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ARTICLE · 06 FEBRUARY 2023

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When is FIRB approval required in Australia?

JB Solicitors
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FIRB (Foreign Investment Review Board) examines applications from foreigners to invest or buy a home in Australia.

AustraliaGovernment, Public Sector
John Bui
John Bui
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A lot of people may ask themselves 'when is FIRB approval required?'. FIRB stands for Foreign Investment Review Board which is an Australian government division that examines applications from foreigners who want to invest or buy a home in Australia. A foreign person typically need to obtain approval from the FIRB before:

  • Purchasing interests in securities or assets (for instance, an agricultural land); or
  • Acquiring a substantial interest in an Australian entity that is valued above the relevant monetary threshold
  • Engaging in other transactions involving corporations, unit trusts, or businesses with ties to Australia.

The Foreign Acquisitions & Takeovers Act (FATA) 1975 and the Australian Federal Treasurer govern foreign investment proposals. The Foreign Acquisitions and Takeovers Act deals with the acquisition of interests in securities, assets or Australian land by a foreign person. But what is the role of a Treasurer?

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