Foreigner Buyer Restrictions in Australia

Viewing 3 posts - 1 through 3 (of 3 total)

Elysium
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@elysium
Join Date: 2018
Post Count: 0
November 26, 2018 - 1:37 am
Hello all,
I am a property investor from Europe, and looking to invest into Australian property, and I already own 2 rental units in new developments.
The problem:
Foreign investors are ONLY allowed to purchase NEW properties (completed within max 1 year). These types of properties are more expensive (easily 25% more) than existing older units and probably get a lower % ROI as well.
I am looking for (legal) ways to purchase older units, or buy land to develop into rental units.
Is anyone here familiar with the laws that apply to non-Australian property investors in Australia?
Is there anything I can do?
What if a property is jointly owned by a local and myself?
Thank you in advance!
- This topic was modified 2 weeks, 4 days ago by Elysium.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 11,975
November 27, 2018 - 9:46 pm
Hi there
I have sent you a PM in regards to such a way.
We do this with a couple of large Chinese groups and it works well for all concerned.
Cheers
Yours in Finance
Richard Taylor | Mortgage Broker helping investors build their wealth thru property
http://www.mortgagecapitalaustralia.com.au
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0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,058
November 27, 2018 - 11:18 pm
Yes, there are a number of ways it can be structured. You will need legal advice on the foreign acquisitions and takeovers act and regs
Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
http://propertytaxbook.com.au/
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Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/