threshold transactions and international funds transfer instructions.

SOURCE: Deputy Premier of Australia’s Leading State of New South Wales.

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