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Australia's Review of its Significant Investor Visa will expose flaws

March 2014, 11
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Australia significant investor visa
An assessment of Australia’s significant investor visa will allow the government to address any significant shortcomings in the present program.

Yasser El-Ansary, the chief executive of (AVCAL) Australian Private Equity and Venture Capital Association Limited has said that the present government‘s major shortcoming is that the intermediated investments by means of venture capital funds and private equity have been removed from the list of eligible asset categories.

Mr. Yasser El-Ansary said that there is no strategic basis to provide justification for expelling these investments from the government‘s significant investor visa. So, the government has to address this as a part of the overall review into the current rules in this area.

AVCAL is confident that if the list of the eligible asset categories is made more extensive, it would allow business migrants of high net worth to lend their support in small and medium-size enterprises across all the areas of the Australian economy.

Mr El-Ansary has stated that their economy is in the midst of significant organizational transformation over many sectors of industry. So, there is a necessity to look for every opportunity to assist investment in Australian businesses, which helps the country to take part in a globalised marketplace. 

In order to compete in the global market place, the business has to be creative, and must encourage the accessibility of capital investment, and this is considered to be an important constituent in supporting the businesses to generate new processes and technologies.

As per AVCAL, making the list more extensive would convey a message to the rest of the world that the economy of Australia is open for business, and the country is taking planned steps to absorb foreign investment into its businesses, to encourage growth in its economy and create jobs for its future.

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