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Posted by on in Investment visas
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Significant Investor Visa

As part of the SIV process every state and territory has recommended that SIV applicants seek qualified independent investment advice. The recently announced changes to the legislation relating to the SIV Eligible Managed Fund Investments make the need to obtain independent advice of vital importance.

As part of Ord Minnett’s arrangement with Migration Alliance Agents they firstly want to ensure that Migration Agents don’t breach the Corporations Act by inadvertently leading clients down a specific investment path such as full investment into a state government bond or one of the various newly established managed funds. This would constitute Financial Advice which one must be licensed for. 

As Ord Minnett is independent from product providers we are able to offer SIV applicants advice on and access to all of the 50 plus currently SIV complying managed funds. The number of funds is expected to grow exponentially on 23 November when the universe of potential SIV compliant fund managers will grow to include those using allowable levels of derivatives for portfolio risk management and annuities issued by an Australian registered life companies.

The Ord Minnett advisory process is easy to follow:

·         After the obligation free discussion / meeting they will for each client, create a concise financial profile, which will include the client’s attitude to risk.

·         As and when required they will introduce clients and liaise with their legal, taxation and specialist banking partners.

·         Prepare a SIV Investment Advice Strategy Paper that will define the bespoke SIV compliant investment strategy and use asset allocation models to demonstrate which investments are most suitable.

They construct portfolios that range from the most popular and very safe, Defensive Conservative Portfolios right through to the more balanced but still conservative “Blue Chip” Growth Portfolios.

·         The Investment Advice document including the required form 1413 declarations will then form part of the visa application.

·         They facilitate the implementation of  the agreed investments when client is invited to do so by DIAC.

·         Provide evidence that Complying Investments of AUD5 million have been made via written or emailed confirmation from the Treasury Corporation and the IDPS transaction statement showing the date of and amount of the complying investments, as well as the value of the portfolio.

·         At agreed intervals they will review the progress of the portfolio and recommend and make adjustments as required. They will provide evidence that the period of time between the date funds were withdrawn from one complying investment, until the date that the funds were reinvested into other complying investments were no more than the allowed 30 calendar days. Evidence will be in the form of the IDPS transaction statement showing the date of redemption and the date of reinvestment and the value of the portfolio.

·         Provide the required evidence that Complying Investments of AUD5 million have been held for the life of the Business Innovation and Investment (subclass 188) visa.

Please remember that Ord Minnett can support Migration Alliance Agents by :

1.       Contributing towards marketing via a news release or email to their databases

2.       The capability of paying attractive commissions upon the lodgement of complying investments

3.       Provision of glossy hard copy materials which cover the basic aspects of the visa and the investment aspects

4.       Provision of consultation on the investment aspects to help prospective clients make decisions.

Their investment solution is already up and running and they are already doing business. They are also well placed to assist your clients with their Australian taxation and banking needs and look forward to introducing them to and working with our bi-lingual accounting and private banking partners.

Brett Waller and Luke Headland from Ord Minnett look forward to continuing their working with Migration Alliance members and their SIV clients.

Please do not hesitate to contact Brett Waller or Luke Headland if you have any questions or want to discuss any prospective SIV applicants.

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