AUSTRALIA is giving away cash grants and numerous tax breaks to lure multinationals to the continent.
In an aggressive bid to promote itself as a cost-effective location for regional headquarters, both federal and state governments will waive certain taxes for financial and information technology companies.
It will also streamline immigration procedures for relocating staff from October 1.
Previously, the government worked with companies on an individual basis to fast-track executives through the immigration process.
The federal government is willing to give multinationals upwards of A$50,000 (about HK$284,000) towards the cost of studying the feasibility of an Australian site. This amount is expected to be equally matched by the state government.
Companies must commit at least $100,000 to the study.