Australia China Business Council (ACBC) held it’s Significant Investor Visa (SIV) briefing on 28th August 2015 which was attended by a broad range of members.
Austrades, Michaela Browning, outlined their role going forward now that the new Significant Investor Visa (SIV) and Premium Investor Visa (PIV) frameworks are in place:
- SIV nominations along with state governments
- PIV program development and sole nominator (by invitation only)
- Complying investment framework design and assessment to achieve program objectives.
AusIndustry registers Venture Capital funds that are eligible for SIV investments, while the Department of Immigration and Border Protection (DIBP) continues to manage the migration program, including regulatory changes, implementation, compliance and ongoing administration.
Fragoman’s Simon Haag, provided an overview of the Business Innovation and Investment Programme (BIIP), and where SIV and PIV may meet the needs of potential migrants. Following state nomination and the DIBP timeframe is 60 days, then the applicant has up to 70 days to purchase complying investments for the provisional visa.
Stacey Martin, NAB Private Wealth shared the SIV Concierge service and the advice led approach to developing portfolio blends for the $4.5M of complying investments for the small companies and balancing items, including corporate fixed interest, property securities and industrial shares.
Craig Blair, Founder of Airtree Ventures with Daniel Petrie (ex Microsoft), showed the growth of venture seed and angel deals over the last 5 years, and shared their track record and some success stories in the sector. These include wotif, webjet, menulog and wizard home loans. In their first two funds, they looked at more than 400 companies to make just 10 investments.
For more information on any aspect of the Significant Investor Visa program please feel free to contact us.