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Overview of Australia's foreign investment approval (FIRB) regime

Financing Foreign Investment Review Board (FIRB) Mergers & Acquisitions Property & Development

The FIRB regime from 1 January 2021: what you need to know

Significant changes to Australia's foreign investment approval (FIRB) regime came into effect on 1 January 2021. Our FIRB experts have summarised the key information you need to know about how the new FIRB regime operates.

The key changes include:

  • new mandatory FIRB approval requirement for investments in national security businesses and national security land
  • new 'last resort' power for the Australian Treasurer to unwind, on national security grounds, transactions that were previously granted FIRB approval
  • new 'call-in' power for the Australian Treasurer to review and make orders (including unwind orders), on national security grounds, in respect of a broad range of transactions that did not require nor were previously granted FIRB approval
  • significantly increased penalties for non-compliance with the FIRB regime
  • a new FIRB filing fee regime