vehicle for overseas partner

Can anyone please advise the best vehicle to use for such a partnership in South Australia, (ltd co. trust. etc.) both to protect my partners interest and mine, and to keep incomes separate for tax purposes once the profit is realised . -The project involved is a purchase, subdivision and resale of a block, in as quick a time possible. Not sure if this would be one project or more, would depend on the success or otherwise of the first attempt! 

I am a recent immigrant to Australia from the UK, should get my permanent residency in the next few months. Does anyone know of any restrictions on property ownership for me or for overseas investor?

I have a small retail business that works well now with little input from me, but does not have good enough figures yet (17 months old business) for me to get other than a no-doc. loan. -Not sure how relevant that may be!

Thanks for reading.