Whilst off to a slow start, there have now been 193 temporary resident visa’s granted under the new investment regime introduced from 1 July 2015. This takes the total number of SIV visas granted to 1,824 since the commencement of the programme on 24 November 2012.
It is now two years since the new investment framework was introduced to the Significant Investor Visa (SIV) program. At the time, it was flagged that the mandated venture capital component may be doubled to $1M or 20% of the $5M complying investment. Austrade recently called on the industry to submit comments for review.
At the end of 2013 Chinese President Xi Jinping announced one of China’s most ambitious foreign policy and economic initiatives, the Silk Road Economic Belt and the 21st-century Maritime Silk Road. It consists of:
- The land-based “Belt” – the historic overland Silk Road trading routes that connected China, via Central Asia, to Europe and the Middle East
- The oceangoing “Road” – the maritime equivalents to the south, linking China, Southeast Asia, India, Africa and potentially Australia after Chinese President Xi Jinping called in April last year for the alignment of One Belt, One Road with Australia’s northern development plan.