FOREIGN INVESTMENT

Foreign nationals are able to invest in Australia so long as they comply with Australia's Foreign Investment Policy. The policy has been established to balance community concerns about foreign ownership of Australian assets against the strong economic benefits of foreign investment. Under Australian law, the Government has the power to approve or block investment proposals.

The following types of investment require approval by the Foreign Investment Review Board:

• Acquisitions of residential real estate
• Acquisitions of interests in urban land and commercial property
• Proposals to establish new businesses ($10 million or more)
• Acquisitions of substantial interests in existing Australian businesses
• Investments in the media and broadcasting
• Direct investments by foreign governments and their agencies

Approval under the Government's foreign investment policy is normally only given for a specific transaction which is expected to be completed in a timely manner, generally within 12 months.

The information provided here is intended as a guide only. For more detailed information about foreign investment in Australia, please refer to the Foreign Investment Review Board website.