• Home
  • About
    • Buyers Agent
    • Our Company
    • How We Are Different
    • Our Team
  • Who We Help
  • Experience
    • Past Purchases
    • Testimonials
  • Services
  • Resources
    • FAQ
    • Getting a Loan
    • Assistance for First Home Buyers
    • Selling Advice
    • Australian Foreign Investment Policy
    • Calculators
    • Links
  • News
    • Media Mentions
    • Facebook
  • Careers
  • Contact
OH Property Group
Call us  +61 2 8901 4818
  • Facebook
  • Twitter
  • Instagram

Home  /  Resources  /  Australian Foreign Investment Policy

Australian Foreign Investment Policy

As of 26 May 2010, the Government requires temporary residents to seek FIRB approval before acquiring residential real estate in Australia.

Investment by foreign persons in residential and commercial real estate is regulated by the Foreign Investment Policy Division of the Australian Government Treasury.

The approach taken by the Australian Government is to encourage foreign investment that is consistent with community interests and concerns, while balancing this with the economic benefits to Australia that arise from such investment. The Australian Government thus has the policy that steers foreign investment in residential real estate to increase the housing stock in Australia and that monitors larger scale investment in commercial real estate.

Generally, foreign persons must apply to the Foreign Investment Review Board (FIRB) before making any real estate investments in Australia. Please see the below to better understand whether you would need to apply for FIRB approval.

Residential Real Estate

You do not need to apply for FIRB approval if you are:

  • An Australian citizen living in Australia or living abroad;
  • A foreign national holding permanent resident visa or eligible to hold a ‘special category visa’ (such as a New Zealand Citizen); or
  • A foreign national purchasing as a joint tenant with an Australian citizen spouse.

If you do not meet the above criteria you may still purchase new dwellings with FIRB approval if:

  • The dwelling has not previously been sold (by the developer), and the dwelling has not been occupied for more than 12 months; or
  • The dwelling has been granted advanced Off-The-Plan Approval by the FIRB; or
  • The dwelling is acquired for the purpose of redevelopment (that is, to demolish the existing dwelling and build new dwellings); or
  • You are a temporary resident acquiring the property as your place of residence (in which case you must usually sell the dwelling when it ceases to be your residence).

The definition of new dwellings includes dwellings that have been extensively refurbished and undergone conversion from non-residential to residential.

The definition of temporary residents includes all foreign persons living in Australia who:

  • hold a temporary visa permitting continuous stay in Australia for more than 12 months; or
  • have submitted an application for PR and hold a bridging visa permitting stay until such PR application is finalised.

Commercial Real Estate

Your acquisition may be exempt if the property is:

  • For non-US and non-New Zealand investors, commercial property valued less than $54 million or heritage property valued at less than $5 million;
  • For US and New Zealand investors, commercial property valued less than $1078 million; or
  • A property that is to be used immediately for industrial or non residential commercial purposes by the purchaser and the purchase is wholly incidental to the purchaser’s business activities;
  • Purchased from the Government (Commonwealth, State, Territory or local)

Note that the Foreign Investment Policy specifies that acquisitions for above $50 million are normally approved unless considered contrary to national interest.

Vacant Land

FIRB normally approves applications for acquisitions of vacant land (which are not single blocks) if:

  • Continuous, substantial construction will be undertaken within 24 months;

FIRB normally approves applications for acquisitions single blocks of vacant land if:

  • Continuous, substantial construction will be undertaken within 24 months.

Application Forms

Please follow the link below to view and access the relevant application forms to be submitted if you require FIRB approval.

 Residential Real Estate
 Commercial Real Estate

Put Yourself Ahead

We give you the edge to buy the right property quickly and intelligently. What are you looking for?

Complete our Property Brief

Past Purchases

  • View Property
  • View Property
  • View Property
  • View Property
  • View Property
  • View Property

Newsletter

Subscribe to our Newsletter using the form below.

Sending

In the Media

Making money from flipping property (Part 2)

Published in Geared for Growth on October 10, 2022

Read More

Latest from Facebook

  • OH Property Group - Buyers' Agents
    OH Property Group - Buyers' Agents
    Photos from OH Property Group - Buyers' Agents's post HAPPY 2023!
    It might only be the 12th of January and people are still on holiday-mode. But our team has done 3 settlements already in 2023! Including our clients who are moving into this immaculate h ...
  • Read More

    What Our Clients Say

    • Henny and Oliver moved quickly to help us to secure the property at a great price. This was before the house has even been listed for sale. I have no doubt that it would have sold for a much higher price had it been put on the market.

      E. Yeo

      Read More
    • They proved themselves spot on with their estimates of the expected sales prices of properties we viewed.

      C. Chu & A. Siu

      Read More
    • Oliver is a person with high integrity who always has the client’s best interest as a priority.

      C. de Salazar & J. Martin

      Read More
    • Your knowledge and expertise in what you do is incredible and the enthusiasm in which you put into your work is so evident in everything you do.

      T. & S. Tifa

      Read More
    • We felt like we were on the winning team from the time we called them. I just wish we had done it earlier!

      N. & J. Murray

      Read More
    • It was like watching a chess game unfold and Henny was able to think several steps ahead and take control of the negotiation process. It was nice to be in the driver’s seat for a change.

