Submitting an investment proposal for review is the way you tell us what your investment intentions are. Once you have submitted your proposal and paid the relevant fee, the review and decision process commence.

If you fail to submit an investment proposal before taking your investment action, you should still tell us about it by submitting a retrospective notice.

Where to submit an investment proposal sets out where to lodge your submission.

What to include in a submission sets out the information that your submission should contain.

We recommend you seek independent legal advice if you have any doubts about how Australia’s foreign investment framework applies to you or your proposed investment. This information does not constitute legal advice.

Before you submit an investment proposal for review

• determine whether you are a foreign person for the purposes of the foreign investment framework
• read the guidance notes that apply to your type of investment
• decide whether you need to give notice of your proposed investment or apply for an exemption certificate
• obtain independent legal advice.

When you submit an investment proposal for review

• Go to what to include in a submission to make sure you have all the information you need.
• If you enter an agreement to take an investment action before you receive a decision, you must ensure that the contract is conditional on receiving a no objection notification or exemption certificate before you sign the contract.
• Submit your investment proposal or apply for an exemption certificate using the foreign investment Portal.
• Pay the applicable fee, ensuring you use the Payment Reference Number. Your submission cannot be considered until the fee has been paid.

Fees are based on the type and value of your proposed investment.

Generally, once the fee has been paid, the Treasurer has 30 days to make a decision. You may ask for the time to be extended or we may initiate an extension if necessary.

After you submit an investment proposal or apply for an exemption certificate

• Respond to any questions or additional information requests.
• Tell us about any errors you made in your submission. 

Once you receive a decision

• Understand and comply with any conditions attached to your no objection notification or exemption certificate (including those that may be ongoing for the life of the investment).
• Comply with the terms of a prohibition or disposal order.
• Inform yourself of your notification and reporting obligations.
• Retain a copy of your no objection notification or exemption certificate.
• Keep records of your investment actions covered by the foreign investment framework. 
• You may need to give a register notice about your investment to the Registrar of the Register of Foreign Ownership of Australian Assets. For more information, visit ATO’s foreign investment in Australia page.
• Inform yourself about the Australian consumer, business, employment and other laws that apply to your investment.
• Respond to any questions or information requests about compliance with your obligations under the foreign investment framework.
• Tell us about errors you made in your submission.

There are civil and criminal penalties for non‑compliance with any conditions or reporting obligations associated with your investment action.