The 2016 Migration Conference organised by Legal Training Australia and Migration Alliance had over 130 attendees with a packed full day program.
Suzanne Gillham provided an overview of the current focus for the NSW government in attracting business and skilled migration to NSW. So far, they have nominated 40 applicants under the new SIV2 framework.
Chris Livingston, Treasurer of Migration Alliance congratulated Suzanne and the new team on their approach and a fantastic program.
You can find out more about nominating for NSW here.
David Chin, BasisPoint, provided an insight into the Chinese HNW mindset . They are very focused on building a quality lifestyle for the families. The flexibility of the SIV enables them to continue to build wealth in China, whilst diversifying wealth to other jurisdictions.
For Australia, it is not just about the $5M visa investments, it is the opportunity to assist with the additional wealth that sits behind it.
For more insights from David Chin you can subscribe to his newsletter here.
Stacey Martin, NAB Private Wealth, provided practical insights collaborating with migration agents and other professionals in serving SIV applicants. With the migration professional having determined SIV is the appropriate visa pathway, as with any HNW client, by gaining a deeper understanding of their family and business objectives, risk profile and other investments, the appropriate portfolio can be can be constructed from a range of compliant managers in the Australian market place.
Stacey shared some experiences in working with SIV applicants, their advisors and family members. Chinese investors are used to a very different investment and regulatory environment, and discussions can take many hours and it is important to be patient. These wealthy business owners and entrepreneurs are looking for Australian expertise, and taking the time to build cultural awareness is very much appreciated.
An important aspect of the process is undertaking the identification and compliance checks so setting up Australian banking arrangements is an important firs step.
Royce Hort from NAB Migrant Banking outlined how an account can be opened prior to arrival in Australia and the range of financial services available, from private and business banking, to assistance with purchasing agriculture, guiding through the property development process and other business opportunities.
For information on opening an bank account prior to arrival download the flyer here.
Liana Allan, Conference Chair, closed the event with an acknowledgement of the the NAB partnership over the last couple of years. You can view the short video here.