On 15 May 2015, the Australian Government has announced the new framework for the Significant Investor (SIV) and Premium Investor (PIV) programmes to be implemented from 1 July 2015. The SIV programme provides the opportunity for foreign persons to obtain an Australian visa by investing at least $5 million over four years in complying Australian investments.
In order to comply with the new SIV regime, applicants must invest in the following investment products developed by licensed Australian managers:
- At least $500,000 into a Venture Capital Limited Partnership (VCLP) or Early Stage Venture Capital Limited Partnership (ESVCLP);
- At least $1.5 million in a managed investment scheme or listed investment company, that primarily invests in emerging companies; and
- Up to $3 million in a managed investment scheme or listed investment company, that primarily invests in a permitted asset class, including:
- Companies, A-REITs, infrastructure trusts including their ordinary equity, preferred equity, convertible bonds or corporate issued floating rate notes listed on the ASX.
- Corporate bonds or notes issued by an ASX entity or investment grade rated Australian corporate bonds or notes rated by an AFS licensed debt rating agency.
- Deferred annuities issued by Australian registered life companies.
- Retail, office, industrial or hotel real property in Australia.