FIRB (Foreign Investment Review Board) Fee Update for the 2025–2026 Financial Year
Since December 2015, under the rules of Australia's Foreign Investment Review Board (FIRB), overseas investors wishing to purchase residential land or property in Australia must submit an application in advance and pay the applicable approval fee. Only after receiving FIRB approval can they proceed to buy the relevant land or property.
The fee structure was updated on 1 July 2025. The FIRB fees for purchasing a new property are as follows:
Purchasing a property valued at A$1,000,000 or below incurs a fee of A$15,100; purchasing a property valued between A$1,000,000 and A$2,000,000 (inclusive) incurs A$30,300; and purchasing a property valued between A$2,000,000 and A$3,000,000 (inclusive) incurs A$60,600. For more detailed pricing, please refer to the table below:
From 1 April 2025 to 31 March 2027, foreign nationals are prohibited from purchasing established residential properties in Australia. Aobo Realty will keep this updated should the policy change in future.
Who is considered an overseas person?
According to the definitions in Australia's foreign acquisitions and takeovers legislation, an overseas person includes:
- A natural person who is not an Australian citizen or not a holder of an Australian permanent residency visa (commonly known as an Australian green card);
- An Australian-registered company whose company or trust shareholders do not ordinarily reside in Australia, or a company or trust in which a foreign company, foreign trust or foreign government holds a substantial interest;
- An Australian-registered company or trust in which two or more shareholders do not ordinarily reside in Australia, or a company or trust in which foreign companies or foreign governments hold an aggregate substantial interest;
- A foreign government;
- Any other person or persons meeting the conditions set out in the regulations.
The following persons or companies may be exempt from the FIRB application:
- Australian citizens;
- New Zealand citizens;
- Australian permanent residents;
- Foreign nationals who are the spouse of an Australian citizen or permanent resident and who purchase the property as joint tenants;
- Developers who hold a FIRB exemption certificate;
- Inheritance by will;
- Purchasing property directly from the Australian government or a government-owned entity.
What types of residences can foreign nationals buy? Foreign nationals can generally obtain FIRB approval to purchase the following properties or land:
- Brand-new residences (apartments or townhouses);
- Vacant land – land that increases the number of titles, with construction to be completed within 4 years;
There is generally no limit on the number of brand-new residences or vacant land parcels an overseas person may purchase, but approval must be obtained before each acquisition. How long does the approval process take?
Generally speaking, FIRB approval is granted within 30 days of receiving the application materials and the application fee. In other words, applicants will usually receive notification of whether their application has been approved within 30 days.
If you have any questions about purchasing property in Australia as an overseas person, please leave us a message.