Australia needs better investor visa scheme
Fund manager, Atlas Advisors Australia, has urged the Australian Government to increase incentives under the Significant Investor Visa (SIV) Scheme in order to maximise the opportunities and benefits to Australia.
Atlas’ executive chair, Guy Hedley, said that although the program brought in billions to the Australian economy and helped grow Australian companies and start-ups, the hard figures did not account for the longer-term economic and other benefits of the scheme.
“This does not account for the impact super wealthy migrants have on the Australian economy for the years after they obtain permanent residency,” Hedley said.
“These new migrants not only pour billions of dollars into our economy, they also bring skills, expertise and experience that is assisting Australia to enhance its competitiveness in global trade and build better links with international markets. These effects last for generations.”
Additionally, many applicants make additional investments to improve their knowledge of the business environment and build stronger connections to Australian communities.
Atlas, which also has $1.7 billion of funds under management and manages the investments of many of the highest net worth Chinese investors into Australia, said that the government should recognise the value and contribution that new migrants make would be critical.
AUTHOR
Oksana Patron
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
