Australian government has announced about the new three part complying investment framework recently for the premium Investor visa (PIV) and Significant Investor visa (SIV) programme which offers permanent residency being made by the applicants significant to complying investment
There should be at least the requirement of investing $5 million from July1, 2015 by the applicants of new SIV in complying investments, which are now being include the following:
• There should be an eligibility for Australian growth private equity funds or Australian venture capital investing in private companies and in start up of at least $500,000 where the governments expect from the new applicants to increase $1 million as a market response within two years
• There should be an eligibility for the listed investment funds(LIC’s) or managed funds up to $1.5million which are invested in the listed Australian Securities Exchange (ASX) in the emerging companies
• There should be up to $3 million balancing investment that invests in a combination of eligible assets in LIC’s or managed funds which include the other eligible corporate bonds or notes, ASX listed companies, real property and annuities which subject to a limit of 10% on residential real estates
Andrew Robb, minister of investment and trade stated that the bar was set too low by the previous SIV framework which are invested into the passive investments in a largely directed which already attracts the large capital investments like residential real estate’s schemes and government bonds
From July1, 2015 the government targeting talented innovators and entrepreneurs for which it is also intended to introduce a new PIV with a minimum invest about $15 million which will be availed only at the Australian government at the invitation
The government policy under the competitiveness Agenda and industry innovation, which are the part of suit of introduction of PIV and changes to SIV which are critical to the economic future and aims to promote innovation and commercialization of Australian ideas, research, investment and development.
