What is FIRB and who needs it?

FIRB (Foreign Investment Review Board) is an Australian government body that regulates foreign investment in real estate. Most foreign nationals need FIRB approval before purchasing Australian property. Australian citizens, permanent residents, and some temporary residents with eligible visas are typically exempt from FIRB requirements.

How much does FIRB approval cost?

FIRB application fees vary based on property value, typically ranging from approximately $2,000 for properties under $1 million to $200,000+ for very high-value properties. Fees are subject to change annually. Check the current fee schedule at firb.gov.au for accurate, up-to-date rates.

Can foreign buyers purchase established properties in Australia?

Generally no. FIRB rarely approves foreign nationals (non-residents) to purchase established (second-hand) properties. Foreign buyers are typically limited to new dwellings (never previously sold), off-the-plan properties, or vacant land for new construction. Exceptions may apply for temporary residents with eligible visas who can purchase one established dwelling for use as their residence.

What happens if I buy property without FIRB approval?

Purchasing property without required FIRB approval is a serious breach of Australian law. Penalties can include substantial fines, forced divestment (being required to sell the property), criminal prosecution, and being banned from future property purchases in Australia. Always obtain FIRB approval before exchanging contracts.

How long is FIRB approval valid?

FIRB approval is typically valid for 12 months from the date of approval. If you don't complete your property purchase within this timeframe, you'll need to reapply. The approval is also specific to the property or development mentioned in your application.

Do Australian expats need FIRB approval?

Generally, Australian citizens do not need FIRB approval regardless of where they live. However, if you've been away from Australia for more than 12 months and don't intend to return within 12 months, you may be treated as a foreign person for some purposes. Australian permanent residents need FIRB approval if they've been outside Australia for more than 12 months continuously.

Can FIRB reject my application?

Yes, FIRB can reject applications if the proposed purchase is not in Australia's national interest, the property type is ineligible, the applicant doesn't meet requirements, or there are concerns about compliance with conditions. Common rejection reasons include applying for established properties as a foreign national, insufficient information provided, or concerns about the source of funds.

What conditions might FIRB impose?

FIRB may impose conditions such as: occupying the property as your principal place of residence, developing vacant land within a specified timeframe (typically 4 years), not leasing the property short-term, ensuring construction meets certain standards, or selling the property when your visa expires. Conditions vary based on property type and purchaser circumstances.

Do I apply for FIRB before or after finding a property?

You should apply for FIRB approval once you've identified a specific property or development you wish to purchase, but BEFORE signing any contract or making financial commitments. The application requires specific property details. Always make your contract conditional on FIRB approval being granted.

FIRB Foreign Investment Approval Guide 2025

What is FIRB (Foreign Investment Review Board)?

The Foreign Investment Review Board (FIRB) is an Australian government body that advises the Treasurer on foreign investment proposals and administers Australia's foreign investment policy, particularly relating to real estate purchases.

FIRB's Role in Property Investment

FIRB examines foreign investment proposals to ensure they are not contrary to Australia's national interest. For residential real estate, this means:

• Reviewing foreign purchases of Australian property
• Ensuring foreign investment increases housing stock (hence preference for new dwellings)
• Imposing conditions on property purchases where appropriate
• Monitoring compliance with approval conditions
• Investigating and penalizing breaches of foreign investment rules

Why Does FIRB Exist?

The Australian government established FIRB requirements for residential real estate to:

• Increase Housing Supply: Channel foreign investment toward new construction rather than existing stock
• Protect Affordability: Limit competition for established homes that would otherwise be available to Australian residents
• Ensure Occupancy: Prevent foreign-owned properties from sitting vacant
• Monitor Investment: Track foreign investment in Australian real estate markets

Important Context: FIRB is not designed to prevent foreign investment - Australia welcomes international property buyers. Rather, FIRB channels foreign investment toward new housing construction, which benefits the Australian economy and increases housing supply.

Who Needs FIRB Approval?

