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• Foreign Investment
• Who Is Required
• Which Investments Require Approval
• Commercial Real Estate
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• Breaches Of The Act
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Who Is Required

The Act and the Foreign Investment Policy apply to acquisitions by foreign persons.  A foreign person is defined as:

• a natural person not ordinarily resident in Australia;
• a corporation in which a natural person not resident in Australia or a foreign corporation holds a controlling interest;
• a corporation in which 2 or more persons, each of whom is either a natural person or a resident in Australia or a foreign corporation holding an aggregate controlling interest;
• the trustee of a trust estate in which a natural person not ordinarily resident in Australia or a foreign corporation which holds a substantial interest; or
• a trustee of a trust estate in which 2 or more persons, each of whom is either a natural person not ordinarily resident in Australia or a foreign corporation, holding an aggregate substantial interest.

A substantial foreign interest occurs when a single foreigner has 15% or more of the ownership, or several foreigners have 40% or more in aggregate of the ownership of any corporation, business or trust.

If you have any question's relating to Foreign Investment, please contact Byron Cannon on byron@fclawyers.com.au or (07) 5443 6600.