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.
News
News
14 August 2018
Text of the address
14 August 2018
FIRB Chairman David Irvine AO delivered a keynote address to the forum outlining Australia’s approach to foreign investment and the national interest test.
2 July 2018
Foreign investment application fees have been indexed for the 2017-18 year. Revised fees will apply to applications made and notices given as of 1 July 2018. The fee schedule and further information on the application of fees is provided in Guidance Note 30 (business) and Guidance Note 29 (residential land).
A fee estimator is available to provide estimates of fees for different types of foreign investment applications.
2 July 2018
The new Foreign Investment Review Board (FIRB) Application Portal (Portal) is now live.
All non-residential applications for foreign investment must now be lodged through the Portal. If an interim application was submitted between 28-30 June inclusive, applicants will now need to lodge their full application using the Portal.
18 June 2018
Reflecting recent changes in the foreign investment framework, the application checklist has been updated to provide up to date assistance for investors in completing their application. The checklist outlines information that must be included in all applications (except residential real estate applications) as well as additional information that may be required for certain types of applications.
Significant delays in processing can be expected for applications that do not include information outlined in the checklist.
29 May 2018
In 2016–17 the total number of applications approved was 14,357 representing $193 billion of proposed investment. Despite the decline in residential real estate approvals, the value of business related approvals was relatively stable. The services sector attracted the highest value of approved investment, totalling $54 billion, along with significant proposals focused on ports and electricity network assets. Overall, China and the United States continued to be the top two sources of proposed investment.
24 May 2018
Presented on 16 May 2018
1 February 2018
The Australian Government has released new guidance clarifying that foreign investors can only acquire agricultural land where there has been an open and transparent sale process.
4 January 2018
Monetary thresholds for foreign investors were indexed on 1 January 2018.
14 December 2017
Treasurer Scott Morrison has announced the appointment of Ms Teresa Dyson as a part-time member to the Foreign Investment Review Board (FIRB) for a five-year period.
14 August 2017
Media Release by the Treasurer, the Hon Scott Morrison MP (as at 14/8/2017)
21 July 2017
Presented on 18 July 2017
9 May 2017
In the 2017-18 Budget, the Australian Government announced several changes regarding the foreign investment framework. Information on each of these changes is provided below. The final details will be subject to the passage of legislation.