Credit Suisse Private Banking has launched two new investment portfolios, which are developed specifically for Significant Investor Visa (SIV) applicants.
The private bank has also established a dedicated SIV desk, which is specifically focused on inbound enquiries, with staff that are fluent in Mandarin and Cantonese.
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The SIV is a permanent residency visa launched at the end of 2012. To qualify, potential applicants must invest $5 million or more into complying investments for a minimum of four years prior to applying for permanent residence.
Edward Jewell-Tait, Credit Suisse’s head of private banking in Australia, said: "The SIV is designed to contribute to the economic development of Australia by creating a business and investor-friendly environment, and we are glad to bring our expertise to the fore in this regard.
"We are working with staff in our various global locations to leverage our existing Private Banking network, and introduce the SIV investment portfolios to existing and prospective clients interested in investment and residency in Australia."
Credit Suisse has produced two discretionary portfolios, which meet the requirements stipulated by the Australian Government’s Department of Immigration and Citizenship (DIAC).
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By GlobalDataThe SIV Fixed Income Portfolio is made up of 100% Australian government bonds and liquidity, while the SIV Income Oriented Portfolio combines 75% government bonds and liquidity with 25% Australia equities. The SIV desk will be led by Credit Suisse vice president Edwin Tan.
Tan said: "These portfolios provide access to cash flow flexibility via margin and property loans through the Credit Suisse platform, capable of holding all tradable currencies including the Renminbi, Hong Kong dollar, U.S. dollar and gold."
