On 27 August 2014, the NSW Department of Trade and Investment announced that from 1 September 2014, Significant Investor Visa applicants seeking a NSW nomination will be able to invest 100 per cent of their funds into complying investments of their choice.1
Prior to 1 September 2014, the NSW Government requires that at least 30% of the applicant’s investment is in NSW State Government Bonds (also known as Waratah Bonds) as a condition for nomination.
For more information in relation to the Significant Investor Visa please see our earlier Herbert Smith Freehills articles.2, 3
What it means for you
If you are a trustee, platform operator or fund manager and you want to promote investment into your funds by Significant Investor Visa applicants seking nomination by the NSW Department of Trade and Investment, you may wish to update your investment strategy and fund documentation for new applicants, to reflect the relaxation in the nomination criteria.