The entire Business and Investment Visa program offers around 7,000 visas every year.
Business visionary & investor visa, not significant investor visas, represent the majority of grants under the scheme. These apply to business and investment requirements, as well as a point-test, which values youth, migrants with English language qualifications ,experience and ability
But large investments come through the significant investor visas scheme, which does not implement a single digit test. In addition, significant contrarian visas holders qualify for permanent residency if they have spent just 40 days in Australia per year.
As per the data released in February, 183 SIVs were awarded in 2017-18 with the program on track to give the same figure for 2018-19.
Eighty-seven percent have been awarded to Chinese citizens since 2012, ahead of Hong Kong (3.2 percent), Malaysia (1.5 percent), South Africa (1.3 percent) and Vietnam (0.9 percent).
The first permanent visa under the program was granted in 2017-18. On January 31, 2019, around 700 were awarded.
Moelis, the largest manager of SIV investments in Australia, has a team of 12 clients in Sydney, Melbourne and Shanghai.
The first half of 2019 results released this week said that capital flows “remain strong” from the high net worth of Chinese customers in the SIV program.
“Despite the redemption of some significant investor visas funds by clients fulfilment their residency objective, we have been able to maintain the investment funds of several significant investor visas clients who have, despite obtaining permanent residency from the Australian Government, raised their expenditure for Mollis Chose to maintain. Australia. “
It was claimed that there were entry barriers for competing asset management firms, as Moily has been pursuing significant investor visas for six years.