01 Aug Foreign Investment in Australia
Foreign Investment in Australia
Investing in Australian Real Estate
Foreign investment in Real Estate is welcomed in Australia, however there are certain rules that all investors must abide by. Every case is reviewed by the Australian government to ensure that the national interest of Australia takes first place. It has been mentioned many times in the media of late that some countries are buying land that does not have the best interest of Australia and our citizens.
Set up in 1976, the Foreign Investment Review Board ensures that all real estate acquisitions are appropriately reviewed at an advisory level. The board advise the Treasurer and the Government as to the best way forward with all applications, however the government in turn has the final say on all investments. The applications take 30 days to be assessed and an applicant will be informed within 10 days of the final decision.
With regards to Foreign Investment in Australia, all investors are encouraged to use a licensed Real Estate agent also being a member of a professional Real Estate Institute. This will enable to the applicant to have peace of mind and knowing that the rules have been followed. Of course stamp duty is payable at the sames rate as that for Australians, also differing rules apply for residents versus non residents.
To find out more about Foreign Investment in Australia please contact us today by email firstname.lastname@example.org or phone on (02) 97085 5954