04/07/2013 - 14:01

New fund targets immigrant investors

04/07/2013 - 14:01

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Prominent Perth business identity John Garland has officially launched a new investment fund aimed at international entrepreneurs and business people keen to move to Australia.

The fund offers a tailored investment product for WA migrants through the federal government’s Significant Investor Visa Program, under which high-net worth individuals can obtain residency by investing $5 million or more in complying funds over a minimum of four years.

Mr Garland, who is the son of Garland International founder and Perth property identity John Garland, launched the fund during a visit to China this week.

“This is a massive opportunity for WA,” Mr Garland said. “Other states have been aggressively chasing SIV applicants, however I believe Western Australia’s more pragmatic approach will now pay dividends as we have been able to gain a better understanding of what these investors are seeking.

“As a consequence, we have been able to structure an investment product that suits their needs.”

Mr Garland said he expected the fund to attract around 70 applicants over the next 12 months .

“While it seems like a small number of people, the potential to make a very significant contribution to our state cannot be underestimated,” he said.

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