We recently commenced a campaign to remind foreign investors of their statutory reporting obligations.
Those who were granted a No Objection Notification (NON) or Exemption Certificate (EC) in the first half of 2021 were contacted to remind them that from 1 January 2021, all foreign investors who are given a NON or EC must notify us no later than 30 days after taking each specified action.
These actions commonly include (but are not limited to) acquiring interests in:
- securities in an entity,
- assets of an Australian business, or
- Australian land (except for residential or commercial land).
More detailed information regarding the reporting of actions is available. Investors may need to seek independent professional advice to better understand their specific obligations.
Investors must be aware that penalties apply for failing to notify of taking an action specified in a NON or relating to an EC.
If you have any questions you can email us at FIRBNotifications@treasury.gov.au