Australia’s Immigration Minister, David Coleman has flagged that the business and investment visa scheme, which includes the SIV as its headline program, will be reviewed. As touted when the visa was last reviewed back in 2015, the potential outcome of this review would be that the mandatory investment into Venture Capital and Growth Private Equity Funds (VCPE) would be increased from 10% ($500,000) to 20% or $1 Million. This may be of concern to many potential Chinese SIV applicants, as the term Venture Capital when directly translated into Chinese, literally means 风险投资 (Fēngxiǎn tóuzī ) or ‘Risky Investment’. As the investment criteria applied to the SIV is that which applies at the time of application, we encourage any of our clients that are considering the SIV to apply as soon as possible to avoid these changes.
When can investors expect a reform of Australia’s significant investor visa to take effect?
While preparing my application for Australia’s significant investor visa, I have been hearing news about a potential reform of this program. When can investors expect the reform to take effect? Should I be worried about the case I am preparing now?