Credit Suisse launches SIV products
Credit Suisse Private Banking has launched two new investment portfolios specifically developed for individuals applying for a Significant Investor Visa (SIV) in Australia.
The company is offering two discretionary investment portfolios which it says meet the requirements stipulated by the Government for SIV approval — the SIV Fixed Income Portfolio and the SIV Income Oriented Portfolio.
Credit Suisse head of private banking in Australia, Edward Jewell-Tait, said the SIV was designed to contribute to the economic development of Australia by creating a business and investor-friendly environment.
"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," he said.
Under the Federal Government's new SIV, individuals are able to apply for a provisional visa on the basis of a minimum investment in Australia of $5 million and a permanent visa after holding complying investments for a minimum of four years.
Credit Suisse vice president and head of the SIV Desk, Edwin Tan, said the company's offering provided individuals the choice of a lower risk or a conservative investment portfolio for the duration of the visa.
"These portfolios also 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, US dollar and gold," he said.
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