We guide foreign purchasers through the complex approval process of obtaining FIRB approval of property in Australia, the conveyancing process and structuring advice.
As a foreign buyer, if you are looking to purchase property in Australia, there are complex foreign investment regulations and laws that can make it challenging and costly to invest in Australia.
What is FIRB?
FIRB is an acronym that stands for Foreign Investment Review Board. It is a non-statutory body that advises the Treasurer and the Government on Australia's Foreign Investment Policy.
experienced property lawyers can guide you through the process of obtaining approval by the Foreign Investment Review Board (FIRB).
When do I need to lodge an application with the Foreign Investment Review Board (FIRB)?
Under Australia's foreign investment framework, a 'foreign person or persons' may need to lodge an application with the FIRB for approval prior to purchasing any property in Australia. This includes new dwellings, established dwellings to live in, real estate to redevelop, off-the-plan properties and any vacant residential land.
Can I apply to the FIRB without a lawyer's assistance?
Due to the complex nature of the information required and the application process we would recommend that you seek the advice of an experienced property lawyer for your FIRB application. You can however apply to the FIRB without engaging a lawyer.
Our property lawyers provide specialist advice on the costs involved in an acquisition including FIRB approval, stamp duty and ancillary costs. Our team provides you with strategic advice on the best way to structure your acquisition and we can assist you in establishing that structure.
We can provide you with advice on the Contract of Sale so that you understand the terms and your obligations. Our team helps you achieve a successful outcome by undertaking due diligence at the outset and advising you in a clear and timely manner to give you peace of mind that your acquisition in Australia will satisfy Australian laws.
Foreign investment advisory service to assist foreign purchasers
- Advice on Foreign Investment and Takeovers Act 1975
- Foreign Investment Review Board (FIRB) approval applications
- Property and planning due diligence
- Advice on Contract of Sale and Vendor’s Statement (Section 32)
- Structuring advice and implementation
Our Property & Property development lawyers have extensive experience in dealing with all aspects of property, real estate and property development law. Our team of property lawyers, including an accredited specialist have assisted many clients with their property needs including advice regarding foreign investment.
If you have any questions about foreign investment, your property development or would like to find out how our property lawyers can assist you please don’t hesitate to contact our office on +61 3 9822 8588.