The Australian government has expanded investment options for significant investor visa applicants, according to an announcement made by Assistant Minister for Immigration and Border Protection, Senator the Hon Michaelia Cash on 29 November 2013.
The additional 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.
Among the government’s efforts to reboot the significant investor visa programme to ensure it produces the best possible outcomes for Australia, the expansion of the list of complying investments through eligible managed funds is expected to provide greater investment flexibility to applicants under the programme.
“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,” said Senator Cash.
“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,” she added.
The significant investor visa, a new stream within the Business Innovation and Investment (Provisional) (Subclass 188) visa and the Business Innovation and Investment (Permanent) (Subclass 888) visa, is designed to facilitate migration of foreign investors who are willing to invest AUD5 million into approved investments for a minimum of four years. Since its launch on 24 November 2012, 65 significant investor visas have been issued, with more than AUD325 million in complying investments.
02 December 2013