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Commonwealth act
This law controls how foreign persons and companies (people or businesses based overseas, or companies where foreigners hold significant ownership) can buy into Australian assets, businesses, and land.
A foreign person includes:
The Act covers three main categories of action that a foreign person might take:
Significant actions — Buying into Australian businesses, companies (corporations/unit trusts), or land in ways that could result in the foreign person gaining control. This includes buying shares, acquiring business assets, or changing company rules to give foreigners influence.
Notifiable actions — A narrower set of actions (mainly buying into agribusinesses, acquiring a substantial interest in an Australian company, or buying Australian land) that must be reported to the Treasurer before they happen. You cannot proceed until you get approval.
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Direct links to the current provisions in Foreign Acquisitions and Takeovers Act 1975.
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View on official registerSourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
National security actions — Some acquisitions trigger special national security review powers even if they aren't 'significant' in the economic sense. This includes buying into 'national security businesses' (e.g. defence contractors, critical infrastructure) or 'national security land' (e.g. land near military bases).
The Treasurer (Australia's senior finance minister) has broad powers to:
Not every foreign purchase triggers review. Generally, the deal must exceed certain monetary thresholds (set by regulations) before the rules apply. Lower thresholds apply to more sensitive sectors like:
For notifiable actions, you must:
Failing to notify before acting, or proceeding while prohibited, can result in criminal offences or civil penalties.
There is a public register (the Register of Foreign Ownership of Australian Assets) that records foreign ownership of Australian assets. Foreign persons who acquire, hold, or dispose of certain interests must notify the Registrar, even if their transaction didn't require Treasurer approval.
If you are a foreign person (or a company with significant foreign ownership) looking to buy Australian land, invest in an Australian company, or acquire an Australian business — especially in sensitive sectors like agriculture, defence, or critical infrastructure — you likely need government approval before you act, and you must register your ownership. Failure to comply can mean heavy penalties or being forced to sell what you've bought.