Tax, immigration and finance advice for new Significant Investors visa in Australia

by Ray Clancy on December 21, 2012

in Money, Business and Finance

Tax, immigration and finance advice for new Significant Investors visa in Australia

Top class advice is available for investors and business owners to get the best from the new Significant Investor visa that was introduced in Australia last month. The four year provisional subclass 188 visa can be issued to foreigners who invest AUD5 million into approved investment funds including ASIC funds, state government bonds and proprietary operating companies.

The subclass 188 visa holds a residence requirement of 160 days spent in Australia over four years and holders can then apply for a subclass 888 permanent residency visa or extend the subclass 188 visa. The visa is part of the government’s Business Skills Programme and has been described as one of the most innovative initiatives in this area in recent years.

All of the business visas in the Business Skills Programme require the interest and support of a state or territory government in Australia. They also require an investor or business owner to have a sound appreciation of the business environment in the country and plans regarding any proposed commercial activity in Australia.

KPMG’s immigration services said that it can help investors and business owners ensure all visa requirements are considered when pursuing business opportunities in Australia.  The company has tax professionals and a Migration Advisory team that can assist clients to satisfy the requirements of Visa 188 and advise them through the entire process. A spokesman said that potential language barriers or unfamiliarity with local business customs and commercial practices can be challenging when considering a foreign investment.

‘We have professionals who are specialists in providing immigration advice and assistance. Our registered migration agents work with investors and business owners for all visa requirements,’ he explained, ‘This includes determining whether temporary visas are needed for pursuing business opportunities in Australia. Our immigration professionals also work closely with our tax professionals throughout the process’.

Quote from AustraliaForum.com : “Hi guys! I was just wondering if any of you were tax experts because I have questions about how, exactly, to file US taxes from Australia and if we’re going to have to pay taxes on wages my husband is making here that he’s already paying taxes on (to Australia). Any help here would be appreciated! “

A visa application can raise a number of issues for investors and business owners including the best way to structure finances, residency, income tax, and finance security. ‘We work with people to get an understanding of what they want and introduce them to tax, financial and legal advisers. We also explain the options offered in each State and territory to help align investment plans with the visa requirements, the spokesman added.

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