Australia presents as a very attractive market for foreign investors and expats.
There are rules you need to be aware of & many of these are outlined below.
Hatch Property is here to assist Foreign Investors and expats buy property that is compliant and serves their purpose well.
With many years’ experience, Hatch Property is well positioned to provide you with an excellent result.
We work closely with our clients to assist them to understand the changing Australia market, where, what and how to buy for success.
Understanding our client’s specific reason for buying and the desired outcome, allows us to ensure they buy the correct property to achieve their desired goal.
It is important the correct structure is in place to capitalise the best outcomes with Australian taxation laws.
Non-resident foreign persons are generally prohibited from purchasing established dwellings in Australia.
An established dwelling is a dwelling (except commercial residential premises such as hotels, motels and caravan parks) on residential land that is not a new dwelling.
Temporary residents will normally be allowed to purchase only one established dwelling to live in as their residence (home) in Australia, subject to the conditions that they:
Temporary residents are not permitted to purchase established dwellings as investment properties, or rent out, or as holiday homes.
Foreign controlled companies are generally prohibited from purchasing established dwellings, although foreign companies with a substantial Australian business may be permitted to acquire established dwellings for the purpose of providing housing for their Australian based staff.
Although foreign investors are not allowed to buy existing homes, they can buy new properties, off-the-plan apartments and vacant land. If you're a non-resident foreigner and you want to buy any residential property in Australia, you will first need to obtain approval from The Foreign Investment Review Board. (FIRB).
Visa conditions change with Government Policy and are regularly amended. Education Visas can be very attractive for Non-Residents and impact the terms on which you can purchase property. Stay current by checking the relevant website. This link will assist the different Visas available. Changes are often made so ensure you stay updated.