So if the press release issued last Friday is anything to go by, the Australian government is really starting to focus on widening the net to attract wealthy immigrants to Australia.
Back in November we wrote about the government’s plans to fast track the significant visa application process, now it seems the government is looking to offer additional flexibility to attract wealthy migrants.
In a nut shell, the Australian immigration department is looking to add a number of additional investment options for those looking to emigrate to Australia under the significant investor stream. Check out the press release below for the full details.
Greater investment flexibility as government reboots significant investor visa programme
Friday, 29 November 2013
New investment options have been added for significant investor visa applicants who wish to invest through eligible managed funds, Assistant Minister for Immigration and Border Protection, Senator the Hon Michaelia Cash said today.
The additional options for investment come as the government works towards rebooting the significant investor 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 Cash said the expansion of the list of complying investments through eligible managed funds would provide greater investment flexibility to 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,’ Senator Cash said.
‘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 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.
‘This visa plays an important role in enticing international investment to Australia. The government is committed to helping increase the attractiveness of Australia as a place of investment to potential applicants,’ Senator Cash said.
The significant investor visa was introduced to facilitate migration of investment migrants who are willing to invest a minimum of $5 million in a complying investment in Australia over at least a four year period.
The government has approved 65 significant investor visa applications since the programme began on 24 November 2012, resulting in more than $325 million in complying investments.