Welcome Overseas Investors

We hope this brief summary can give you an overview relating to your interest in acquiring residential real estate in Australia. Australia encourages overseas Investors to purchase homes, apartments and property in Australia.

Australian Property is an easy asset to maintain from overseas. At real estate @ work, we are well experienced in assisting overseas Investors to purchase property. We also arrange the management of the property on your behalf by appointing qualified Property Managers to obtain tenants and fully manage the Property.

Government legislation ensures that the Tenants and Landlords rights are protected by law. Most Property purchased in Australia is Freehold Title.

Please note the material presented below provides general information only - non advisory

Foreign Purchasers Information

Foreign purchasers intending to acquire real estate in Australia must seek prior approval from the Government through the Foreign Investment Review Board unless specifically exempted by the Foreign Acquisitions and Takeovers Regulations. www.firb.gov.au

Exemptions include:

acquisitions by Australian citizens resident abroad;

Acquisitions of property zoned residential by foreign nationals who hold permanent resident visas or hold, or who are eligible to hold, a 'special category visa' (i.e. a New Zealand citizen);

And foreign persons purchasing, as joint tenants, with their Australian citizen spouse property that is zoned residential.

Under the Act, a foreign person is:

A natural person not ordinarily resident in Australia;

A corporation in which a natural person not ordinarily resident in Australia or a foreign corporation holds a controlling interest (that is, a holding of 15 percent or more);

a corporation in which 2 or more persons, each of whom is either a natural person not ordinarily resident in Australia or a foreign corporation, hold an aggregate controlling interest (that is, a total holding of 40 percent or more);

The trustee of a trust estate in which a natural person not ordinarily resident in Australia or a foreign corporation holds a substantial interest;

Or the trustee of a trust estate in which 2 or more persons, each of whom is either a natural person not ordinarily resident in Australia or a foreign corporation, hold an aggregate substantial interest.

All contracts of sale to purchase residential real estate by foreign interests must be made conditional on foreign investment approval and must allow at least 30 days for a decision to be granted by the controlling body.

Once any of these FIRB conditions have been fulfilled, there shall be no restriction on the subsequent use of the property by the foreign investor. This means that you can rent the property or sell it whenever you choose.

Purchasing Guidelines

“Australian Citizens and Permanent Residents can acquire any property in Australia."

“Foreign Nationals can purchase:"

1. New Property
2. Residential Projects or Apartments - up to 50% of the total project can be 
    purchased by foreign nationals.
3. Vacant Land - only if construction begins within twelve months of purchase.
4. Established Property - only if an additional amount of no less than 50% of the
    original property cost is spent on an additional construction (consent of FIRB is
    required).

Who should apply?

All proposed purchases of residential real estate should be submitted to the governing body, regardless of the value of the particular property, unless the purchaser is an Australian citizen, permanent resident or a foreign national entitled to "special category visa" (such as a New Zealand citizen) and subsequently purchasing in their own name. Other people wishing to purchase residential real estate (including temporary residents, or companies with foreign shareholders or trusts with foreign management and/or beneficiaries) must apply before to the Government through the Foreign Investment Review Board for approval prior to initiating proceedings.

To make an application for approval to purchase residential real estate, write to the below address or call us for additional support.

For Further Enquiries

1. For application forms to purchase real estate, as well as other related information, please visit the Foreign Investment Review Board webpage 
at,  www.firb.gov.au

2. By Phone on:

General enquiries: 

Phone: 02 6263 3795
Fax: 02 6263 2940
Email: firb@treasury.gov.au
Web: firb@treasury.gov.au

From overseas: 

Phone: +61 2 6263 3795
Fax: +61 2 6263 2940

3. By Mail on:

The Executive Member
Foreign Investment Review Board
C/- The Treasury
Langton Cresent
Canberra ACT 2600
Australia