Anthony Whatmore and Company are attorneys, notaries and conveyancers who possess the expertise and experience needed to assist you in making a foreign property investment. In partnership with Invest Australia, Anthony Whatmore and Company will facilitate the process and guide you through your Australian investment process.

What types of Australian property can you buy?

As a South African, there is nothing which prevents you from buying property in Australia. There are some conditions attached to the purchase which stipulates that the property must be an off-plan development in the pre-construction phase, or which is newly built. Furthermore, the property must be purchased directly from the developer.

What legal requirements need to be fulfilled?

Before purchasing a property in Australia, the South African investor would have to make an application to the Foreign Investment Review Board (FIRB) in Australia. Once the application has been made and all requirements have been fulfilled, the board will grant consent for the purchase to proceed. This process normally takes about 60 days to be concluded and the team at Anthony Whatmore and Company will be there to facilitate the process and guide you every step of the way.

How can Anthony Whatmore and Company help you?

Anthony Whatmore and Company work closely with the Invest Australia team and are the preferred legal partners Devmco Group have selected to use for this offshore investment initiative. With a proactive and hands-on team of professionals, the process needn’t be daunting or complicated. The Anthony Whatmore team strive to ease the burden and to be your guide on your journey to Australian property investment. Aside from facilitating the entire Australian property investment process, the team will also guide you on the payment of security deposits, facilitate payments across international borders, fulfilling suspensive conditions, reading through and discussing the sale agreement with you and also ensuring that the application to the FIRB is done properly.

Their aim is to make the Australian property investment process as seamless as possible.

How does the investment process work?

• Identify and select the property you want to purchase.
• Sign the reservation agreement.
• Pay your 30% deposit into the Anthony Whatmore and Company Attorney’s Trust account within 14 days.
• Make an application to the Australian Foreign Investment Review Board (FIRB) for consent and approval for the sale to proceed.
• Once the FIRB grants approval, the sale is then green-lined.
• The full sales agreement is then presented and perused and signed by all relevant parties.

What can I expect to pay once approval is granted?

• Once the approval is granted, you have 6 months to pay a further 20% on the value of the property, inclusive of the FIRB fees.
• Completing the loan application documents and opening of Australian bank account.
• Your loan application is then processed and approved by the relevant Australian bank.

*Note that all FICA documents, per South African banking law, are required.

Australia is an attractive investment opportunity for South Africans as they do not need to set up a company in Australia, or purchase property in conjunction with an Australian citizen in order to own Australian property. Contact the Invest Australia team to start your offshore investment journey and identify your next investment.