Applying for FIRB: Two Thumbs Up or Two Thumbs Down?

There are many foreign investors in Australia and still growing in number up to now. Good news because Australia welcomes you for more opportunities for your business venture. To get you started, first you have to apply on FIRB. Have you heard it before? If you tried investing to other countries before then you might have an idea on what it is.

What is Foreign Investment Review Board or FIRB in the first place? They are the governing bodies who assess the applications for the foreigners who are planning to have an investment or buy a home in the country. You can surely invest in Australia however the requirements varies depending on what would you like to invest.

Then, what should be your first step? First, you have to submit an application through an online system. You can be sure that all applications will be acknowledged by the officials and will automatically send you a confirmation afterwards. Remember that there are no fees or any kind of charges in applying so you have to be careful to those unauthorized individuals who are trying to make money out of your needs.

After submitting your statutory notice or retrospective form and your declaration of eligibility you will immediately get the result for a short period of time. But if you have bad credits on the past it may take you more or less 90 days to get your results. That is why you have to make sure that you don’t have issues such as Part 9 also known as debt agreement.

Apart from this, if you have other plans like reducing mortgage insurance payment, getting cash while refinancing, changing fixed rate mortgage to a variable rate, you have to avail a Low Doc Refinance Loan.

Make sure that everything is well-managed including your previous accounts so that your way to getting your FIRB will be easier. Now, what are your remarks: two thumbs up or two thumbs down? You choose and experience the whole process of getting your dream properties in Australia!