ANNOUNCEMENT 27 Mar 2009In March 2009, the government of Australia announced changed rules for foreign investors.
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On 27 March 2009 the Federal Government of Australia issued the Foreign Acquisitions and Takeover Legislation Amendment Regulations 2009 (No.1). This regulation relaxes, but does not eliminate, the restrictions on foreign nationals and corporations on purchasing residential real estate in Australia as long as those purchases do not conflict with the national interest. Acquisitions below A$200 million can no longer be prohibited by the Treasurer. Acquisitions of commercial non-residential property below certain thresholds need not notify the government either. Where notification is necessary a streamlined procedure has been introduced.