Agriculture

Exploring Vietnam: from business to leisure

Stacey Martin with Dominica Nelson and Suzanne Gilham from NSW Trade & Investment.
Vietnam is somewhat like China but in many ways quite different. It is part of the group of 10 ASEAN countries. Its land size is similar to New Zealand but has a population of around 90 million people.
Some observations from my recent “Bliesure” trip

Continue reading Exploring Vietnam: from business to leisure

The benefits of Chinese Investment in Australia

Partners in prosperity: The benefits of Chinese investment in Australia

– a report by Deloitte Access Economics for the Australia China Business Council and sponsored by ANZ

Chinese foreign investment can play a very positive role in ensuring Australia’s ongoing economic security and prosperity. Australia rode on the sheep’s back for most of the 19th Century, and today Australia stands to benefit from Asia’s increasing demand for high-quality food products. Continue reading The benefits of Chinese Investment in Australia

Is FIRB approval required to purchase an Australian farm?

Australia has a vast amount of land and whilst not all is suitable for farming has become attractive to foreign investors particularly with the need for increased production with global population growth. 
Agriculture business

Proposed direct interests in an agribusiness generally require Foreign Investment Review Board Approval (FIRB) where the value of the investment is more than $55 million.

However, where the purchaser is from a country where Australia holds a Free Trade Agreement (FTA) there is no limit. Current FTA countries include New Zealand, Canada, Chilie, Korea, Japan, Thailand, Malaysia, Singapore and the US.

Agricultural businesses include forestry and fishing as well as processing for meat, poultry, seafood, dairy, fruits and vegetables, grains and sugar.

Agricultural land

This is land that can be used for a primary production business.

All proposed investments in agricultural land by foreigners must be notified to the Australian Taxation Office Register of Foreign Ownership. Approval is required where the cumulative value exceeds $15 million, again except FTA partners.

For further guidance go to the government websites Agricultural land investment and Agribusiness Investments.