As deadline looms on consultation for significant investor visa (SIV) reform, Atlas Advisors Australia, a fund manager for Australia’s wealthy future Chinese citizens, has urged the Australian government to improve the scheme to help encourage greater investment into the nation.
Atlas, which supported the Australian Government’s review of investor visas and significant investor visas as part of its “Business Innovation and Investment Program: Getting a better deal for Australia” inquiry, said the government needed to maximise the opportunities and benefits to Australia from the program through collaboration with key industry participants and increased incentives for applicants.
“Tweaks to improve the system could include extending the significant investor visa period from four years to five years which would equate to a 20% increase in economic benefit without changing the asset mix,” executive chair of Atlas Advisors Australia, Guy Hedley said.
According to him, investors riskier exposure to emerging companies and venture capital could be increased with a reduced visa period of three years rather than four years.
“This is boosting local businesses and funding start ups in important areas such as health and technology as well as lifting Australian exports, employment and international trade connections,” Hedley added.
Atlas Advisors Australia currently manages the investments of many of the highest net worth Chinese investors into Australia with more than $1.7 billion of funds under management (FUM).