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
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
