A foreign investor wants to purchase an established residential property in Australia. What FIRB requirement must they typically meet?
Correct Answer
B) They must obtain FIRB approval and generally cannot purchase established residential property
Foreign investors generally cannot purchase established residential properties in Australia and FIRB approval would typically be refused for such applications. Foreign investors are generally limited to purchasing new dwellings or vacant land for development, subject to FIRB approval.
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A foreign investor wants to purchase an established residential property in Australia under FIRB regulations. What condition must typically be met for approval?
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