Australia real estate investment information for the global investor. Australia is among five countries in the world that are bullish on foreign investment and encourage immigration. The Australia Foreign Investment and Trade Policy Division is responsible for ensuring effective representation of Australia’s foreign investment policy and negotiating position on international investment policy issues.
Question: I am a foreign person. Can I invest in Australia?
Answer: Yes. However, whether or not you require foreign investment approval depends on what you wish to invest in. Except in rare circumstances, acquisitions of residential real estate require prior foreign investment approval before the purchase can proceed. Certain acquisitions of commercial real estate also require prior foreign investment approval. Acquisitions of shares or other assets of businesses also require prior foreign investment approval in certain instances based on the size and type of investment. See Official Australia Policy Documents for more information.
Foreign interests are normally given approval to buy:
• vacant residential land, including house and land packages where construction has not commenced (on condition that continuous construction of a dwelling is commenced within 12 months); and
• house and land packages where construction has commenced, home units, townhouses, etc ‘offtheplan’, under construction or newly constructed but never occupied or previously sold. ‘Offtheplan’ sales to foreigners are only permitted for new development projects or extensively refurbished commercial structures, which have been converted to residential, on condition that no more than half the dwellings in a development are sold to foreign interests.
Australia has a prosperous Western-style capitalist economy,
with a per capita GDP on par with the four dominant West European
economies. Rising output in the domestic economy has been offsetting
the global slump, and business and consumer confidence remains
robust. Australia's emphasis on reforms is another key factor
behind the economy's strength. The impact of drought, weak foreign
demand, and strong import demand pushed the trade deficit up
to $14 billion in 2003 from $5 billion in 2002.
The OECD Guidelines for Multinational Enterprises (The Guidelines) provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. |
