Changes to foreign investing in Australia

May 11, 2020

Share this

Not sure where to start?

Get in touch with our team to help you answer any questions you might have.

The Government has recently announced changes to the approval process for foreign investment in Australia in response to the unfolding COVID-19 pandemic.

As at 10.30pm on Sunday, 29 March 2020 the threshold for the Government reviewing foreign investment has been reduced to zero. The result of this policy change is that any foreign investment of any foreign investor which is proposed to take place within Australia, and is subject to foreign investor legislation, will require approval of the Australian government.

The Government has cited the reason for implementing this new policy is to protect the national interests of Australia within a time of economic change. The Government has further stated that the policy change will not result in an investment freeze and the Government will continue to review applications for foreign investment.

Following the announcement for the policy change, the time frame for the Foreign Investment Review Board to review applications will increase from thirty days to six months. It is expected that the policy will be revised pending the passing of the COVID-19 pandemic.

The Foreign Investment Review Board will refund any application fees in the event that a foreign investor wishes to withdraw its application as a result of the current economic conditions.

If you require further advice or assistance in relation to foreign investment approval and how the new policy may affect your application, please contact Dean Woodbridge (dwoodbridge@clw.com.au) or Sam Saad (ssaad@clw.com.au) on (02) 9279 4888.

This article is intended to be general advice only. We always recommend that you obtain advices in relation to your personal circumstances.

Share this

The latest from the blog

Security for Loans: Mortgages v Caveats

Security for Loans: Mortgages v Caveats

Security over Real Property When a party is seeking a loan from a lending institution such as a bank or a private lender, the lending institution will often require a registered form of security for their loan against an asset of the borrower. This security is the...

CONTRACT FOR SALE OF LAND AND COVID19 PROVISIONS

CONTRACT FOR SALE OF LAND AND COVID19 PROVISIONS

For many it is a time of uncertainty when buying and selling property in this current market, but the right guidance and advice will help you navigate these unchartered waters. When selling, a well-drafted contract is essential in order to set out the Vendor's legal...

We make things easy, efficient and worry-free. Talk to us today.

Liability limited by a scheme approved under Professional Standards Legislation.

Discover your legal pathways

Speak to a member of our team.