In order to avoid any disadvantages in terms of purchasing properties as a foreigner in Australia, you may need to know some key issues.
Acquisition of residential real estate by foreign individuals is subject to Foreign Investment Review Board (FIRB) approval. FIRB approval is not required by Australian citizens resident abroad, or for acquisitions in residential-zoned properties by people holding permanent resident.
Temporary residents, foreign residents, or short-term visa holders from any country need to apply to the Foreign Investment Review Board (FIRB) to purchase real estate in Australia.
Here are tips to take before you purchase a property in Australia.
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