The Australian immigration minister will intorduce new investor visa program
In one of his recent speeches the Australian Immigration Minister Scott Morrison announced that the Significant investor visa program will be redesigned in such a way that it will include small and medium sized business. This means that the program may become a potential game changer for the Australian start-up tech sector. The Significant Investor Visa is a special visa program that is available for affluent individuals, whose Net Worth exceeds 5 million Australian dollars. The program already held the promise of bringing hundreds of millions of dollars of new money into the innovation sector over the next several years, but the targeted changed flagged this week provide additional incentive to ensure that happens. The program has that was introduced under the former Premier Minister Julia Gillard already attracted more than 2 billion dollars of investment in the Australian economy and gained the support of the opposition. According to the current immigration minister the concept of the Significant Investor Visa is very well- though, but many of the requirements are clumsy. The new changes that he will introduce to the program will change the investment criteria so that the Small and Medium Sized Enterprises and the startups are given a higher profile in the program. “We will look to review the investment criteria for the program, with a view to having a more flexible approach that could see more of the investment capital attracted under the program being made available to more small and medium-sized businesses, including entrepreneurial start-ups,” he said. This will give the Australian tech startup sectors the ability to attract new capital and to connect with the international markets, particularly China, where the most of the foreign investments are coming from.
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