Foreign Investment Board information for foreign investors

foreign investor board

 

The Australian Government welcomes foreign investment. It has helped build Australia’s economy and will continue to enhance the wellbeing of Australians by supporting economic growth and prosperity.

Companies operating in Australia and Australian companies operating overseas are expected to act in accordance with the principles set out in the OECD Guidelines.

The Foreign Investment Review Board (the FIRB) examines proposals by foreign persons to invest in Australia and makes recommendations to the Treasurer on those subject to the Foreign Acquisitions and Takeovers Act 1975 and Australia’s foreign investment policy.

 

BUSINESS INVESTMENT

Australia’s Foreign Investment Policy (the Policy) provides guidance to foreign investors to assist understanding of the Government’s approach to administering theForeign Acquisitions and Takeovers Act 1975  (the Act). The Policy also identifies investment categories that need to be notified to the Government for prior approval, even if the Act does not appear to apply.

The Treasurer can block proposals that are contrary to the national interest or apply conditions to the way proposals are implemented to ensure they are not contrary to the national interest. Factors that are typically considered by the Treasurer when assessing proposals against the national interest are outlined in the Policy.

Confidentiality

The Government may share foreign investment application information with government departments and agencies for consultation purposes, including Australian State and Territories. However, the Government respects any ‘commercial-in-confidence’ information it receives and ensures that appropriate security is provided.

The Government will not provide such information to third parties outside of the Government unless it has the applicant’s permission or it is ordered to do so by a court of competent jurisdiction.

The Government respects the privacy of personal information provided by applicants, as per the requirements of the Privacy Act 1988  and the Freedom of Information Act 1982 .

 

 

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