By Fergus Ryan
Luke Malone, a director at advisory firm Prosperity Advisers, says applicants may start to favour NSW over the other states as funds previously invested in Waratah bonds move to other asset classes. “Applicants may find higher-yielding investments such as SIV-compliant managed funds or active business investments assets more attractive as a result” he says.
David Chin, managing director of BasisPoint and an SIV expert, says the move means investment providers now have a greater incentive to promote NSW, as the Chinese will now have $5m to invest rather than $3. 5m. “It will provide a level playing field between NSW and other Australian states to attract SIV investors,” he says.
Spain, Greece and Portugal are now offering citizenship in return for investments into real estate of over €500,000, says Jonathan Sykes, a partner at Premium Finance Group in Beijing. “Others like Hungary offer almost instant permanent residency in exchange for investments in Government bonds,” he says.
Read more here: Business Spectator