All posts by Stacey Martin

Stacey Martin, Specialist Wealth Advisor - Expatriates and Significant Investor Visa, NAB Private Wealth. Based in Sydney, Stacey provides personal advice for executives, business owners and their families who's careers take them offshore. As Asia Ambassador, and Chair of NAB's Significant Investor Visa (SIV) proposition, Stacey works closely with migration, banking, tax and legal specialists to deliver an integrated service for investment migrants. She also founded the Expat Advisors Community for professionals with internationally connected clients.

Culture, Language and doing business in China

NiHao Global - represented in 22 major cities across China.
NiHao Global – represented in 22 major cities across China.

Janey Lee, Executive Director of NiHao Global in China, spoke at the Sydney Expat Advisors Community event in February. She discussed Chinese philosophies, communication differences between east and west, and provided some insights into doing business effectively in China. You can view the PowerPoint presentation here. Continue reading Culture, Language and doing business in China

Significant Investor Visa – more focus on funding venture capital and emerging companies

expat-advisors-community

For those assisting clients assisting with Significant Investor Visa (SIV) applications, have a look at the article in The Australian newspaper today “Rich migrants told to put funds to work.”

The Austrade consultation paper on last years proposed changes to SIV the and the introduction of a Premium Investor Visa (PIV) category is due for release today, following feedback from the Financial Services Council and other industry participants.

Austrade suggests 20 per cent of an SIV investor’s $5m should be placed into early stage, growth capital investments through government-approved venture capital funds and 30 per cent must be invested in managed funds investing in ASX-listed emerging companies.

It has already been mooted that investing into government bonds does not necessarily add to the economic prosperity of Australia, and with concerns on rising property prices a ban on using SIV funds for property acquisition is not surprising.

However, requiring SIV Applicants to allocate a large proportion of their complying funds into higher risk investments that are likely to exceed the personal risk profiles of many individuals, means it  will be essential that potential investment migrants get the appropriate information and advice about their options.

Check out the article here.

 

Do you have clients who have migrated from the UK?

UK photo

It may be wise to check if they have transferred their UK pension schemes over to the Australian superannuation system. From April 6, 2015 members of public sector pension schemes, including those covering the former National Health Service, will no longer be able to transfer the money to an Australian super fund.

Continue reading Do you have clients who have migrated from the UK?

Recommended Reading – Inside the Chinese Mind

I first met Geoff Baker and Helen Zhang in January 2013 at the Think Global forum day in Hong Kong as part of my first Asia delegation. Having been there for almost a week I’d wished someone had told me to read the book before the trip! I loved the stories they shared, especially the protracted meetings and entertainment that goes along with doing business in China. For those that don’t drink (or want to stay alert!) you can have a drinking delegate to keep up with the toasts – could be a popular job in Australia as well!

Check out this article from 2015 delegate and business friend Peter Black. The book Inside the Chinese Mind can be downloaded from Amazon.

 

I had the benefit on the Invest in Australia Mission of being introduced to Geoff Baker, originally an Australian lawyer and investment banker, who co-authored with his Chinese born wife, Helen Zhang (both pictured below with IIA mission leaders Caroline Hong and David Thomas) , a book titled “Inside the Chinese Mind: A Guide on How the Chinese Think”.

 
For anyone doing business, working with or sharing experiences with people originally from China, I highly recommend this book as an essential, well laid out and easy to read fast track guide to start to understand the many centuries of influences on the current culture which has shaped the Chinese people.
 
Some key concepts which are covered in the book, with the Chinese terms well described, include:
  • The Five Core Elements of Chinese Thinking
    1. Language that Shapes the Mind
    2. Yin and Yang
    3. Chinese Connectedness
    4. Midstream Living
    5. Face “mianzi” – More Important than Life Itself
  • The different types of Enterprises in China – State, Private and Foreign
  • The difference between leaders and decision makers
  • The work ethics of the different generations – with particular emphasis on some changes coming through with Generation Y
  • Communication and relationships in China – including “guanxi“, what “Yes” actually means and the various “Circles of Influence”
  • Both the Big Things and the Little Things that matter
  • How the Rule of Law works and how agreements and conflict are actually handled.
(Geoff Baker, Helen Zhang, Caroline Hong, David Thomas)

For more articles from Peter Black, Executive Coach and TEC Chair, on his experiences during the Invest in Australia Mission and Asia Financial Forum, check out his blog here.

Planning is underway for a Thnk Global delgation to Australia China Business Week 2015 in May to Guangzhou and Hong Kong – register your interest here.