Whether you need FIRB approval depends primarily on your citizenship and residency status:

FIRB Requirement by Status

✓ EXEMPT - No FIRB Required

• Australian Citizens: No FIRB approval needed regardless of where you live
• Australian Permanent Residents: No FIRB if you're in Australia or have been outside for less than 12 months continuously
• New Zealand Citizens: On special category visa (subclass 444) residing in Australia

⚠ POSSIBLY EXEMPT - Depends on Circumstances

• Temporary Residents: Those with eligible visas may have exemptions for one established dwelling as residence
• Australian PR (Outside 12+ Months): May need FIRB if continuously outside Australia for more than 12 months
• Certain Visa Holders: Some business and investor visa holders have specific exemptions

✗ FIRB REQUIRED - Must Apply

• Foreign Nationals: Non-residents who are not Australian citizens or PRs
• Foreign Companies: Companies incorporated overseas or with substantial foreign ownership
• Foreign Trusts: Trusts controlled by foreign persons
• Temporary Residents (Most Purchases): Need approval even with exemptions for certain property types

Special Cases and Grey Areas

Australian Expats Living Overseas

If you're an Australian citizen, you generally don't need FIRB approval regardless of where you live or how long you've been away.

If you're an Australian permanent resident who has been continuously outside Australia for more than 12 months, you may be treated as a foreign person for FIRB purposes. Check with FIRB or seek legal advice if uncertain.

Temporary Residents (Student, Work Visas)

Temporary residents with eligible visas may be exempt from FIRB for purchasing one established dwelling to use as their principal place of residence while in Australia.

Conditions: Must occupy the property, cannot rent it out, must sell when visa expires. For investment properties or additional properties, FIRB approval is still required.

Spouses and Family Purchases

If one spouse is Australian and one is foreign, the Australian spouse may purchase in their name alone without FIRB. If purchasing jointly or in foreign spouse's name, FIRB may be required.

Complex Area: Joint purchases and family arrangements can be complicated. Seek legal advice to ensure compliance.

When in Doubt, Apply: If you're uncertain whether you need FIRB approval, it's safer to apply than risk penalties for non-compliance. You can also seek a private ruling from FIRB for your specific circumstances, or consult with a property lawyer experienced in foreign investment law.

What Property Types Can Foreign Buyers Purchase?

FIRB's approval depends heavily on the property type. Foreign investment policy is designed to increase housing supply, so new dwellings are generally approved while established properties are rarely approved.

✓ GENERALLY APPROVED

New Dwellings

Properties that have never been previously sold as a dwelling or previously occupied. This is the most common approval category for foreign buyers.

Examples: Newly constructed houses, brand new apartments in completed buildings

Off-the-Plan Properties

Properties purchased before construction is complete, from a plan. Generally approved as they increase housing stock.

Examples: Apartments in buildings under construction, house-and-land packages not yet built

Vacant Land for New Construction

Vacant residential land where you'll construct a new dwelling. Approval typically conditional on commencing construction within 4 years.

Condition: Must build new dwelling within specified timeframe

Properties for Redevelopment

Established properties you intend to demolish and rebuild. Approval conditional on completing redevelopment within specified timeframe (usually 4 years).

Condition: Must demolish and construct new dwelling(s) increasing overall dwelling count

Properties in Approved Developments

Properties within developments that have received FIRB approval. Common for large apartment or townhouse developments.

Advantage: Streamlined approval if development already approved

✗ RARELY APPROVED

Established Dwellings

Properties that have been previously sold or occupied. Generally not approved for foreign nationals unless exceptional circumstances.

Exception: Temporary residents with eligible visas may purchase ONE established dwelling as their residence

Second-Hand Properties

Any property that has had a previous owner or occupant. Policy aims to channel foreign investment to new supply, not existing stock.

Investment Properties (Established)

Established properties purchased as investments. Even temporary residents need FIRB approval for established investment properties (their exemption only covers one dwelling for own residence).

Holiday Homes (Established)

Established properties for occasional use. Not considered to increase housing supply, so rarely approved.

Agricultural Land

Farmland, rural properties, agricultural holdings. Subject to separate, stricter FIRB thresholds and processes.

Note: Different rules apply - consult FIRB directly for agricultural purchases

Heritage-Listed Properties

Properties of significant historical or architectural value. Additional restrictions and conditions typically apply.

Defining "New Dwelling" - Common Questions

Q: Is a "brand new" property that's been lived in for 6 months still considered new?

A: No. Once a dwelling has been occupied or previously sold, it's no longer classified as a "new dwelling" for FIRB purposes. The property must never have been previously sold or occupied.

Q: Can I buy an established property if I promise to renovate it?

A: Minor renovations don't change the classification. However, if you're purchasing specifically for substantial redevelopment (demolition + rebuild), you may be approved - but this requires demonstrating genuine redevelopment intent and meeting strict conditions about construction timeframes.

Q: What about buying from the developer vs buying resale?

A: Buying from the original developer (first sale) of a new property is generally fine. Buying the same property as a resale (second sale) makes it an established dwelling and unlikely to be approved for foreign nationals.

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FIRB Application Fees: How Much Does FIRB Cost?

FIRB application fees vary significantly based on the property's purchase price. Fees are updated annually, so always check the current fee schedule at firb.gov.au for accurate rates.

Fee Disclaimer: The fee ranges below are indicative based on recent schedules but are subject to change with each federal budget. Always verify current fees on the official FIRB website before budgeting. Fees shown are approximate and for residential property purchases only.

Indicative FIRB Fee Structure (Check Current Rates)

Purchase Price (AUD)	Approximate Fee
Under $1 million	~$2,000
$1 million - $2 million	~$13,200
$2 million - $3 million	~$26,400
$3 million - $4 million	~$39,600
$4 million - $5 million	~$52,800
$5 million - $10 million	~$66,000 - $132,000
Over $10 million	$132,000+

Note: These are approximate ranges only. Fees increase incrementally with property value. Commercial and agricultural properties have different fee structures. Check firb.gov.au for the current official fee schedule.

Understanding FIRB Fees

Important points about FIRB fees:

• Non-Refundable: FIRB fees are paid upfront and not refunded if your application is rejected or you don't proceed with the purchase
• Per Application: Each property purchase requires a separate application and fee
• Based on Purchase Price: Fee calculated on the property's purchase price, not its value
• Updated Annually: Fee schedules typically change with the federal budget (usually July)
• Development Fees Different: Approved developments may have different fee structures
• Vacant Land: Fees for vacant land purchases calculated on land value only

Additional Costs Related to FIRB

Beyond the FIRB application fee itself, budget for:

• Legal Advice: Solicitor fees for reviewing FIRB requirements and assisting with application ($500-$2,000)
• Document Translation: If documents are in foreign languages ($50-$500)
• Document Certification: Notarization, apostille, certified copies ($100-$500)
• Time Cost: Preparing comprehensive application takes time and effort

FIRB Application Process: Step-by-Step Guide

Here's the complete process for applying for FIRB approval to purchase Australian property:

Step 1: Confirm You Need FIRB Approval

Before starting your application, confirm:

• Your citizenship/visa status requires FIRB approval
• The property type is eligible for foreign purchase
• You're applying at the right time (after identifying property, before signing contract)

Tip: If uncertain, consult a property lawyer or contact FIRB directly for guidance before proceeding.

Step 2: Gather Required Documentation

You'll need to provide:

• Valid passport or identification documents
• Proof of overseas address
• Visa details (if applicable)
• Detailed property information (address, purchase price, property type)
• Proof of financial capacity (bank statements, evidence of funds)
• Intended use of property (residence, investment, redevelopment)
• For companies: Certificate of incorporation, beneficial ownership details
• For vacant land: Development plans and construction timeline

Translation: Documents in languages other than English must be professionally translated.

Step 3: Create FIRB Online Account

• Visit the FIRB website (firb.gov.au)
• Navigate to the online application portal
• Create account with valid email address
• Verify your email address

Note: Keep your login credentials secure - you'll need them to track application status.

Step 4: Complete Online Application Form

Fill out the comprehensive application form including:

• Personal details (name, date of birth, citizenship, current address)
• Residency status and visa details
• Property details (full address, purchase price, property type, title information)
• Seller information
• Intended use and occupancy plans
• Financing details
• Declaration that all information provided is true and accurate

Accuracy Critical: Incorrect or incomplete information can delay processing or result in rejection.

Step 5: Upload Supporting Documents

Attach all required documentation:

• Scanned copies of passport/ID
• Proof of address documents
• Financial capacity evidence
• Property contract or draft contract (if available)
• Any additional documents requested by the system

Format: PDF format preferred. Ensure documents are clear and legible.

Step 6: Review and Submit Application

Before submitting:

• Review all information for accuracy
• Verify all required documents are attached
• Check property details are correct (address, price)
• Read and accept terms and conditions
• Submit application through online portal

Confirmation: You'll receive email confirmation with application reference number.

Step 7: Pay Application Fee

Pay the required FIRB fee:

• Fee amount calculated based on property purchase price
• Payment via credit card or bank transfer
• Receive payment confirmation and receipt
• Fee is non-refundable regardless of outcome

Timing: Application processing doesn't commence until fee is paid.

Step 8: Wait for Assessment

During assessment period:

• Standard processing time: 30 days (can be longer)
• FIRB may request additional information
• Respond promptly to any requests (delays processing)
• Track application status via online portal
• Do NOT exchange contracts while waiting for approval

Patience Required: Processing times can extend during busy periods or complex applications.

Step 9: Receive Decision

FIRB will issue one of three outcomes:

• Approval: No objection to purchase (may include conditions)
• Rejection: Purchase not approved with reasons provided
• Request for Information: Additional details needed before decision

If Approved: Review any conditions imposed carefully. Approval is typically valid for 12 months.

Step 10: Proceed with Purchase & Compliance

Once approved:

• Provide approval documentation to your solicitor
• Include FIRB approval details in contract
• Complete purchase within 12-month validity period
• Comply with any conditions imposed
• Lodge compliance notifications as required (vacancy fees if applicable)
• Keep FIRB approval records for your property ownership period

Ongoing Compliance: You may need to report annually on property use and occupancy.

FIRB Processing Times & Timelines

Understanding FIRB processing timeframes is essential for planning your property purchase timeline:

Typical Processing Times

Application Type	Typical Processing Time
Standard residential property	30 days
Property in approved development	7-14 days (streamlined)
Complex applications	60-90 days
Applications requiring additional information	Extended (30+ days from information provided)
Peak periods (end of financial year)	45-60 days

Important: These are typical times only. Processing can be longer during busy periods or if additional information is requested. Always allow buffer time in your purchase timeline.

Factors Affecting Processing Time

Your FIRB application may take longer if:

• Incomplete Application: Missing documents or information requires follow-up
• Complex Circumstances: Company purchases, trusts, or unusual property types
• Additional Scrutiny: Very high-value properties or sensitive locations
• Peak Periods: End of financial year (June-July) typically busier
• Source of Funds Questions: If FIRB has concerns about financing source
• Property Type Queries: Borderline cases between new/established

Tips for Faster Processing

To help ensure timely processing:

• ✓ Submit complete application with all required documents
• ✓ Ensure all information is accurate and consistent
• ✓ Provide clear, certified copies of identification
• ✓ Respond immediately to any FIRB requests for additional information
• ✓ Apply for properties in approved developments when possible (streamlined process)
• ✓ Avoid peak periods if possible
• ✓ Engage experienced property lawyer to review application before submission

Contract Timing: Given processing times, always make your contract conditional on FIRB approval with adequate time (minimum 45-60 days). Longer settlement periods (90 days) provide more buffer for FIRB delays.

