Know more about ASIC Regulated Funds Management and 888 Visa

Posted by jennycooper on May 19th, 2014

Investment always has its share of risk and uncertainty along with a promise to make a fortune. Investment is thus serious business as all countries try various schemes to invite new investors. Australia presents lots of business opportunities. But it is not always easy to gain dividends by investing in a foreign country. In a bid to attract more potential investors in the country, the Australian Ministry of Immigration and Citizenship decided to expand the categories of complying investments for Significant Investor Visa (SIV) in 2013. Since it is not always easy for an investor to keep all the information about this investment programme there are some reputed agencies that bring out ASIC Regulated Funds Management plans for them. But before that they must know about 188 Visa and 888 Visa 

SIV is granted to migrants who are willing to park some few millions in various Australian activity sectors through ASIC Regulated Funds Management programmes. It was initiated as a new type in the Business Innovation and Investment. The provision one was termed as 188 visa (as per the number of the subclass) and the permanent one was 888 visa, again on the bass of the subclass. 

The SIV investors can now look into investment instruments held by Australian banks, securities listed in the Australian Stock Exchange (ASE), mortgages, annuities of Australian life insurance company, interests in unregulated managed funds and other such options. The minimum investment amount for SIV applicants is fixed at AUD$5 million and there are no upper age limits for investors. The Australian government has kept the eligibility criterions very flexible so that every investor stands a chance to qualify for the SIV programme.

An investor has the option of choosing between two types of visas — the 188 and the 888 Visas. The new investor first has to apply for the 188 visa, which is a provisional visa granted for just four years. However, the Provisional Significant Investor Visa stream needs recommendation by the relevant Australian territory or state. This visa allows one to travel in and out of Australia for the term of the visa, bring family members to Australia and seek permanent residence by applying for a Business Innovation & Investment permanent visa. Once you get in touch with ASIC Regulated Funds Management companies they inform you on these details.

After the expiry of this period the investor can go for the subclass 888 Visa, if they want to remain in Australia. This is expected to provide a push to Australian fund management industry as more funds will flow in since SIV investors’ risk factors go down comprehensively as they can now switch their investment any time during the four-year provisional visa period. The inflow of foreign fund, mainly from China and other Asian countries is likely to help local business too as some investors may go for joint ventures with local companies. It is therefore wise to contact a good ASIC Regulated Funds Management farm to invest in Australia and reap two-fold benefits. 

Resource Box: Australia has opened its market to the outer world for meaningful development with ASIC Regulated Funds Management and one may find 888 Visa of huge advantage.