Investment framework and opportunities in Australia

Procedures Relative to Foreign Investment

Freedom of Establishment: Yes
Acquisition of Holdings: Foreign persons can be required to obtain approval under Australia's foreign investment framework, which includes the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA). However, the purchase of a local firm by a foreign company can always be refused by the controlling authority, on the grounds that it would be contrary to national interests. From 30 March 2020, temporarily, proposed foreign investments into Australia which previously did not require Foreign Investment Review Board (FIRB) approval because the value of the transaction/target was below an applicable monetary threshold will now require FIRB approval, regardless of the nature of the foreign investor.

Consult the FIRB (Foreign Investment Review Board) website.
Obligation to Declare: The agency for the promotion of foreign investment in the country gives information about the authorisations necessary for setting up business in Australia. Some investments must be declared to the FIRB.
These include acquisitions, substantial acquisitions of holdings, and taking control of Australian companies whose assets are valued at more than AUD 50 million; the creation or setting up of a new business when it goes over AUD 10 million (over AUD 100 million of investment the FIRB will make a detailed study) and direct investments carried out by foreign governments.
The applications, related to foreign investment in an Australian business, agricultural land or sensitive commercial land will be processed by the Treasury. While the applications concerning foreign investment in residential real estate or non-sensitive commercial land, as well as non-sensitive internal reorganisations, will be processed by the Australian Taxation Office.
Competent Organisation For the Declaration: FIRB
Requests For Specific Authorisations: Sensitive sectors in which FDI proposals are subject to special scrutiny include real estate, civil aviation, television broadcasting, mass circulation newspapers and telecommunications. In many of these sectors restrictions on FDI have been relaxed in recent years so that actual levels of foreign ownership and control have increased. The FIRB can provide details.

Investment Opportunities

Investment Aid Agency: Austrade (Australian Trade and Investment Commission)
Invest Victoria
Invest in New South Wales
Invest in South Australia
Invest in Western Australia
Invest in Queensland
Invest in Northern Territory
Invest in Tasmania
Tenders, Projects and Public Procurement: AusTender, Annual Procurement Plan List
Tenders NSW, Public Procurement opportunities in NSW
SA Tenders and Contracts, Public Procurement opportunities in South Australia
Tenders Info, Tenders in Australia
DgMarket, Tenders Worldwide
Other Useful Resources: Australian Department of Industry, Innovation and Science
Investment opportunities in Australian Tourism
Doing Business in Australia (Gadens)

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