I am seeking a fund manager in Australia to satisfy the SIV requirements. Are there particular qualifications that the fund manager must meet to work with investors in the SIV program?
A fund manager must be a Listed Investment Company (LIC) that invests in Government-interested fields. Now, they are infrastructure and startups. Real estate based funds are limited to 10%.
Investments must be administered through an Investor Directed Portfolio Service (IDPS). The IDPS will be regulated by the Australian Securities and Investment Commission (ASIC), as is required under the Significant Investor Visa and Premium Investor Visa legislation. A Fund Manager should be a licensed financial adviser who specializes in the Significant Investor Visa so that they are familiar with the process for compliance.
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