Please be advised that Treasury has updated the FIRB Application Checklist to provide greater clarity to applicants on information requirements when submitting a (non-residential) application. It is recommended that all applicants review the Application Checklist. This will ensure applications are consistent with the updated information requirements prior to submission to avoid significant delays in processing.
Last updated: 3 September 2020 On 29 March 2020, the Treasurer announced that due to the impacts of the coronavirus outbreak, all monetary screening thresholds will be temporarily reduced to $0. The Foreign Acquisitions and Takeovers Amendment (Threshold Test) Regulations 2020 gave effect to this temporary change.
A new, enhanced fee estimator has been developed to provide improved fee estimates for different types of foreign investment applications. When the fee estimator is accessed via the FIRB Application Portal, applicants can convert their fee estimate into an application using the new convert to an application feature.
This checklist sets out the information that must be included in all foreign investment applications (except residential real estate applications).
Source: Productivity Commission, Foreign Investment in Australia.
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If an entity satisfies the definition of 'foreign company' in section 9 of the Corporations Act 2001 (Corporations Act) - that is, generally, a company registered outside Australia - it must be registered with ASIC to carry on business in Australia.
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