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Non-residents may invest in Australian property by direct ownership of the property from offshore, or through interposed companies, partnerships or unit trusts (either resident or non-resident).
Many investments in Australian commercial property by non-residents do not require government approval. However, investment approval will be required from the Foreign Investment Review Board (FIRB) if the value of the property exceeds AUD 53m (or AUD 5m for heritage properties) or if the acquisition is of shares or units in an entity that is land rich. Any acquisition by a foreign government (which is widely defined), requires FIRB approval. FIRB rarely withholds approval except when the acquisition is of residential property or vacant land.
Non-residents may invest in Australian property by direct ownership of the property from offshore, or through interposed companies, partnerships or unit trusts (either resident or non-resident).
Many investments in Australian commercial property by non-residents do not require government approval. However, investment approval will be required from the Foreign Investment Review Board (FIRB) if the value of the property exceeds AUD 53m (or AUD 5m for heritage properties) or if the acquisition is of shares or units in an entity that is land rich. Any acquisition by a foreign government (which is widely defined), requires FIRB approval. FIRB rarely withholds approval except when the acquisition is of residential property or vacant land.
Source : PWC
