Can China people buy a house in Laos?

For China residents who want to buy a house in Australia, they must consider whether they can meet the conditions for buying a house, otherwise they cannot buy a house in Australia. Especially in Australia, the conditions for buying a new house and a second-hand house are different, so for those who want to buy a new house and a second-hand house, it is necessary to distinguish what conditions need to be met.

What do China people need to buy a house in Australia?

For China residents, they are non-Australian residents, that is, foreign citizens who do not live in Australia, including those who hold short-term visas and are allowed to stay in Australia for a limited time. For such residents, it is generally impossible to buy real estate directly in Australia. If they want to buy, they need to submit a FIRB application to get the qualification to buy, and they can only buy a new house.

If you buy a second-hand house, you need to hold a temporary visa that allows them to stay in Australia for more than 12 months, and you need to apply through FIRB to buy a second-hand house in Australia, and it is for your own use. It can be seen that even if you buy a qualified second-hand house, there is not much investment space. It's okay if you live by yourself. See Can China People Buy Second-hand Houses in Australia?

Therefore, it can be seen that one of the most important conditions for buying a house in Australia is to obtain an FIRB application first. If it is not approved or violates FIRB regulations, it will be punished, as follows:

Purely overseas: fine of $ 2040+ additional FIRB application fee.

Australian visa holder: fine of $ 10200+ supplementary application fee.

In addition, the two will also face a civil fine as high as 10% of the house price.

Under what circumstances can I not apply for FIRB to buy a house?

In some cases in Australia, you can buy a house directly without applying through FIRB, mainly in the following ways.

1. Buy the property that can be sold to foreigners with the prior approval of the developer. 2. Buy some residential real estate in the comprehensive tourist resort; 3. Rights and interests acquired by inheritance according to will or law.

4. Rights and interests obtained from the Australian government (federal government, state, regional government or local government) or legal enterprises established for public purposes.

As for the conditions for buying a house, for China residents, if they want to buy a new house, they only need to apply through FIRB, but if they want to buy a second-hand house, they need to meet more conditions, except holding a temporary visa that allows them to stay in for more than 0/2 months. There are the following situations.

1. Major enterprises in Australia can apply for buying second-hand houses for employees living in Australia.

2. If you buy a second-hand house for decoration, as long as the decoration proposal can increase the housing stock in Australia (at least two houses are needed to demolish one), or it can show that the existing house is abandoned or uninhabitable, it can generally be approved.