Praemium SMA gets SIV green light
Praemium has issued a declaration in support of the government’s Significant Investor Visa (SIV) program, announcing that its SMA platform qualifies as a complying investment under the rules of the immigration scheme.
More than 400 applications for an SIV have already been lodged with the Department of Immigration and Citizenship, with 90 per cent of these coming from mainland China, according to research by law firm Baker & McKenzie.
“These applicants are generally highly sophisticated investors,” Varlamos said. “They are based offshore but know the Australian stock market and value the ability to see those well-known Australian shares in their portfolios.”
Praemium is currently working with partners to assist clients in applying for the SIV.