Australia’s Significant Investor Visa Program – Alive and Growing
Despite recent negative publicity and questions surrounding the real benefit to Australia of the Significant Investor Visa category, there is no evidence to suggest that the SIV program is about to be scrapped. As registered migration consultants who are very active in the business skills and significant investor visa categories, we continue to receive strong interest in the program.
Following the introduction of the new complying investment framework on 1 July 2015 there has been some concern from prospective applicants regarding the obligation to invest 10% of the complying investment portfolio in venture capital or growth private equity funds and 30% in small to medium cap funds (emerging companies). Having had numerous discussions with prospective clients regarding their concerns it is evident that the problem is more a lack of understanding and a need for education around the highly regulated processes adopted by fund managers involved in these particular type of investments and indeed the protection and governance imposed on fund managers in this area. It is important to note that only regulated and managed funds are available for significant investor visa applicants. In the case of venture capital funds the funds must be registered with the Australian Venture Capital Association (AVCAL). With effective management, the risk profile attached to these types of investments may not be as significant as many understand to be the case.
The significant investor visa program continues to offer significant benefits to applicants which is not offered by the other business and investment categories, including:-
- No upper age limit
- No minimum English language competency requirement
- Flexibility on residency prior to the grant of permanent residence, i.e. main applicant required to spend 40 days per year in Australia or 160 days over 4 years. Alternatively spouse will be required to spend 6 months per year in Australia in order for the family to qualify for permanent residence
- Being a provisional visa there are significant taxation advantages to the significant visa stream
For further information on the significant investor visa program please contact Ivan Chait (Registered Migration Agent 9253612).