Invest $500 million to get PR directly!
The Minister of Immigration announced the review of the SIV (significant investor) visa,
But relevant people believe that Australia has obtained fair value.
It is understood that the SIV visa program does not have any requirements for visa applicants’ age, English proficiency, education, EOI scores or even business background. Applicants do not even need to do business in Australia to have the opportunity to transfer to PR.
Experts said that the SIV project has been "a huge success" and has brought more than 2012 billion Australian dollars in direct investment to Australia since its launch in 110.
"It is estimated that the follow-up investment of SIV investors is four to five times more than the mandatory A$500 million investment, which means that their capital investment in Australia may reach A$500 billion."He said.
This project was fine-tuned in 2015, directing investors to venture capital and emerging companies, avoiding real estate,
But Immigration Minister David Coleman said this month that business and investor visa programs (in which SIV is the main item) will be reviewed.
"I will review business and investor visas because I have a question in my mind:Can we bring greater benefits to Australia?"
XNUMX% of SIV visa applicants are from China
Currently, Australia's entire business and investor visa program issues about 7000 visas each year. Business innovation and investor visas account for the majority, not SIVs.
This type of visa has business and investment requirements, as well as points testing, focusing on young immigrants with English proficiency, qualifications and experience.
butMore investors came to Australia through the SIV project, SIV does not require points testing, and SIV holders only need to stay in Australia for 40 days a year to be eligible to apply for permanent residence.
The performance report for the first half of 2019 shows that high-net-worth Chinese clients' capital flow into Australia through SIV projects is “still strong”.
"Although there isSome customers withdrew their SIV funds after obtaining residency, But we have successfully retained many other SIV customers. Although they have obtained permanent residency, they still choose to keep their funds in Moelis."
However, a 2016 report on the immigration project stated that SIV should be abolished.
"The broad economic benefits brought by the Significant Investor Visa and the Quality Investor Visa are negligible. The main benefits are the visa holders and fund management companies."
"Compared with other skilled immigrants, the social impact of immigrants coming to Australia through these channels may not be so beneficial."
Martin said he welcomes the review, but emphasized that the review needs to consider competition from the United States and Europe.
He suggested that the government allow SIV immigrants to increase the proportion of funds invested in start-ups, but also said that "we have got fair value."