Are you an individual seeking to understand the process of registering foreign ownership of Australian assets? Our step-by-step guide is here to assist you. With clear instructions and valuable insights, you’ll navigate the registration process with ease.
Welcome to our comprehensive step-by-step guide for individuals on the Register of Foreign Ownership of Australian Assets. This guide is designed to provide you with all the essential information, including necessary forms, important links, and required documents. We understand the importance of having a centralized resource that covers every aspect of the registration process. From explaining the procedure in detail to providing convenient access to the relevant forms and documents, this guide is your go-to source for successfully navigating the Register of Foreign Ownership of Australian Assets. Let’s dive in and ensure a seamless and compliant registration process.
Foreign persons must give notice of certain actions relating to Australian land, water, entities, businesses and other assets to the Registrar of the Register of Foreign Ownership of Australian Assets.
You need to use Online service for foreign investors to give a register notice to the Registrar (register an asset).
Online Services for Foreign Investors
You can use ATO Online services for foreign investors to manage your obligations relating to Australian investments.
You can use Online Services for Foreign Investors to:
- Lodge residential property applications and pay associated fees
- Monitor your residential application status
- View the history of your residential property applications
- Manage your foreign person details
- Manage residential and non-residential asset registrations
- Lodge vacancy fee return lodgments
- Review your payment history
- Delegate authority to representatives to act on your behalf
General Client Information
Set Up Access to Online Services for Foreign Investors
You need to complete a setup process before you can access Online services for foreign investors. You may do so by clicking the following link – Access Online services for foreign investors
You will need:
- a myGovID to access Online services for foreign investors
- to complete a one-off Registration.
myGovID
As a foreign investor, you (and if applicable your representatives) need the myGovIDExternal Link app to access Online services for foreign investors.
myGovID is the Australian Government’s Digital Identity app you can download to your smart device that lets you prove who you are when logging in to a range of government online services. It is different to a myGovExternal Link account. Your myGovID is unique to you and can’t be shared.
Registration
You need to complete a one-off registration the first time you access Online services for foreign investors.
You must set up the access yourself. An authorised representative cannot do this for you. After you have access, you can authorise a representative to access Online services for foreign investors on your behalf.
Use your myGovID to log in to Online services for foreign investors. You’ll receive a 4-digit code that lets you enter the myGovID app.
Online services for foreign investors will log out after 25 minutes of inactivity. You must complete your transaction in one session, as you cannot save your progress.
Authorized representatives will need to have:
- their own myGovID
- an email address that only they can access.
Specific Client Information
First Time Access to Online Services for Foreign Investors – Set Up Instructions
This guide relates to setting up access to Online Services for Foreign Investors as an individual or business without an ABN.
Once you have completed the steps, you:
- Only need to use your myGovID to log in to Online services for foreign investors in future;
- Can authorize others to act on your behalf within the service.
Step 1: Set Up Your myGovID
You need a myGovID with at least Basic Identity Strength. You will not need identity documents to set up a myGovID with a Basic Identity Strength.
You can set up your myGovID in three steps.
- Download the app from the App Store or Google Play.
- Enter your personal details including your name, date of birth and email address.
- Verify your identity to increase your identity strength.
For more information, there is a video for your reference on https://www.mygovid.gov.au/
Step 2: Log in to Online Services for Foreign Investors
Use your myGovID to log in to Online Services for Foreign Investors
Step 3: Add Your Records
This step is to determine if you already have a record with the Australian Taxation Office. If you do, we’ll ask you to provide information to complete a one-off proof of identity check.
You will have a record with the ATO if you have either:
- An Australian tax file number (TFN)
- Previously submitted a foreign investment application
- Previously registered your investment in Australia (residential real estate, agricultural land or water)
Select Add to be directed to the Add entity screen. How you complete the questions on this screen depends on if you are adding:
- Yourself as a foreign investor
- An entity (business) company, foreign government or trust as a foreign investor without an ABN.
Adding Myself as a Foreign Investor
- At the Add entity screen:
- Who are you representing? – select Myself to register yourself as a foreign investor
- Have you previously interacted with the ATO?
- If you have a TFN or have invested in Australia, select Yes
- If this is the first time you are planning to invest in Australia, select No then Next and go to Step 5: Complete the foreign investor registration
- Do you have a linking code from the ATO? This option will only appear if you answered yes to have previously interacted with us
- select No then Next, and go to Step 4: Confirm your record, or
- select Yes if we have given you a code then complete the link.
Add my Entity
If you have previously interacted with the Australian Taxation Office, you will need to contact them for an authorisation code before completing this step.
