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First Significant Investor visa granted

Latest news from the Honorable Brendan O’Connor MP, Minister for Immigration and Citizenship:

 

Friday, 03 May 2013

Australia’s first significant investor visa has been granted to a successful Chinese toy manufacturer and his young family, Minister for Immigration and Citizenship Brendan O’Connor announced today.

The significant investor visa was introduced in November 2012 to attract potential migrants with a demonstrated history of success in business and investment.

Under the scheme, significant investors must invest at least $5 million in the Australian economy under the business innovation and investment program. They become eligible for a permanent visa after holding a provisional visa and maintaining the $5 million investment in Australia for four years.

‘Australia is in active competition with other countries across our region for successful, high wealth individuals and the capital and business acumen that comes with them,’ Mr O’Connor said.

‘Significant investors bring with them their skills in business, their links to international markets and additional capital for investment in other projects in Australia that interest them.

‘There has been substantial interest from potential migrant investors with more than 170 applications lodged, totalling a potential of $850 million in investment.

‘The Gillard Government is determined to manage our immigration program in the best interests of all Australians. Attracting top-flight business operators and investors is critical to continuing jobs growth for Australians.’

Investment options include Commonwealth, state and territory government bonds, managed funds and direct investment into proprietary Australian companies.

State and territory governments are partnering with the Commonwealth to ensure the available visas are offered to the most experienced business people and high profile investors.

The Victorian state government nominated the first successful significant investor to be granted a visa under the scheme.

 

Click here to read the full article.

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