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Buying land on a 491

Buying land on a 491

Old Nov 7th 2021, 1:23 pm
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Default Buying land on a 491

Hi! We are currently going through the transition from 417-491 after an invite to apply from QLD.

Hoping someone may be able to help, we are hoping to buy some acreage for horses and just put a tiny house on it, but can’t seem to find a good place to find info on fees etc.

Would we still have to go through the FIRB if we buy vacant land?

From what I can see, we would avoid the 3% fee on foreign investment fee, as there is no ‘house’ sale as such.

We have a property in the UK we are thinking about selling to be able to stump up a bigger deposit, but will hang on to it until we can get some solid advise.

Has anyone else been through this process recently and wouldn’t mind sharing or know of a good company/advisor who is hot up on temp visa purchases, a friend who bought a house a couple of years ago just found out their solicitor didn’t do it correctly and didn’t apply for permission, just paid the fee- she now owes a lot more money and risks the house being sold by the government!

Really hoping to avoid renting for the next 3 years until we can get PR as no rentals will take the dog/goats(!) + paying agistment all seems like $$ down the drain.
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Old Nov 7th 2021, 2:48 pm
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Default Re: Buying land on a 491

Originally Posted by ponylife
Hi! We are currently going through the transition from 417-491 after an invite to apply from QLD.

Hoping someone may be able to help, we are hoping to buy some acreage for horses and just put a tiny house on it, but can’t seem to find a good place to find info on fees etc.

Would we still have to go through the FIRB if we buy vacant land?

From what I can see, we would avoid the 3% fee on foreign investment fee, as there is no ‘house’ sale as such.

We have a property in the UK we are thinking about selling to be able to stump up a bigger deposit, but will hang on to it until we can get some solid advise.

Has anyone else been through this process recently and wouldn’t mind sharing or know of a good company/advisor who is hot up on temp visa purchases, a friend who bought a house a couple of years ago just found out their solicitor didn’t do it correctly and didn’t apply for permission, just paid the fee- she now owes a lot more money and risks the house being sold by the government!

Really hoping to avoid renting for the next 3 years until we can get PR as no rentals will take the dog/goats(!) + paying agistment all seems like $$ down the drain.
Hi. According to this from the Department of Home Affairs, people on temporary visas need to apply to the FIRB if they want to buy land in Australia.

Australia has strict laws on foreign investment. You will need permission from the Foreign Investment Review Board to buy a house or land if you are not a permanent resident currently living in Australia.
https://immi.homeaffairs.gov.au/sett...topics/housing

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Old Nov 7th 2021, 3:54 pm
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Default Re: Buying land on a 491

Yes FIRB applies to land purchase as well. There are also time limits to build on the land.

You must make any offer conditional on FIRB approval and you have to make and pay for a new application for each property as they are specific to that property. You should be able to make the application yourself you do not need a solicitor to do it for you.

Also as non PR higher stamp duty may be payable and any discounts or incentives will not be available. It might pay to wait…….

Last edited by rammygirl; Nov 7th 2021 at 4:04 pm.
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Old Nov 7th 2021, 6:56 pm
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Default Re: Buying land on a 491

Thread moved to main forum - not a visa issue,
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