FIRB Approval Conditions & Ongoing Compliance

FIRB approval often comes with conditions you must comply with. Understanding and meeting these conditions is crucial:

Common FIRB Conditions

Condition: Principal Place of Residence

Applies to: Temporary residents purchasing established dwellings

Requirement: Must occupy property as your main residence while in Australia. Cannot lease to others or leave vacant for extended periods.

Compliance: May require annual declarations of occupancy.

Condition: Sale Upon Visa Expiry

Applies to: Temporary residents with residence condition

Requirement: Must sell property within 3 months of your visa expiring or when you cease to be a temporary resident.

Exception: Not required if you become permanent resident or citizen.

Condition: Construction Timeframe (Vacant Land)

Applies to: Vacant land purchases

Requirement: Must commence construction within specified timeframe (typically 4 years). Must complete construction of new dwelling.

Compliance: Provide evidence of construction commencement and completion.

Condition: Redevelopment Requirements

Applies to: Established properties approved for redevelopment

Requirement: Must demolish existing dwelling and construct specified number of new dwellings within timeframe (typically 4 years). Total dwelling count must increase.

Compliance: Provide demolition and construction certificates.

Condition: No Short-Term Letting

Applies to: Some approvals, particularly for temporary residents

Requirement: Cannot use property for short-term accommodation (Airbnb, holiday letting). Must be long-term residence or rental only.

Minimum Lease: Typically 6-12 months minimum if renting out (check specific conditions).

Vacancy Fees

Foreign owners may be subject to vacancy fees if:

• Property is vacant (not occupied or leased) for more than 183 days in a 12-month period
• You're a foreign person as defined under the foreign investment rules
• Vacancy fee calculation based on property value (check current rates)

Avoiding Vacancy Fees:

• Occupy the property yourself for at least 183 days per year
• Maintain tenants with long-term lease (6+ months)
• Document genuine attempts to lease if temporarily vacant
• Lodge annual vacancy fee return even if property not vacant (declare occupancy)

Annual Compliance Reporting

Foreign property owners may need to:

• Lodge annual vacancy fee returns (deadline typically December 31 for prior calendar year)
• Declare property occupancy status
• Pay applicable vacancy fees if property was vacant
• Maintain records of tenancy agreements, occupancy, and attempts to lease

Penalties for Non-Compliance: Failing to comply with FIRB conditions can result in: substantial fines, requirement to divest (sell) the property, criminal prosecution, and being prohibited from future foreign investment in Australia. Take compliance seriously.

What if FIRB Rejects My Application?

FIRB can reject applications if the proposed purchase doesn't meet requirements. Understanding common rejection reasons helps avoid issues:

Common Reasons for FIRB Rejection

1. Ineligible Property Type

Most common reason: Foreign nationals applying to purchase established properties. Remember, foreign buyers are generally limited to new dwellings, off-the-plan, or vacant land.

2. Incomplete or Inaccurate Information

Applications missing required documents, providing inconsistent information, or containing errors. Always double-check application accuracy before submission.

3. Source of Funds Concerns

If FIRB has concerns about the source of funds or financing arrangements. Must demonstrate legitimate source of purchase funds.

4. National Interest Concerns

Properties in sensitive locations, security-related concerns, or other factors FIRB deems contrary to national interest (rare for standard residential).

5. Previous Compliance Issues

History of non-compliance with FIRB conditions, vacancy fees, or foreign investment regulations. Clean compliance record essential.

6. Insufficient Development Plans

For vacant land or redevelopment applications, insufficient detail about construction plans, unrealistic timelines, or inability to demonstrate capacity to complete development.

