Foreign Buyers
Current regulations determine a number of key issues that can impact on overseas buyers:
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Ability for temporary residents to purchase established dwellings under specific guidelines
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Ability for temporary residents to purchase new dwellings (never been occupied or occupied for less than 12 months)
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Ability for temporary residents to purchase vacant land solely for the purposes of residential development
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The notification processes for these acquisitions and or development/re-development
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Exemptions from the Act
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Mandatory notifications for vacant land, commercial property, mining tenements and forestry acquisitions
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Acquisitions of property with accommodation facilities
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Acquisitions of rural land
Victorian Government guidelines for purchasing property by a foreign person.