What options do Chinese investors interested in gaining residency have in buying Australian real estate?

Answers

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  Quentin Kuo

  Quentin Kuo Law + Immigration

  July 05, 2021

  According to Australian government website, temporary residence visas take between 15 and 33 months. Permanent visas will follow depending on which investment stream and program you participate in. All Chinese nationals can apply for investment visas. The tension between the countries, in practice, may place some obstacles, but mainly it is on the operations of travel and transfer of funds, which were already apparent before the current debacle. There are online mediums to inspect properties and I suggest you to exploit this to your advantage. However, you will require your visa before purchasing, or chances are that the Foreign Investment Review Board will not allow your bid and purchase. Alternatively, you could apply for another visa to enter the country, such as business tourist visas; however, you may be subjected to current COVID-19 quarantine rules. For more information on Australian real estate, please see information provided by the Australian Department of Home Affairs.

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  Venkateswaran Palat Krishnan

  Ven Waran

  July 03, 2021

  Investment in real estate directly will not qualify investors from any nationality for residency in Australia. However, investors from all nationalities can invest in commercial real estate through managed funds and qualify for residency.  For identifying investment opportunities, you would need to apply for a separate visa to visit Australia.

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  Christina Lim

  Regis Gateways Pty Ltd

  July 29, 2021

  There is no direct connection between gaining residency and buying Australian real estate. In short, you can't 'earn' a visa through property investment but you certainly can show intent to settle here to the state that nominates you for business/investment migration by purchasing real estate post- visa grant. You should also know that foreigners have to apply for foreign investment approval from FIRB (Foreign Investment Review Board) in Australia for permission to invest in residential properties and only new properties are allowed for investment. Commercial properties tend to be easier to acquire. If you’re a foreign citizen living overseas, then you are unlikely to be allowed to buy a property to live in Australia. This is because you don’t have a valid visa which allows you to stay in Australia. If you’ve been granted a temporary residency visa (which will be the case if it involves a subclass 188 Business innovation and investment stream visa or skilled/work visa for example) then you may be able to buy a home before you move. Ties between Australia and China maybe strained for now. However, it is more the capital outflow restrictions from China that is hindering the investment process. On Australia's end, investor potentials are evaluated in accordance to individual situation and type of property purchased. You will need to get a separate visa to enter Australia for inspection of properties. If by residency you mean permanent residence status, the process can be as short as four-five months (depending on type of visas). If you are applying for a business/investment visa, it is a provisional visa (subclass 188) leading to permanent residence visa (subclass 888), so the process to obtain permanent residence status could take up to four-five years, depending on the quality of application lodged, your individual background and whether you have fulfilled all conditions in the shortest timeframe possible under the subclass 188 stage.