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Significant Investor Visa program presents opportunities for Australia

17 Dec 2012
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The Trust Company expects the Federal Government’s Significant Investor Visa scheme to have the potential to drive significant amounts of foreign investment to Australia, it said at a recent seminar.

Detailed in the Federal Budget, the Significant Investor Visa (SIV) is available for those who invest A$5 million or more into complying investments which include ASIC regulated managed funds with a mandate for investing in Australia. It came into force on 24 November.

Today’s seminar, hosted by The Trust Company, is for funds managers, property funds and private equity funds as well as industry service providers to discuss the exciting opportunity for the industry.

The initiative aims to promote foreign investment in Australia and replicates similar schemes in the UK, New Zealand, Canada and Singapore.

The Trust Company – Australia’s only trustee with licenses in Australia, New Zealand and Singapore – has seen an increase in inquiries to its Singapore and Sydney offices, from those looking to capitalise on the SIV opportunity, said Mr Andrew Cannane, Head of Corporate Client Services.

“As a net importer of capital, Australia needs foreign investment and we expect the SIV will result in substantial capital flows into Australia” said Mr Cannane. He estimated that a billion dollars had already been committed to funds set up for this purpose.

The Trust Company has been appointed as custodian to one Significant Investment Visa Fund, which is available for investment for holders of the new Significant Investor Visa, and it is in discussion with other providers about the provision of RE and custody services for other upcoming offerings.

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