The person who contacts us must already be listed as a contact on one of the forms lodged by the entity. You will need to answer questions about these forms, including questions about any fees the entity may have paid. When we have completed the proof of identity check, we will email the authorisation code to the email address you used when setting up your myGovID.
- At the Add entity screen:
- Who are you representing? – select My Entity to register a company, foreign government or trust as a foreign investor.
- Have you previously interacted with the ATO?
- If you have a TFN or have invested in Australia, select Yes
- If this is the first time you are planning to invest in Australia, select No then Next and go to Step 5: Complete the foreign investor registration
- Do you have an authorisation code from the ATO? – select Yes then Next (this option will only appear if you answered Yes to have previously interacted with us)
- at Claim authorisation, type your authorisation code; the code is case sensitive and valid for 24 hours; if your code has expired you will need to contact us for another code
- select Verify
- select the declaration then Accept
- a message will appear Authorisation successful
- select Continue
- select your entities record then Next
- go to Step 5: Complete the foreign investor registration.
Step 4: Confirm Your Record
At the Link to ATO screen, read and accept the terms and conditions then select Next.
A message will display, either:
- ‘Your ATO record has been found’ with your details – select Next to confirm it is your record, or
- ‘Unable to match information’ – select Continue and go to Step 5: Complete the foreign investor registration.
If your ATO record has been found, you’ll be asked questions about information we have on our records. The questions will relate to if you:
- have an Australian tax file number (TFN)
- don’t have a TFN.
Step 5: Complete the Foreign Investor Registration
You need to complete the foreign investor registration when you access Online services for foreign investors for the first time.
The registration must be completed in one session. Before you start, collect the information needed to complete the registration.
To register:
Register Myself
When registering yourself as the foreign investor, providing the following information is mandatory unless specified optional.
Registration Details
- Are you a registering as a foreign person under the Foreign Acquisitions and Takeovers Act 1975? – select Yes, unless you are now a permanent resident
- Date you became a foreign person. Select the calendar and if:
- you already have an asset in Australia select the date the asset was acquired; for example the settlement date of a property
- this is the first time you are investing in Australia select the date you are completing this registration (today)
- Nationality
- Provide any Australian reference numbers previously received (optional). Type your ABN or ARN
- Passport or Visa (optional).
Contact Details
- Email address to send you correspondence
- Address (residential and postal)
- Create a secret question and answer that you can easily remember and others are unlikely to know.
Register an Entity
Note: This is only for entities that don’t have an ABN.
When registering your entity as the foreign investor, providing the following information is mandatory unless specified optional.
Registration details
- Is the entity registering as a foreign person under the Foreign Acquisitions and Takeovers Act 1975? – select Yes or No
- Date the entity became a foreign person – select the calendar and if:
- you already have an asset in Australia select the date the asset was acquired
- this is the first time you are investing in Australia select the date you are completing this registration (today)
- Entity type – select Company or Trust
- Is the entity a foreign government investor – select Yes or No
- Provide any Australian reference numbers previously received for your ABN or ARN (optional)
- Entity legal name
- Country of incorporation
- Source country – select Add and provide the Source country and Percentage of ownership then Save (The source country is the nationality of the investor, shareholder or trustee. If there is more than one source country, provide the percentage of ownership for each country. Total ownership must equal 100%)
- Entity contact details – type the email address (this can be a different email address to the primary authorised contact), registered address and postal address.
Authorized contact details
- Are you the primary business contact for this entity? – this must be an employee, business manager, director or owner of the entity
- Role – employee, business manager, director or owner
- Email address of the primary authorised contact
- Alternate contact person for the entity (optional). If you have an alternate contact you need to provide their name, email address and role.
Step 6: Using Online Services for Foreign Investors
Once you have completed the relevant steps for this one-off registration process you can access all functions in Online services for foreign investors.
You will now only need your myGovID each time you log in.
In conclusion, our step-by-step guide for individuals on the Register of Foreign Ownership of Australian Assets equips you with the necessary knowledge and resources to navigate the registration process effectively. By providing all the essential forms, important links, and required documents in one comprehensive resource, we aim to simplify the registration process and ensure compliance with Australian regulations. Whether you are an investor, a foreign national residing in Australia, or simply interested in understanding the foreign ownership landscape, this guide empowers you to confidently register your assets. By following the outlined steps and utilizing the provided resources, you can contribute to the transparency and accuracy of foreign ownership records in Australia. We hope this guide serves as a valuable tool in your journey towards fulfilling your obligations and maintaining compliance within the Register of Foreign Ownership of Australian Assets.
