From Dad’s Army:
The federal government is set to release a revamped Significant Investor Visa (SIV) program today, forcing foreign investors who want to acquire citizenship to set aside $2.5 million for investing in start-up and emerging companies.
The new program wants to divert the billions of dollars raised from the scheme away from ultra-safe investments such as government bonds and commercial properties to more risky areas such as start-up sector, which is cash-starved.
In the future, foreign investors need to invest at least half a million, or 10 per cent of their total investment, in eligible Australian venture capital or growth private equity funds. Investors also need to set aside at least $1.5 million for investing in ASX-listed small companies.
Good policy.