05/09/2018
States chase migrants to deliver small business boom
Cashed up migrants are increasingly driving small business in Melbourne and Sydney as competition heats up for lucrative investment dollars. Victoria is outstripping NSW three-to-one for nominations in the business and innovation visa category, Department of Home Affairs figures show, which requires migrants to invest up to $500,000 in a business in Sydney or $400,000 in Melbourne. There was a 58 per cent increase
Rich South Africans are paying big money to move to Australia
More than 7,260 millionaires emigrated to Australia in the past year, delivering a multi-billion dollar investment boost. This is according to a new report by the Sydney Morning Herald, which found that visa applications in the Business Innovation and Investment Programme had jumped by 74% in 2016-17 up from 5,781 to 9,051. This includes investors with more than AUD$1 million (R9.9 million) in business assets –