Overseas Investment Act Changes
Who Can Buy?
• Investor 1 or Investor 2 visa holders (granted before 28 July 2022)
• Active Investor Plus visa holders
Companies and trusts can also purchase, provided they meet specific ownership requirements (including at least 25% ownership by the visa holder or their spouse).
What Can Be Purchased?
• Residential or lifestyle land
• The total investment must exceed $5 million
• This can be an existing home, or
• Land plus a new build (combined cost over $5m)
The $5m includes the land, improvements, and build costs — but excludes chattels.
Land must not be classified as “otherwise sensitive” (e.g. large rural blocks or certain coastal land).
Property Use;
There are no usage restrictions under the Act. The property can be used as a primary residence or a holiday home.