      R. & S. Chappell

      Read More
    • Having a buyers’ agent represent us at auctions helped relieve a lot of our stress. It was great to finally have an upper hand at an auction situation for we had the best people working for us.

      M. & M. Ng

      Read More
    • The property we ended up buying had 17 contracts out on the first open house inspection. Henny knew how to get us to the finish line by positioning us correctly and having an open communication with the real estate agent.

      Y. Cho & D. Wong

      Read More
    • We have bought three other properties on our own before. However, compared to our past purchase experiences, this time it was so much easier.

      A. & B. Sengphachan

      Read More
    • We were advised to let the Auction for our new house pass-in and in the end, we acquired the property for $165,000 below the Vendor’s Bid at auction. This savings means the Buyers’ Agent fees essentially paid for themselves multiple times over.

      S. Lam

      Read More
    • In an industry rife with ethically challenged real estate agents it has been a real relief to have a buyer’s agent who possesses such a strong sense of ethics.

      D. Stewart

      Read More
    • OH Property Group was proactive, efficient, and always available during each step of the buying process. During our search we never felt rushed in making any irrational decisions and were able to digest all information in our own time.

      S. & R. Reyes

      Read More
    • Oliver was thorough, considered, and he took time to understand our situation and tailored his approach accordingly.

      C. Tollemache & P. Anderson

      Read More
    • OH Property Group’s professionalism and tireless work ethic achieved the impossible in an impossible time frame. Without their help, I wouldn’t have even looked at the property I ended up buying.

      P. Christensen

      Read More
    • We were very impressed by their dedication, excellent service and attention to detail. Their expertise and advice are invaluable and gave us great comfort to know that one of our biggest financial purchases was a sensible one.

      J. & A. Surjadi

      Read More
    • Watching Oliver strategize throughout the process was like watching a beautiful piece of art – he made so many moves which ultimately resulted in significant savings for us, not to mention a very smooth and relaxed process.

      J. & C. Budge

      Read More
    • To think that we could have bought an ill fitting house for too much money and with possible regret, it’s really made us feel relieved that we have used your services to find the perfect house for us and at good value too.

      O. & C. Valentine

      Read More
    • Without their help it is unlikely that we would have even inspected the apartment we bought, and not only does it meet all our needs but the purchase price was at the lower end of our budget.

      D. & W. Watson

      Read More
    • We are truly happy with our new home. We were able to get a better price than if we had acted alone. OH Property Group’s professionalism and experienced negotiation tactics really landed us with the best outcome.

      J. & V. Wu

      Read More
    • More than making sure we were paying a fair price, Henny and Oliver asked us the right questions to understand what we valued in a property as a couple. They also took into consideration the stage of life we are in and our plans for the future.

      H. Ma & S. Wu

      Read More
    • We found the experience of using a buyers’ agent to be very liberating. It took a load off our minds. It was definitely money well spent and we would definitely recommend your services to others!

      P. & A. Wong

      Read More
    • It was a big weight off our shoulders to know that an experienced agent was bidding on our behalf at the auction which minimised the stress of the day. We feel very satisfied that we have made a good investment in a great area.

      S. & T. Seton

      Read More
    • Our Buyers’ Agent took away all the guesswork, did all the investigation and due diligence and presented us with everything we needed to know in order to make a well informed decision.

      E. Huang

      Read More
    • Oliver represented us at the Auction, let it pass in and then negotiated a price much lower than what we had been willing to pay.

      J. Chang & L. Truong

      Read More
    • I feel that Oliver and Henny were completely honest and open, working with only my best interests at hand.

      J. Mak

      Read More
    • The negotiation process was handled in a highly skilled, efficient and impressive manner and the property secured at the right price within a matter of days despite the competition.

      T. & D. Colwell

      Read More
    • From the moment we started working with Henny, her dedication to her clients became clear. We always found her to be incredibly insightful, thorough and trustworthy. In all things, she truly went above and beyond for us.

      J. & A. Pearce

      Read More
    • You reacted quickly at any time of the day to my requests for further information and appraisal and I believe that you understood my needs and could be trusted to provide reliable information.

      J. Gulley

      Read More
    • Our Buyers Agents were able to provide important advice about the manner in which we should communicate with the Vendor in order to make an offer on the property clearly and confidently – despite our offering well below the asking price.

      A. McConnachie & S. Wrangham

      Read More
    • Once the search started, we were really impressed by the frequency and quality of the communication, as well as the responsiveness to any questions we had.

      J. Tyler & L. Morphett

      Read More
    • About
      • Buyers Agent
      • Our Company
      • How We Are Different
      • Our Team
      • Best Practice Guidelines
    • Who We Help
      • Experience
      • Past Purchases
      • Testimonials
    • Services
      • Property Management
    • Resources
      • FAQ
      • Getting a Loan
      • Assistance for First Home Buyers
      • Selling Advice
      • Australian Foreign Investment Policy
      • Calculators
      • Links
      • Service Providers (Password Required)
    • News
      • Media Mentions
      • Facebook
    • Careers
    • Contact
      • Property Brief
      • Login

    PO Box 274
    Chatswood, NSW 2057

    • Follow @ohproperty