Non Residents
Can non-residents invest in Australian real-estate?
Yes, non-residents who wish to invest in Australian real-estate must have approval from the Foreign Investment Review Board. There are conditions governing the approval for the following foreign investment property types:
- Residential Real Estate
- New Dwellings and Vacant Land
- Established Dwellings
- Commercial Real Estate
Are non-residents eligible for Ijarah Finance?
Yes! Ijarah Finance are proud to offer non-residents the ability to enter the Australian property market without having to enter into an interest-based mortgage. Applicants must already have approval from the Foreign Investment Review Board before making an application for Ijarah Finance.
Serviceability
A serviceability assessment will be undertaken to determine eligibility for Ijarah Finance. All documents must be translated by the National Accreditation Authority for Translators and Interpreters (NAATI).
Checklist for Non-Residents
- Approval from the Foreign Investment Review Board.
- Evidence of applicant’s deposit held in an Australian bank account is required.
- Appointment of an agent (other than Ijarah Finance) to act on your behalf.
- Proof of Identification (100 points). Such as Drivers license, passport, australian medicare cared etc.
- If refinancing, copies of last 6 months most recent bank statements.
- Receipt of independent legal advice, confirming borrowers fully understand terms, conditions and obligations of the loan and the mortgage.
- Applicant to obtain a current copy of their credit history report from their home country
- Evidence of sufficient funds to complete transaction held in an Australian bank account in the name of the applicant
- Receipt of translator certificate for applicant confirming they have read and understood the transaction documents.