Investing in Australia as a Non-Resident

Is there a foreign borrower that would like to capitalise their financial expenditures in the Land Down Under or the Great Outback by owning a home or starting a business in Australia? Home loans (i.e., mortgages) and commercial loans are available for non-Australian residents, also known as expatriates (expats). 

Favourable mortgage pre-approvals for foreigners. 

Expatriates from one of the 19 pre-approved countries or territories that have reportable income from one of the 13 preferred currencies can submit a loan application with ease. On the one hand, an Australian Expat Home Loan for non-Australian residents can get a home loan to cover up to 90% of a property value. Then if the foreign borrower is from one of the two conditionally approved or reports income with one of the 29 secondary currencies, an Australian Expat Home Loan is still possible, but at a higher interest rate.

Foreign commercial investments. 

Expats who would like to invest in an Australian property for business purposes may need to obtain approval from the Foreign Investment Review Board (FIRB) before submitting a commercial loan application, especially if the property is on developed or sensitive developed commercial land. Properties on vacant commercial land require government approval. Foreign investors from countries that are a part of the Free Trade Agreement (FTA) enjoy higher monetary thresholds to maximise their buying power.

Non-residents enjoy exclusive loan benefits. 

A FIRB approval may allow foreign lenders to save up to $6,300 on property investments valued at less than $1 million. Moreover, expatriates have similar loaning processes that enable them to borrow as much as an Australian citizen. Expats can provide pay slips and also have the option to provide a letter of employment. Also, many mortgage brokers have specialist team members that can speak to an expat in their preferred language and assess their situation to get an appreciative settlement.