The Australian Government recognises the contribution foreign investment has made and continues to make to the development of Australia.  It provides scope for higher rates of economic activity and employment, access to new technology, management skills and overseas markets.  As a result, the Government’s foreign investment policy was developed to encourage foreign investment that will widely benefit the interests of the Australian community.

A foreign interest is briefly described as:

1. A person not ordinarily resident in Australia
2. A corporation, business or trust in which a foreigner and any associates have 15% or more ownership or in which several foreigners have 40% or more aggregate of the ownership. 
3. A temporary resident including all foreign nationals living in Australia who:-

• Hold a valid temporary visa which permits them to stay in Australia for a continuous period of more than 12 months (irrespective of how much time is remaining until that visa expires); OR

• Have submitted an application for pemanent residency (PR), and hold a bridging visa which permits them to stay in Australia until their PR application has been finalised.

Short-term visitors such as tourists, business people and those here for a medical procedure are not temporary residents.

More detailed information regarding Australia’s foreign investment policy can be obtained by accessing the website www.firb.gov.au .