ANZ supports overseas investment into Australia through its new SIV solution
ANZ Private today launched its Significant Investor Visa (SIV) solution, which is designed specifically for individuals who have a minimum of AU$5 million for investment in Australia.
Launched in 2012 as an Australian Government initiative, the SIV program aims to bring investment into the Australian economy, while providing an avenue for migrant investors to come to Australia.
ANZ Global Wealth CEO Joyce Phillips said: “We’re pleased to launch our Significant Investor Visa solution which has been designed specifically by our Private Bank business for individuals who have a minimum of AU$5 million for investment in Australia.
“Our aim when delivering wealth solutions to our customers is to understand their values, aspirations and needs in order to meet their holistic banking needs. ANZ’s new significant investor visa solution therefore has been specially developed based on the needs of migrant customers, to help them make the most of the investment opportunities that coming to Australia can bring,” Ms Phillips said.
ANZ’s SIV product meets the new visa class rules in Victoria, NSW, Queensland and WA and will offer its customers:
- A choice of two Australian equities portfolios managed in a tax aware manner;
- Retention of beneficial ownership of the assets held in the account, to avoid incurring inherited tax consequences that may arise with traditional unitised trust structures;
- 24/7 online account access to transaction activity, investment valuations, performance and tax reporting; and
- Disciplined portfolio construction that takes into account long term market trends.
ANZ will also offer SIV applicants additional specialist banking services through its Asian Private Banking team who are based in each major state across Australia.
“We've been operating in Asia for more than 40 years and since then we’ve developed specialist capabilities that are unique to the region and our customers.
“Many of the staff members in this team are migrants themselves, so they have a strong knowledge of overseas cultures, they can speak to clients in their language of choice, and have strong empathy for the challenges of new arrivals,” Ms Phillips said.
For more information on ANZ’s Significant Investor Visa investment solution, please visit anz.com