Australia re-opens for investment from HNW migrants

21 September 2020
| By Oksana Patron |
image
image
expand image

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.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago