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Significant Investor Visa (SIV )

Significant Investor Visa (SIV ). Stacey Martin, Dip FP CFP, GAICD Specialist Wealth Advisor – Expatriates & Significant Investor Visa, Asia Ambassador, NAB Private Wealth, Sydney, Australia Email: stacey.martin@nab.com.au Phone: +61 413 127 677.

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Significant Investor Visa (SIV )

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  1. Significant Investor Visa (SIV) Stacey Martin, Dip FP CFP, GAICD Specialist Wealth Advisor – Expatriates & Significant Investor Visa, Asia Ambassador, NAB Private Wealth, Sydney, Australia Email: stacey.martin@nab.com.au Phone: +61 413 127 677

  2. This presentation has been prepared by NAB Ltd ABN 12 004 044 937 and AFSL No. 230686. Whilst NAB strives to provide accurate information, nothing in this presentation may be taken to be a comprehensive statement of any law or practice. This presentation is not intended to provide you with particular advice and in providing this information, we have not taken into account your particular investment objectives, financial situation and your particular needs. You should assess whether this information is appropriate for your individual investment objectives, financial situation or your particular needs, either by yourself or in consultation with your adviser. NAB expressly disclaims any responsibility or liability to anyone who acts or relies upon anything in this presentation, or for any errors or omissions therein. Source: Datastream 2

  3. Australia is a top destination for immigration

  4. What is the Significant Investor Visa program? • Objective of Australia's SIV Program • Attract wealthy individuals to contribute to Australia's economic prosperity • State based applications (will be via Austrade from 1/7/15) • Benefit for SIV Applicants • No language requirement and relaxed age and other criteria • Gain permanent residency at end of four year period • (can extend twice for 2 years) • Note: required to be in Australia 40 days pa or spouse 180 days pa 4

  5. Previous investment regime

  6. How has the program been going? • Program Statistics • Expressions of interest submitted 2,287 • Invitations issued from state nomination 1,972 • Primary applications lodged 1,679 • Primary visas granted 751 • Source: DIBP as at 31/3/15 • Applicants from: • China 89% • Hong Kong 4% • South Africa, Malaysia & Japan 1% each • Applying to: • Victoria 57% • NSW 32% • QLD 5% • WA & SA 2% each 6

  7. New investment regime - proposed from 1 July, 2015 • “Our aim, as part of our broader competitiveness agenda, • is to attract more investment into Australia that makes a material difference to supporting sustainable growth, productivity and job creation. • We are keen to attract additional investment which • supports innovation and which provide new sources • of growth capital.” • Andrew Robb, Minister for Trade and Investment, • October 2014

  8. New complying investment framework • Three Investment Components • Australian Venture Capital Limited • partnership funds • 2. Funds investing in small to micro capitalised companies listed on an Australian exchange • 3. Balancing investment options Venture Capital Balancing Investments Small/micro capital

  9. 1. Australian Venture Capital Limited Partner Funds • $500,000 into ESVCLP or VCLP’s • Why this sector? • Government program - investment in start-up and early expansion businesses • Target sectors include agribusiness, tourism, medical, science and technology • What do they do? • Raise capital of minimum of $10M (maximum $100M for ESVCLP) • Invest in Australian business worth less than $50M ($250M for VCLP) • How do you invest? • Fund terms typically 10 years, investment made over first 5 years • Returns are tax free to investors (can’t use ESVCLP losses) • List of registered funds is on the AusIndustry website Venture Capital 9

  10. 2. Small and micro capital Australian Share funds • $1,500,000 in emerging companies • Australian listed equities with a market capitalisation of less than $500M • Minimum of 20 stocks in the portfolio, with no stock greater than 10% Small/micro capital 10

  11. 3. Balancing Investments • $3,000,0000 into Australian managed funds or LIC’s Corporate bonds Balancing Investments Property (max 10% residential) Listed company shares

  12. What about tax? Investment earnings are subject to tax in Australia • interest income, share dividends, rental income and • gains are taxed on a sliding scale up to 45% over $180,000 • potential tax concessions on gains from Australian shares • ESVCLP/VCLP’s are tax exempt • Note: engage Australian tax advisor to obtain Tax File Number

  13. New Stream: Premium Investor Visa (PIV) $15,000,000 for residency after 12 months • potential applicants referred to Austrade for invitation • Austrade assessment on business skills or aligned to national investment priorities • Philanthropic donations as defined by the R&D tax incentive legislation in medicine, health and agriculture Note: accelerated time frame critical to obtain specialist tax planning advice

  14. What services do SIV Applicants need? NAB Migrant banking - identification & account opening - introduce relationship banker Migration Agent - determine appropriate visa - manage immigration process SIV Applicant and spouse • NAB Private Wealth Advisor • understand objectives • & assess risk profile • - recommend complying investments NAB Private Banker - ongoing banking relationship - transfer funds and transactions Investment Managers - NAB Invest, MLC, JB Were and other specialists NAB Business, Agri, Property - assist with business and other purchases Accountant, Lawyer & other professionals - TFN, annual compliance, tax planning and business structuring

  15. Constructing compliant investment portfolios Balancing investments and emerging shares - NAB Invest boutique managers , MLC funds management and JB Were solutions - Range of third party managers on our Approved Investments List - Other funds can be arranged on request Venture Capital Limited Partnerships - Registered funds listed on AusIndustry website - Facilitate introductions to funds that are currently raising capital

  16. Integrated client service experience • Agent identifies potential SIV Applicant • Engage NAB SIV Concierge Team • NAB SIV Concierge – Migrant Banking, Private Banking and Wealth Advisory • Meet with client to understand objectives and requirements • NAB Wealth Advisory – risk profiling (in mandarin if required) • Understanding Applicants investment preferences • Statement of Advice with recommendation for SIV Compliant portfolio in line with Applicants objectives • Introduction to legal or other business services if required • Provision of 1413 compliance for proposed SIV portfolio to Migration Agent • Investments purchased with funds sourced in line with migration application • Introduction to Accountant for TFN and annual lodgement requirements • Regular investment review over the complying period and other wealth services and professional introductions for moving to Australia

  17. Questions, Comments& Next Steps

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