Australia is an attractive market for foreign investors, particularly when in comes to owning property including land. However, with escalating property prices in Sydney and Melbourne, the Australian and State Governments have made it more restrictive for foreign residents to purchase residential property in Australia.
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.
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.
This is land that can be used for a primary production business.
David To is a Private Client Director and manages a team of specialised bankers who deliver tailored banking and financial services to the banks wealthiest clients and families. This includes
Lending for investment, home and business
Wealth Advisory and Risk Management via JB Were
Treasury and foreign exchange
Estate Planning and Philanthropy
Born in Hong Kong, David can communicate fluently in Cantonese, Mandarin, Indonesian Bahasa and English and is active in the local Chinese and Vietnamese communities. As the NSW Asian Ambassador for NAB Private, David and his highly skilled team serve the banking and wealth needs of Asian clients.
Who we help
High net worth individuals and families looking for dedicated banking and investment wealth services for both domestic and international needs. Having a range of Asian language skills amongst the team is valued by migrants coming from Asia.
With so much going on in the world, lifestyle destinations such as Australia and New Zealand are benefiting from investor migration. Whilst in both countries the majority have been from China, enquiries are increasing from other Asians countries as well as UK, US and South Africa.
The number of Significant Investor Visa (SIV) applications approved under the new investment regime to 31st March 2017, which includes $500,000 of the $5M into venture capital and the balance in Australian managed funds, has increased by 19 in last month to a total of 155, with a further 150 applications lodged and awaiting approval.
The top five source countries of investor migrants to Australia is:
China – 88%
Hong Kong – 2.9%
Malaysia – 1.3%
South Africa – 1.2%
Vietnam – 1%
The NSW government has recently held roadshows in China and Malaysia and in June will present on the business, investment and lifestyle opportunities in Vietnam and Hong Kong.
Stacey Martin has an extensive career in financial services and private wealth management and founded the Expat Advisors Community network for professionals with internationally connected clients. As a trusted authority on the Significant Investor Visa (SIV) program, Stacey provides relationship management services for applicants to Australia and New Zealand, predominantly from China, Vietnam and India. She is the author of “Smooth Road to Travel – China to Australia” which can be downloaded here.
Network for professionals with international clients