New opportunities, fresh horizons   It’s no surprise Australia is a sought after destination in which to live, work and raise a family. It’s a nation offering a wonderful climate, an outstanding lifestyle, and more recently, the Australian economy has pulled off a rare feat, weathering the global downturn remarkably well. But settling into a new country still presents challenges, and the sooner life’s essentials are in place, the easier the transition becomes.   Money matters play an integral role in our lives, and having key financial products in place at an early stage is an important part of a trouble-free move. Fundamentals like setting up a local bank account, acquiring vital lines of credit and arranging a home loan, which may be quite straightforward in your country of origin, can seem a little more challenging in a new land.   A sound banking system Fortunately Australia has an extremely strong and well-regulated banking system. Nonetheless it makes sense to choose your financial institution with care. The breadth of services offered by financial institutions ranges from traditional facilities through to a broader range of wealth management, financial advice and even insurance products.   Opting for a bank offering a wide spectrum of products and services will let you benefit from the convenience of a ‘one stop shop’, as well as gaining holistic advice and in some cases, exclusive discounts on financial products and services.   A shared global outlook Along with locally based banks, Australia is home to a number of foreign banks. As a new arrival there can be benefits in partnering with a global bank offering facilities such as foreign currency accounts, international offices and a trans-continental outlook, all of which can be especially useful to expats or migrants.   In a 2008 expat survey¹, 60 per cent of respondents said partnering with a global bank can make for a smoother ride. Some of Australia’s international banks can organise a transfer of your credit history. This can be a significant helping hand, letting you get started with a credit card, personal loan, car loan or mortgage prior to your arrival. It’s also worth asking about ‘pre-arrival’ account opening, which sees a bank account ready and waiting for you on arrival. It’s an exceptionally convenient option at a time when you already have a great deal to arrange.   Staying in touch Even once you’ve settled into Australia, it’s likely that you’ll retain connections to your original homeland. There are worthwhile financial products available that let you to stay in touch with foreign investments, family and even overseas business interests. A Multiple currency account for example, can help you remain connected with your origins, while also being an investment in their own right.   Fresh opportunities As a young and diverse nation, Australia offers an abundance of opportunities for wealth creation. Investors can choose from local asset classes or tap into global markets. Once again this is an area where a global financial institution can offer specialised assistance, combining local knowledge with first-hand insights into international markets. Look for an institution offering the support of personal relationship managers. This will give you important one-on-one support while you familiarise yourself with the workings of the local financial sector.   On a longer term basis, the assistance of a relationship manager lets you focus on enjoying your life in Australia, knowing work is being done behind the scenes to build your wealth. Some International banks operating in Australia such as Citibank with more than 100 offices throughout the world, know what it’s like to arrive, and thrive, in a new country. With a comprehensive range of financial services, Citibank’s global facilities and the support of professional relationship managers, means they can share the journey with you, making the transition smoother and helping you make the most of your new life in the land down under.   Information Supplied by: Citibank Pty Limited Phone: +61 2 8225 0615 Website: www.citibank.com.au