Australia re-opens for investment from HNW migrants
Australia’s Government has recommenced the issuance of 188 visas and allocated interim places prior to the Budget under the Business Innovation and Investment Program (BIIP) which effectively means re-opening its doors to investment from high net worth (HNW) migrants, according to wealth manager Atlas Advisors.
The move would be expected to assist Australian businesses and entrepreneurs to counter the lack of availability of domestic capital investment.
Atlas’ executive chairman, Guy Hedley, said there had been a dramatic increase in interest from HNW investors including destinations such as Hong Kong.
“These migrant investors are keen to help stimulate business and employment through ventures in their new homeland,” he noted.
“We commend the Australian Government and the states and territories for recognising the important role business migration plays in driving our economy.
“We encourage the Australian Government to go further by prioritising its review of the BIIP to maximise the benefits to the economy in a post-pandemic era.”
AUTHOR
Oksana Patron
Recommended for you
More than 25 winners have been announced at the second annual Australian Wealth Management Awards.
As the deadline approaches for advisers to meet higher education requirements, the FAAA has shared an “obscure” loophole to help advisers avoid redoing a professional year.
A former financial adviser has been extradited from New Zealand after being alleged to have misappropriated $4.1 million from 13 clients.
Global wealth management platform FNZ has reached US$2 trillion in assets on its platform as it launches an Advisor AI solution to improve adviser productivity.
