uk national wants to buy property in OZ

[simonjulie]

Hi All
One of my tenants is from the UK and was asking me about buying real estate here in Sydney. He was head hunted from the UK to work out here for an insurance company about six months ago.
Does anyone know the process or requirements they need to address or even a link to a relevant web site? Are they allowed to buy here?
Any facts would be appreciated.
Cheers
Simon

 

[alexlee]

If they're not a citizen or permanent resident, it's the usual FIRB rules, right?
Alex

 

[simonjulie]

Thanks Alex
I thought that may be the case.
What are the rules?
cheers
Simon

 

[Mr. Fabulous]

http://www.firb.gov.au

Mark

 

[Qlds007]

As an ex pomme shoudln't have too much problem but the attached link maybe useful to him

http://www.firb.gov.au/content/default.asp

If he is looking to finance the property he could either look at a 70% Nodoc loan or alternatevely a 80% full doc loan.

 

[simonjulie]

Thanks Mark and Richard
I just had a quick read I will pass the link on top my tenant.
Simon