The Australia China Business Council, in partnership with Deloitte Private, has released a new report prepared by Deloitte Access Economics entitled The Impact of the Significant Investor Visa Program – a long-term proposition for Australia. Click Here
The Significant Investor Visa (SIV) program is run by the Department of Home Affairs as part of their Business Innovation and Investment Program (BIIP). It offers a four-year provisional visa with a pathway to permanent residency for entrepreneurial and high net worth individuals who invest at least $5 million into complying investments.
Despite only accounting for 0.1 per cent of all visas granted each year, the SIV program has delivered approximately $10.1 billion of investment since its inception in 2012.
National President of the Australia China Business Council, the Hon. John Brumby AO, said:
‘The Australia China Business Council is well aware of the contribution of entrepreneurs and high net worth individuals from overseas. In a globalised world, Australia needs the experience and talents of people from every corner of the globe.
‘Every Significant Investor Visa holder has invested at least $5 million into Australia. The program has not only attracted more than $10 billion of new investment, but also the talents and energies of each of the individuals involved.
‘There is an important discussion to be had about the future and enormous potential of the SIV. This discussion should be conducted upon a strong evidence base, and it should take into account all the benefits of welcoming significant investors to Australia. That’s why this Deloitte Access Economics report is so important.’
The Impact of the Significant Investor Visa Program Report will be launched as part of Canberra Networking Day, the Australia China Business Council’s signature annual event on 26 June 2019. Canberra Networking Day sessions are open to the media. More details and the full agenda can be found at www.canberranetworkingday.com.au