Hi all,
I have been overseas for a while now and one big difference I notice now is that all the winning bidders at auction are Chinese.
Is there a special or easier route to getting residency or a visa if overseas investors buy property in Australia?
Or are the visas all dependent on investing $ in a business?
I am asking because I would like to invest in an area where demand is hot from Chinese investors but just trying to cover off regulation risk – by that I mean the government stopping or pulling back on some sort of regulation that is attracting Chiense investors here. Last thing I want to do is buy in a market where there is chinese demand pulling prices off and then sell in a market where they are no longer incentised to buy. Effectively, I don’t want to sell in a market where its just locals bidding because I know the prices being achieved now will not be acheived if the chinese pull out.
I understand overseas investors pay more stamp duty now anyway so the market is somewhat two-tier but are they getting some additional intrinsic value by buying here that locals do not benefit from?
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This topic was modified 6 years, 7 months ago by
propertyboy.
Hi Propertyboy
No Visa is required for a Non Resident to purchase a property in Australia however approval is required from the Foreign Investment Review Board.
Until recently the Developer could have the property approved however this has changed and now the individual buyer needs to make the application and pay the required fee.
In saying this there has been no slowdown of overseas buyers and despite the increase in stamp duties, various vacancy Taxes imposed by the individual States and the withdrawal of traditional finance they still keep coming in their numbers.
Seeing the demand over a year or so ago we set up our own Foreign National Fund to Finance Non resident purchasers and the Fund has grown substantially.
I don’t see them pulling out in a hurry.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
International buyers can avoid the 7% additional stamp duty in victoria if they own less then 50< interest in the property
If I buy a house with my overseas wife where I own 60% and she owns 40% will we be exempt from the higher 7% duty in victoria?
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This topic was modified 6 years, 7 months ago by
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