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
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
