New 188b Investor Visa commencing 1st July 2021

[Steve Elliott]

Some readers may be aware that the Australian Government conducted a major review into the Business Innovation and Investor Visas, the findings were published in December which proposed changes set to commence in a few weeks on July 1.

The 188b Investor visa is undergoing a radical overhaul, which should be welcomed by many as a $1.5million investment into State and Territory Bonds really was not of great benefit to both investors and also State Governments (the borrower).

The minimum investment amount is set to increase to $2.5 million and the complying investment framework will comprise a mix similar to the current Significant Investor Visa (SIV) which includes Venture Capital, Emerging Companies and a balancing investment.

For applicants who have already lodged visa applications, this will not impact you however, if you intend to lodge post 1st of July, the new rules will apply to you.

For many,  this may sound both exciting and positive, yet others may have reservations. Personally, I think this, along with other flagged changes, are very positive.

As a qualified financial adviser (and registered migration agent) with considerable experience with the SIV, I'll do my best to answer any questions you have on these changes.

 

[DJT]

On 20/05/2021 at 07:11, Steve Elliott said:

Some readers may be aware that the Australian Government conducted a major review into the Business Innovation and Investor Visas, the findings were published in December which proposed changes set to commence in a few weeks on July 1.

The 188b Investor visa is undergoing a radical overhaul, which should be welcomed by many as a $1.5million investment into State and Territory Bonds really was not of great benefit to both investors and also State Governments (the borrower).

The minimum investment amount is set to increase to $2.5 million and the complying investment framework will comprise a mix similar to the current Significant Investor Visa (SIV) which includes Venture Capital, Emerging Companies and a balancing investment.

For applicants who have already lodged visa applications, this will not impact you however, if you intend to lodge post 1st of July, the new rules will apply to you.

For many,  this may sound both exciting and positive, yet others may have reservations. Personally, I think this, along with other flagged changes, are very positive.

As a qualified financial adviser (and registered migration agent) with considerable experience with the SIV, I'll do my best to answer any questions you have on these changes.

 

Hi Steve,

These upcoming changes as you put it are both exciting and progressive and can hopefully attract more investment into Australia.

I received my 188b (nominated by VIC state) in Nov 2019. I am keen to understand the financial advisory services you provide. Is there a website I can look up? TIA  

Cheers,

DJT

 

 

[Steve Elliott]

12 hours ago, DJT said:

Hi Steve,

These upcoming changes as you put it are both exciting and progressive and can hopefully attract more investment into Australia.

I received my 188b (nominated by VIC state) in Nov 2019. I am keen to understand the financial advisory services you provide. Is there a website I can look up? TIA  

Cheers,

DJT

 

 

Hi DJT

Yes, totally agree. It's a long overdue overhaul.

I have copied the web-link below. It is quite generic however it provides you with a taste of what we are all about. I have been a financial advisor for a very long time (30 years+) and more recently I became a registered migration agent, primarily so I can provide business and investor migrants with a holistic service. 

I'd be happy to have a chat with you get a sense of what you are looking for and whether I could be of any assistance.

https://www.shawandpartners.com.au/about/shaw-and-partners/

All the best

[Steve Elliott]

The other important change is that these visas will transition from 4 years to 5, with the proviso that if you have satisfied the visa conditions, you may be eligible to apply for the PR888 after holding the provisional 188 for three years.

Another development which is very welcome is that all fund managers offering SIV and IV investments will be subject to an independent audit to ensure compliance. This should provide greater peace of mind to investors.

We have not seen the new legislation yet so what we have so far are just ministerial press releases. It will only be when we have had chance to scrutinise the wording, when we will be able to see if there are some devils in the detail!!