The Australian Trade Commission has released a draft investment framework for an enhanced Significant Investor Visa Scheme (SIV), and design options for a new Premium Investor Visa (PIV). The proposed framework suggests that half of each applicant’s investment will be directed into managed funds investing in venture capital and small emerging companies.
Under the existing SIV scheme investment is directed largely into lower risk investments like government bonds. Applicants are required to make an investment of at least AUD 5 million in complying investments for a minimum of 4 years. Under the proposed changes government bonds would no longer be a complying investment class.
The proposed complying investment framework for the SIV scheme includes:
Industry consultations will continue before the final details of the proposed framework are settled. Changes to complying investment policy for the SIV and new PIV would likely take effect from 1 July 2015.
Initial indications are that applications lodged prior to 1 July will be determined on the basis of the currently existing investment framework.
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