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Australia – NSW Government Relaxes Nomination Criteria For Significant Investor Visa.

31 August, 2014


Legal News & Analysis – Asia Pacific – Australia – Regulatory & Compliance

Background

 

On 27 August 2014, the NSW Department of Trade and Investment announced that from 1 September 2014, Significant Investor Visa applicants seeking a NSW nomination will be able to invest 100 per cent of their funds into complying investments of their choice.1

 

Prior to 1 September 2014, the NSW Government requires that at least 30% of the applicant’s investment is in NSW State Government Bonds (also known as Waratah Bonds) as a condition for nomination.

 

For more information in relation to the Significant Investor Visa please see earlier articles.2, 3

 

What It Means For You

 

If you are a trustee, platform operator or fund manager and you want to promote investment into your funds by Significant Investor Visa applicants seking nomination by the NSW Department of Trade and Investment, you may wish to update your investment strategy and fund documentation for new applicants, to reflect the relaxation in the nomination criteria.

 

Endnotes

 

  1. Andrew Stoner MP, Deputy Premier of NSW, Media release – NSW streamlines significant investor visa.
  2. Government expands list of ‘Eligible Managed Fund Investments’ for Significant Investor Visa.
  3. Government releases regulations to implement Significant Investor Visa.

 

 


For further information, please contact:


Fiona Smedley, Partner, Herbert Smith Freehills
fiona.smedley@hsf.com

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