What You Need To Know About Significant Investor Visa
Significant Investor Visa (SIV) provides a 4-year allowance to invest and live in Australia. It’s for individuals who are able and willing to invest a substantial amount of funds in the sectors of the Australian economy which will boost innovation and commercialization of the country’s ideas.
The Purpose of SIV
The SIV is meant to support the Australian economy and to try to encourage rich persons that are looking for investment migration. The applicants under SIV must invest 5 million dollars into complying investments for at least 4 years before qualifying to apply for an Australian permanent visa.
SIV applicants are different from other applicants. That’s because they don’t require satisfying the innovation points test. Additionally, there are no restrictions on age or threshold requirements for SIV applicants in the English language.
Nevertheless, all applicants and dependents over 18 years of age who can’t demonstrate that they have a functional ability for the English language need to pay another installment of the visa application fee.
The complying investments for the SIV include:
- Direct investment into proprietary companies of Australia
- ‘Australian Securities and Investment Commission (ASIC) regulated managed funds’ with a responsibility to invest in Australia.
- Commonwealth, Territory, or State government bonds
Visa applicants may invest in each of these investment options in any proportion. They may also switch between complying investments as long as they satisfy specified requirements for reinvestment. Australian states have different requirements regarding what must be invested in.
- As an SIV holder, you may change between complying investments as long as the amount you withdraw from an investment is equal to the amount invested in another investment.
- SIV holders have at most 30 days from the date they withdraw funds from one investment to reinvest it into another complying investment.
- The funds you invest into another complying investment in 30 days are considered to have been continuously helping from the original date of investment in complying investments.
- Property investments won’t be taken as a complying investment. But, an SIV applicant may invest in an ‘Australian Securities and Investment Commission regulated managed funds’, which may also invest in the property market in Australia.
What’s an ASIC?
An ‘Australian Securities and Investment Commission regulated managed funds (ASIC)’ meant for the SIV is a managed investment blueprint as stated in the ‘Corporations Act 2001’ and regulated by ASIC.
Any interests provided in the fund need not be traded on a financial market and have to be covered by an ‘Australian Financial Services License’. The management investment blueprint can be a wholesale scheme also known as an unregistered scheme or a retail scheme also known as a registered scheme.
‘One Investment Group’ serves as ‘Responsible Entity’ for all registered schemes and ‘Trustee’ for any unregistered scheme. It’s able to help investment managers in the SIV operation focused registered as well as wholesale managed investment blueprints.
‘One Investment Group’ is the ‘Trustee’ or ‘Responsible Entity’ for over 100 managed investment blueprints with many SIV focused schemes.
ASIC Qualified Requirements
For an ‘Australian Securities and Investment Commission regulated managed funds (ASIC)’ to successfully compete as a complying investment meant for the Significant Investor Visa, the ASIC has to be restricted to specific investment types as defined by the Migration Minister in writing.
So, the categories include the following:
- Funds held by deposit-taking institutions of Australia
- Australian agri-business
- Term deposits or bonds issued by financial institutions of Australia
- Bonds given by a State or the Commonwealth or Territory government
- Infrastructure projects with Australia
- Real estate within Australia
Equity, bonds, hybrids, or other corporate debts in companies and trusts listed on an ‘Australian Stock Exchange’