You are able to invest in a number of Department of Home Affairs-recommended and approved investments. This type of visa is best undertaken with the assistance of a migration lawyer, as it is complicated.
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How can I find a fund to invest in for the Australian SIV program?
I am a Malaysian citizen who is interested in participating in the SIV program. I cannot seem to find a list of acceptable or qualified funds. How can I find possible funds to invest in to meet the SIV requirements?
Answers
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You need to enlist the services of a fund manager who specializes in SIV-complying investments. as this is a very complex investment framework. If you do not make the correct investments that comply with the SIV legislation your visa will be refused. It is recommended that you also engage the services of a registered migration agent who will work closely with the fund manager to ensure that your application is successful. A migration agent should not give financial advice and a financial adviser should not give migration advice, but together they will make sure that you make the correct investments and meet the legislative requirements for the granting of your visa.
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I have access to a fund that specializes in SIV-complying investments. However, there is no such list and few offer the complete SIV package.
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Unless you are a professional investment banker, with much funds to invest, you are not expected to make the investment alone. You would be more prudent going through the process of statutory due diligence through professionals.
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A list of approved managed funds does not exist. Your legal representative who will assist you with applying for this visa should be able to guide you and advise on the visa requirements to ensure that the managed fund you will invest in meets the terms of a complying investment. For example, you can invest in: a government bond of the commonwealth, state or territory; make a direct investment in an Australian proprietary company that meets certain compulsory requirements for complying investment; or invest in a managed fund for a purpose of infrastructure projects in Australia, real estate, Australian agribusiness and other options.
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There is no list of acceptable or approved managed funds named for the Australian SIV, but there are quite a number of companies in Australia that specialize in SIV fund management programs. However, when choosing a fund management company for SIV, you need to ensure that the fund management company that you sign up with has an Australian financial services license for investment and has maintained a minimum of $100 million Australian dollars in the total investment funds under its management throughout your investment period. On your behalf, your appointed fund manager is required to make a four-year commitment in complying investment of SIV, which is a specific breakdown of the $5 million AUD into: (10 percent) $500,000 in eligible Australian venture capital or growth private equity funds in start-up or small private companies; (30 percent) AUD $1.5 million in emerging companies via an eligible managed fund or listed investment companies; and (60 percent) $3 million AUD in balancing investments comprised of shares in ASX-listed companies, eligible bonds or notes, annuities, fixed-term deposits, derivatives, real estate funds. The appointed fund manager will help ensure that your SIV investments are distributed in the right quantum and with the correct category of institutions/funds in accordance with the complying requirements. The manger will also take into account your specified preference in types of investments.
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There are several funds, but it is not a common practice.
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The Australia government doesn't publish the list of SIV fund providers. I suggest that you speak to a registered migration adviser on this.
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