Can a Non-resident Buy a Business in Australia?
Can a non-resident purchase and operate a business in Australia?
A non-resident of Australia can purchase a business (excluding real property ie. land/buildings) in Australia provided it is valued at less that $231 million (as at 1 January 2011). However, to then reside in Australia and work in the business will require a relevant visa. Further, a non-resident seeking to undertake a business in a corporate structure is unable to do so without appointing a director who is an Australian resident. For non-residents seeking to purchase a business in Australia, it is highly recommended and you speak to a migration agent.
You can find a migration agent by visiting the Migration Agents Registration Authority at MARA.
For general information on business visas, you should visit the Department of Immigration website at IMMI.
For general information about purchasing businesses and/or property in Australia visit the website of the Foreign Investment Review Board at FIRB
Joe Kafrouni, Legal Practitioner Director, Kafrouni Lawyers
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The information provided by Kafrouni Lawyers is intended to provide general information and is not legal advice or a substitute for it. Business people should always consult their own legal advisors to discuss their particular circumstances. Kafrouni Lawyers makes no warranties or representations regarding the information and exclude any liability which may arise as a result of the use of this information. This information is the copyright of Kafrouni Lawyers.
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