Australian Immigration Daily News

Migration Alliance this week held its fifth SIV Masterclass in partnership with NAB in Perth, where along with Deloitte, Bruno Delfante, Manager Business Migration Centre, was keynote speaker.

Delfante shared with the audience of around twenty local migration agents, that they had relaxed their view in relation to the SIV Complying investment portfolios. The requirement that 75% must at the outset have direct economic benefit to WA has been restrictive, and their focus is much more on the long term view of how the applicant intends to contribute to the WA economy over the term of the temporary VISA and beyond. Essentially the WA government is interested in understanding the applicant’s broader financial position and future plans for investment, including business opportunities and buying a home in WA. 

Of the 53 WA nominated state applications so far, 17 have been granted visa approval. Initial applications listed state government bonds as the preference, however by approval stage with time to appreciate Australia’s investment environment, most have implemented managed funds and other investments.  All have made additional investments outside SIV with the lowest overall amount in excess of $12.5 million.

The recent fall of the Australian Dollar has seen those arriving and transferring money in to Australia from overseas receiving many more Dollars in return for their native currency.

Our foreign exchange partners TorFX informed us that two weeks ago a client moving to Australia from the UK would have received around $1.74 for their Pound, today (24/09/14) they could expect closer to $1.85. For a family transferring £100,000 from a house sale that would be the difference between receiving $185,000 against $174,000 – a difference of $11K!

TorFX can also offer forward contracts for clients who aren’t making the move yet but want to lock in the rate whilst it is a favourable high.

Click here for the Victorian Stakeholder meeting notes held last week.

Join us for

Exclusive SIV cocktail event

Following the successful SIV cocktail events held in Sydney, Brisbane and Melbourne,  Migration Alliance is delighted to invite migration agents who practice in, or have an interest in Significant Investor 188 and 888 applications to an exclusive event by our sponsors NAB Private Wealth to be now held in Perth.

New Online Solution for Invoicing Overseas Clients in A$

Do you have a forthcoming invoice to send to an overseas client? Are you awaiting payment from a client based outside of Australia?

Migration Alliance have recently partnered with TorFX to introduce their currency exchange and money transfer services to both migrants and RMA’s who are sending and receiving funds to and from Australia, providing a cost saving alternative to the banks and credit card companies.