From 1 December 2015 there were major changes to the regulatory regime governing foreign investment into Australia.
The majority of the changes are contained in the Foreign Acquisitions and Takeovers Legislation Amendment Act 2015 and are already in effect.
Some of the changes include:
These rules apply to not only to direct investment into Australia, but can also apply to some indirect holdings – group restructures are a perfect example of where a FIRB reporting requirement might fly under the radar, and the consequences of non-compliance can be severe.
FIRB issues can also arise on certain financing, development agreements, and other arrangements.
Our experienced team can assist clients navigate the new regulatory landscape by: