Potentially, it is a multi-million dollar market for the migration advisory industry. With interest from overseas investors in the Significant Investor Visa programme (SIV) gathering pace the reality however may be that only RMAs working together with consultants experienced with business, investment and tax advice are likely to corner the market. Migration Alliance has worked closely with the likes of PwC, NAB, Ord Minnett, and several other consultants and companies to create a streamlined solution for SIV prospects which RMAs can easily access in order to start tapping into this potentially lucrative market.

The Coalition government’s concerted effort to remove obstacles in the SIV programme, has now had rich investors looking at it as a genuine pathway into Australia. “At $1 billion worth of investment so far and rising fast, Australia’s “significant investor” program is demonstrating its appeal – especially to wealthy Chinese. The general idea is to use the lure of residency visas in exchange for $5 million worth of approved investment in Australia. “ reports the Australian Financial Review.

Under the Coalition government some 190 applications have been approved under the SIV programme with a further 550 under consideration. The Coalition is now reviewing the programme in order to improve it further by removing cumbersome aspects of the application and expanding investment options. “The government continues to work closely with the financial services industry and other stakeholders to offer greater flexibility and investment choices for the future investment migrants,” said Senator Michaelia Cash, the Assistant Minister for Immigration and Border Protection.

Unlike many of the other visas RMAs deal with, the SIV poses some unusual challenges: given the large amount of money required from applicants on the one hand and the fact that applicants, on the other hand, need confidence that their migration advisory consultants will properly help provide direction on how they can manage their money and the process successfully.

Toward this, the Migration Alliance together with its partners have setup the SIV portal to help both RMAs and prospective applicants understand some of the key issues in the process. The portal is a good starting point for RMAs wanting to know more about how to assist prospective applicants. Some of the issues addressed include the following:

• Help in preparing a statement of assets and liabilities position (SALPT) which is one of the key starting points;
• Advice on best of options for SIV investments, and other further investments;
• Assistance with the preparation of business plans;
• Critical advice on tax and effective tax structures;
• Education options for the applicant’s children; and
• Real estate purchase discussions.

This is a direct link to the Migration Alliance’s SIV portal: http://migrationalliance.com.au/en/siv/

 “Migration Alliances’ SIV portal is a real solution for both investors and RMAs interested in making the most of the opportunities the increasingly popular SIV programme offers,” says Liana Allan of the Migration Alliance who has worked with some the top consultants in Australia to create this important portal for members of the Migration Alliance."