GSZLB

I heard a rumour that expats cannot buy property in Oz until you get permanent residency status. Is this correct?

I'm looking to move to Sydney after getting the visa and was hoping to buy an apartment near the city as an investment (after a period renting and familiarising first).

Thanks
Gareth

ABCDiamond

It is possible, but you need to get special permission from a government department, not sure which it is now, but it is specifically for foreign nationals buying property.

ABCDiamond

Foreign Investment Review Board

evorobin

I bought a house three months after arriving on a temporary residencey visa. Don't recall be asked tbh...

ABCDiamond

I'm not sure that anyone ACTUALLY gets asked

I wonder how they would find out ?

evorobin

When they catch you growing skunk and seize your assets most probably

MrsDagboy

You need to check with FIRB as ABC mentioned. Dagboy is on a temp visa & we bought a property, however I am a citizen & we have bought it to live in which is the difference I believe. We cant buy any investment properties (in both names, they have to be in my name only) until he has PR. Do a search on here, its been discussed quite a few times.

gld

FIRB Approval is required for those on temp visas - you can request that and you can get it post offe, i.e. you can have retrospective approval which you should get automatically - they will tell you not to do it again.

I heard from a senior civil servant because it concerned us when advising what the downsides were and he said that if you are on a temp visa and you do not advise the FIRB on two occasions that FIRB tell DIMIA and DIMIA don't like it. It could cause visa to be reviewed - if in doubt call FIRB.

As for finding out - they will pick it up via the "system".

Cheers