What to Do if Your Application is Rejected

If FIRB rejects your application:

1. Review Rejection Reasons: FIRB will provide reasons for rejection. Understand exactly why approval was denied.
2. Assess Options: Determine whether issues can be addressed and reapplication is viable.
3. Consider Reapplication: If rejection based on correctable issues (missing information, property classification error), you may reapply with corrected information. Note: Requires paying application fee again.
4. Seek Different Property: If property type was the issue, focus search on eligible new dwellings, off-the-plan, or vacant land.
5. Request Review: In limited circumstances, you may be able to request internal review of decision. Consult immigration lawyer specializing in foreign investment.
6. Contract Implications: If your contract was conditional on FIRB approval, rejection allows you to withdraw without penalty. Consult your solicitor.

Application Fees Not Refunded: FIRB fees are non-refundable regardless of decision outcome. If reapplying, you'll pay the full fee again. This makes getting the application right first time financially important.

Expert Tips for Successful FIRB Applications

Based on experience with hundreds of international buyers, here are insider tips for smooth FIRB approval:

✓ Best Practices for FIRB Success

1. Apply at the Right Time

Submit FIRB application AFTER identifying your target property but BEFORE exchanging contracts. Never sign a contract without FIRB approval or appropriate conditions.

2. Focus on New Dwellings

As a foreign buyer, target new apartments, off-the-plan properties, or new house-and-land packages. Don't waste time and money applying for established properties unless you're an eligible temporary resident purchasing for residence.

3. Make Contract Conditional on FIRB

Always include "subject to FIRB approval" as a special condition in your contract with adequate time (60+ days minimum). This protects you if approval is delayed or denied.

4. Engage Experienced Professionals

Work with solicitors and buyer's agents experienced in foreign investment. They understand FIRB processes and can flag potential issues early.

5. Be Completely Transparent

Provide honest, accurate, complete information. Misrepresentation can result in rejection or future compliance issues. If asked about source of funds, be prepared to provide comprehensive documentation.

6. Respond Promptly to Requests

If FIRB requests additional information, respond within 24-48 hours. Delays in responding extend processing time and may jeopardize time-sensitive contracts.

7. Keep Records

Maintain copies of your FIRB approval, all correspondence, and compliance documentation for the entire period you own the property. You may need to reference these for annual reporting or if compliance questions arise.

8. Understand Ongoing Obligations

FIRB approval isn't a one-time thing. Understand vacancy fee obligations, annual reporting requirements, and any specific conditions attached to your approval.

9. Consider Approved Developments

Properties in FIRB-approved developments may have streamlined approval process (7-14 days vs 30+ days). Ask developers if development has FIRB approval.

10. Budget for Fees

FIRB fees can be substantial (especially for properties over $1M). Factor application fee into your total purchase costs and don't underestimate this expense.

⚠️ Important Disclaimers

General Information Only: This guide provides general information about FIRB approval processes. It is not legal advice and should not be relied upon as such.

Professional Advice Essential: FIRB rules are complex and change regularly. You must:

Verify all information with current official FIRB guidance at firb.gov.au
Engage qualified Australian property solicitor for advice specific to your circumstances
Confirm current fees and processing times before applying
Understand any specific conditions that may apply to your situation

Information Currency: FIRB fees, requirements, processing times, and policies change regularly with federal budgets and policy updates. While this guide was updated in November 2025, always verify current information at official sources.

Individual Circumstances Vary: Your specific FIRB requirements depend on your citizenship, visa status, property type, intended use, and many other factors. Generic information cannot substitute for professional advice tailored to your situation.

Penalties for Non-Compliance: Breaching foreign investment rules carries serious penalties including substantial fines and forced property sale. Ensure you fully understand and comply with all requirements.

Official FIRB Resources

FIRB Official Website - Current fees, application portal, guidance
FIRB Guidance Notes - Detailed guidance on residential real estate
Treasury Foreign Investment Policy - Policy framework and updates
Australian Taxation Office - Vacancy fees and compliance

FIRB Foreign Investment Approval Guide: How to Get FIRB Approval for Gold Coast Property

Quick Answer

Complete FIRB Approval Guide

Understanding FIRB:

Application Process: