Monday, 21 September 2020 11:04

Migrant business, investment visas help to counter lack of domestic capital

Guy Hedley, Executive Chairman Atlas Advisors Guy Hedley, Executive Chairman Atlas Advisors

The Australian Government’s reissuing of 188C Business Innovation and Investment visas and allocation of interim places to high net worth migrants prior to the Budget will assist Australian businesses and entrepreneurs to counter the lack of availability of domestic capital investment, according to one advisory firm.

Wealth manager Atlas Advisors Australia has commended the Government and the states and territories - including the important business centres of NSW and Victoria - for taking the "important step" of opening their doors to applicants ahead of the Budget and says it has already seen a “dramatic increase in interest from high net worth migrant investors including from destinations such as Hong Kong”.

“We commend the Australian Government and the states and territories for recognising the important role business migration plays in driving our economy,” Executive Chairman of Atlas Advisors Australia, Guy Hedley said.

“This will have a tremendous impact on the post-pandemic recovery of business. It will assist Australian businesses and entrepreneurs to counter the lack of availability of domestic capital investment.

“We encourage the Australian Government to go further by prioritising its review of the BIIP to maximise the benefits to the economy in a post-pandemic era.

“Hong Kong is a vibrant business destination with many rich and highly experienced entrepreneurs and business people.

“These migrant investors are keen to help stimulate business and employment through ventures in their new homeland.”

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