The Foreign Investment Review Board (the Board) is a non-statutory body which advises the Treasurer and the Government on Australia’s Foreign Investment Policy (the Policy) and its administration.
The Board’s functions are advisory only. Responsibility for making decisions on the Policy and proposals rests with the Treasurer. The Treasury’s Foreign Investment and Trade Policy Division (the Division) provides secretariat services to the Board and is responsible for the day to day administration of the arrangements.
The role of the Foreign Investment Review Board, including through its secretariat, is to:
Foreign citizens living overseas will require FIRB approval before buying an investment property in Australia. Australian citizens, New Zealand citizens and permanent residents are not required to obtain FIRB approval to invest in real estate. For temporary residents (greater than 12 months), FIRB approval is not required for most types of real estate investment.
Our specialised team of property lawyers, immigration lawyers and registered migration agents regularly act for clients to advise on or obtain FIRB approval for many different types of properties and investment ventures throughout Australia. We understand how the FIRB works and will guide you through the complex FIRB approval process and advise whether you require FIRB approval or whether an exemption might apply.
Contact our team today to speak with our team regarding the Foreign Investment Review Board application process or if you are considering investing in Australia.
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