The Australian Government's foreign investment policy has been developed to encourage investment in Australia and ensure that such investment is consistent with the needs of the Australian community. The Government recognises the important contribution offshore investment makes to the development of Australia's industry, resources and community.
- A person not ordinarily resident in Australia.
- A corporation, business or trust in which a foreigner and any associates have 15% or more ownership or in which several foreigners have 40% or more aggregate of the ownership.
- A Temporary resident’ including all foreign nationals living in Australia who:
- Holds a valid temporary visa which permits them to stay in Australia for a continuous period of more than 12 months (irrespective of how much time is remaining until that visa expires); or
- Have submitted an application for permanent residency (PR), and hold a bridging visa which permits them to stay in Australia until their PR application has been finalized.
- Foreign nationals purchasing residential real estate as joint tenant with an Australian spouse.
- Foreign companies purchasing second hand dwellings for the use of their Australian based staff provided that they sell or rent the dwelling if it is expected to remain vacant for more than 6 months. There is no limit to number of established dwellings which can be purchased, where required for employee accommodation.
- Foreign nationals being Temporary Residents [i] purchasing:
- An established dwelling to be used as their principal place of residence (not for investment purposes);
- Any new dwellings; and
- Single blocks of vacant residential land (other acquisitions of vacant land will require notification and will normally be approved subject to development within 24 months).
- Foreign students resident in Australia are able to purchase an established dwelling as their principal place of residence. [ii]
click here to view the Foreign Investment Review Board web site.