I was delighted to attend the annual Lebanese Chamber of Commerce luncheon on 21st August 2017 at Doltone House, Jones Bay Wharf, where the Hon Scott Morrison, MP and Federal Treasurer was the guest speaker.
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 recent BasisPoint Significant Investor Visa (SIV) conference, following the keynote address by the assistant immigration minister The Hon Alex Hawke MP, there were lots of questions from the more than 200 industry participants in attendance.
SIV is one of the streams within the Business and Innovation program and more than 1,700 visas have been granted since commencement in 2012 generating $8.7B in complying investments, with 88.4% of applicants from China. In July 2015 there was a change to the complying investments framework to more active assets to contribute to Australia’s economic growth. Continue reading More changes likely to Significant Investor Visa Program