Significant Investor Visa

What is the Significant Investor Visa?

The Significant Investor visa has been introduced as a new stream within the Business Innovation and Investment (Provisional) (Subclass 188) visa and the Business Innovation and Investment (Permanent) (Subclass 888) visa.   The purpose of the visa is to provide a boost to the Australian economy and to compete effectively for high net worth individuals seeking investment migration. Migrant investors will be required to invest AUD5million into complying investments for a minimum of four years before being eligible to apply for a permanent visa.

Am I allowed to engage another person to manage my complying investments?

Yes, you are allowed to engage another person to manage your complying investment.   As a holder of a Significant Investor visa you do not have to be directly involved in managing your complying investment.

What are complying investments?

Complying investments for the Significant Investor visa include:   – Commonwealth, State or Territory government bonds -Australian Securities and Investment Commission (ASIC) regulated managed funds with a mandate for investing in Australia; and -direct investment into Australian proprietary companies.   Visa applicants may hold investments in each of the above investment options in any proportion and may also change between complying investments, provided they meet specified reinvestment requirements.

Is it possible to invest in property?

No. Direct investments in property, including residential real estate, will not be considered a complying investment.   In addition, from 1 July 2015, indirect investment in real estate through schemes where the dominant purpose is residential real estate will not be a complying investment under the Significant Investor Visa (SIV). The Government will continue to focus on areas which meet with its publically stated objectives for SIV and Premium Investor Visa (PIV) and will exclude any areas which do not meet these objectives.

Contact Person: Marc Geary   Email: marc.geary@harrisfraser.com.au   Reference: Department of Immigration and Border Protection www.imi.gov.au