FIRB residential real estate — temporary residents
Temporary residents may purchase 1 established dwelling for own residence + new dwellings without limit.
Who must comply
Temporary residents acquiring residential property + their developer/agent.
What triggers it
Property acquisition by foreign person.
When due
Pre-acquisition approval; sale of established dwelling on departure.
Evidence required
FIRB approval letter + sale evidence on departure.
Max penalty
—
Summary
Foreign Acquisitions + Takeovers Act 1975 + Reg 2015. Temporary residents permitted to acquire 1 established dwelling for use as principal residence + new dwellings without limit. Approval + reporting obligations.
Enforced by
Source legislation
Topics
Source: https://firb.gov.au/residential-real-estate. Rules Mate is not a law firm. Always verify against the live regulator source before acting.