Foreign investors are fundamental to the Australian property market and commercial and agricultural investments. Over the last couple of years there has been no shortage of debate in the role that they play. In 2015 there were substantial changes to the Foreign Acquisitions and Takeovers Act and the Foreign Acquisitions and Takeovers Regulations. The changes to the legislation overhauled the foreign investment framework in Australia including agricultural land. Changes have been continuous since the amendments and developments are set to continue within the framework.
Individuals and Organisations must be aware of the new changes and ongoing responsibilities when investing in Agricultural land. Perdaman Global Servicesgroup always aim to keep our clients on the front foot with information and aspire them to be one step ahead to avoid difficulties with their investment streams.
Significant fees will now be imposed upon foreign investors who are now required to attain approval from the Foreign Investment Review Board (FIRB) for the acquisition of an interest in agricultural land, and pay the associated fees.
It is also required that foreign investors must register interests in agricultural land on the Land Register as administered by the ATO.
Perdaman Global Services understand the complexity of the new framework and are regularly updated with amendments to legislation’s and the responsibilities businesses must undertake. As a multi service agency we can help you with all aspects of your investment. We can provide the correct Investment visa advice and we can also advise on training contracts and on other initiatives. Our Organisational Development and HR consultancy can ensure you have everything organised in order to be on the right side of the law. We also have a diverse range of Preferred partners who can help you with any questions about your investment you may have.
For more information, please contact migration@perdaman-gs.com.au.
Comments are closed.