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Australia Announces New Reforms to Investor Visas

February 2015, 20
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Australia Announces New Investor Visas
The government of Australia has published a draft investment framework for an improved Significant Investor Visa Scheme and framed various options for a new Premium Investor Visa.

Apparently the new amendments are devised to direct the investment through visa schemes into more active areas of the economy, counting venture capital and minor budding firms as well. The review states that as per the prevailing SIV scheme, investment is directing largely into inactive investments like government bonds, wherein applicants are required to make an investment of minimum five million dollars for a four-year period. According to the new amendments, government bonds will no longer be a complying investment class.

Reportedly, the new complying investment framework for the SIV scheme states that minimum 20% or $1 million of the applicant’s $5 million investment must be attributed to capital investments via authorized venture capital funds. And, minimum 30% or $1.5 million of the applicant’s investment must be attributed to the budding listed firms through managed funds in minor Australian stock exchange listed firms. 

Sources said that the Premium Visa scheme would require at least an investment of $15 million and offer an expedited 12 month pathway to citizenship. The scheme will be more convenient in terms of investment class and is devised to entice highly skilled business people to Australia. 

The assistant immigration minister, Michaelia Cash stated that reforms will entice more investment to high growth companies and will support the commercialization of Australian research. The main objective is to see more investment into fields supporting innovation and provide new sources of growth capital.

Reportedly, the new amendments to the complying investment policy for the new PIV and SIV will go into play from 01 July 2015. 

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