Foreign investment is essential to Australia’s prosperity. It has helped build Australia’s economy and will continue to enhance the wellbeing of Australians by supporting financial growth.

If you are a foreign person who is planning to invest in assets in Australia, you must:

• apply for the relevant approval to invest before purchasing an asset

• register the asset on the Register of Foreign Ownership of Australian Assets (the Register) using Online services for foreign investors after you purchase the asset

• comply with any ongoing requirements whilst holding the asset, such as lodging an annual vacancy fee return for a residential property.

Depending on the type of investment, you will need to seek approval from either:

• Australian Taxation Office (ATO) – for residential assets

• Treasury Foreign InvestmentExternal Link (previously Foreign Investment Review Board) – for all other investments. These include business, commercial or agricultural land, and mining, production and exploration tenements.

We recommend you seek independent legal advice before applying for foreign investment approval.