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26May

NEW FRAMEWORK FOR SIGNIFICANT INVESTOR VISA

By Migration Agent Sydney | Migration Agent Sydney | 26 May 2015

The Australian government has finally announced the new investment framework for the Significant Investor Visa which also provided some further information regarding the introduction of the new Premium Investor Visa (PIV) taking effect on 1 July 2015.

The new arrangements aim to facilitate the flow of capital into innovative start-ups and emerging Australian companies. These goals are achieved by stopping SIV applicants from investing the required $5 million into passive investments, such as government bonds.

The new framework for the investor visa program will require at least a $5 million AUD investment, which must comprise:

  • At least $500,000 into eligible Australian venture capital or growth private equity fund(s) (VCPE) investing in start-ups and small private companies;
  • At least $1.5 million into eligible managed fund(s) or Listed Investment Companies (LICs) that predominately invest in emerging companies (i.e. market capitalisation below $500 million) listed on the Australian Securities Exchange (ASX) listed;
  • A 'balancing investment' (the amount will depend on how much was invested in the above mandatory elements) in managed funds or LICs investing in a combination of other eligible investments, including other ASX-listed companies (i.e. companies with market capitalisations above $500 million), corporate bonds or notes, annuities and (with limitations) residential real estate.

The new framework also prohibits 'loan back' arrangements which previously allowed applicants to use their investments as ‘security’ for borrowings.

The announcement confirmed that the PIV will provide a fast-tracked, 12-month pathway to Australian permanent residency for talented entrepreneurs and innovators who can invest at least $15 million into eligible investments. The PIV will also allow a wider range of eligible investments than the SIV, including direct investments in a range of companies and financial products.

For more information, please refer to http://www.minister.immi.gov.au/michaeliacash/2015/Pages/significant-and-premium-investor-visas.aspx 

 

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