Depending on your circumstances, you may require permission from the Australian Foreign Investment Review Board prior to investing in Australian property.
Persons that meet certain criteria do not need foreign investment approval before purchasing residential real estate in Australia. This includes:
- an Australian citizen (regardless of whether they are ordinarily resident in Australia or not);
- a New Zealand citizen;
- the holder of an Australian permanent visa; or
- foreign persons purchasing property as joint tenants with their Australian citizen spouse, New Zealand citizen spouse, or Australian permanent resident spouse.
- This exemption does not include purchasing property as tenants in common.
For more information, we encourage you visit the FIRB website.