The Treasurer has announced changes to Australia’s foreign investment review framework, effective from 10.30pm AEDT on Sunday 29 March 2020, relating to monetary thresholds and timeframes for reviewing applications. Details are available in our Guidance Note number 53, which addresses the effects of the changes. All material on this website should be read in light of the Treasurer’s announcement.

Updated application guidance and requirements for investors - revised 28 August

The FIRB Application Portal will now be unavailable from 7pm Tuesday 1 September 2020 until 8am Wednesday 2 September 2020 AEST. Updates will be made to the Applicant Details page of the Portal.

From 2 September 2020, applications in the Portal will be required to include applicant-specific contact details. These details will allow the FIRB to contact investors (or their nominated representatives) in the future if required (for example, in relation to a scheduled report back). Specifically, an email address and phone number of the applicant, as well as contact details of a representative of the applicant that is responsible for regulatory compliance or equivalent, are now required.

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These contact details will also be required for applications that were created before 2 September 2020 but not submitted. In relation to these applications, additional instructions will be sent via email to demonstrate how to update the application before it is submitted.

Updates to the FIRB Application Checklist

Treasury is currently updating the FIRB Application Checklist to provide greater clarity to applicants on information requirements when submitting an application. Further detail will be provided once the Application Checklist is updated. These updates are expected to be available on the website in the coming weeks.