COVID-19: Australia’s foreign investment framework changes

The Foreign Investment Review Board’s (FIRB) monetary screening thresholds have been reduced to A$zero.

In response to the current environment that is materially impacting the financial position of Australian businesses, the Australian Government has announced new foreign investment measures to take immediate effect that are designed to help protect the interests of Australia and Australian businesses.Key points: FIRB decision period to be extended from current 30 day period to up to six months for both new and also existing applicationsUrgent applications for approval that relate to investment...

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Authors: David Morris, Paul Wentworth

Published Date: 30 March 2020