Foreign Investment In Residential Land – Are You Complying with the Legislative Requirements?
From 1 December 2015 the Commonwealth government of Australia introduced sweeping reform of the laws regarding foreign investment into land in Australia. The penalties for failure to comply with foreign investment laws are strict and accordingly it is important to understand your obligations prior to purchasing residential land in Queensland. The Rules Generally foreign persons can only purchase land in Queensland if the purchase is for a new build or vacant land on which a new building will be constructed. However, it...