Matthew Halliday MARN 0701626
The significant investor visa program (SIV) is to be suspended on 24 April 2015 before reopening on 1 July 2015 under revised requirements.
The government proposes to direct a significant portion of the SIV applicants’ funds into assets it deems of higher economic value however these are also likely to increase risk to investors. It is expected that the changes will contain a mandatory $1 million investment in Venture Capital Funds and around 1.5 million in Small and Micro Cap Companies. The remainder will however be able to be placed into managed funds. The Premium Investor Visa program however will have no limits on complying investments with the exception of investments in residential real estate or loan back arrangements.
We will provide further information on the changes as more information becomes available.