From 1 July 2015, those looking to migrate to Australia under the $5M Significant Investor Visa (SIV) pathway are required to invest 10% or $500,000 into venture capital. Many thought this would deter future applicants, 90% of whom have come from mainland China.
The Financial Review reported on 9th November, 2015 there have been more than 70 applications lodged under the new program. Victoria is still the most popular destination with 39 applications, as it continues to market the scheme heavily to wealthy investors across China.
Victoria Xia, NAB Migrant Banking, was one of the delegates on the recent VIC government roadshow which saw 2,000 people attend 73 seminars across 12 cities. There has been equally strong interest in the visa outside the major centres of Shanghai and Beijing, including provincial cities like Xian in central China.
There has also been interest from South Africa, as well as the United States which we understand Austrade is looking to for invitations under the Premium Investor Visa, $15M 12 month pathway.
To find out more about the SIV program contact the NAB SIV concierge team here. You can also connect with a range of experts in the Expat Advisors Community including consulting services for financial planners.