New portal

Digital transformation

We are modernising how foreign investment is managed in Australia through the delivery of a new Foreign Investment Portal. Once launched, this portal will replace the current FIRB Application Portal.

New portal

The new Foreign Investment Portal is currently being built for investors and their agents.

The portal will provide a more efficient, functional, transparent, and secure experience for users.

Key changes

The new portal will allow users to:

  • login using their Digital ID
  • submit foreign investment submissions through a new, structured submission process
  • save partially completed submissions and return to finish later
  • communicate with the Treasury about submissions
  • access guidance in the system at the point it’s needed
  • manage compliance and reporting requirements.

Benefits

The new portal will deliver many benefits including (but not limited to):

  • secure, modern technology that safeguards personal and protected information
  • a consistent digital experience with many other Australian Government services
  • greater clarity of information required during the submission process
  • reduced requests for further information
  • centralised access to submissions and in-built support improves information retention, administrative efforts, and response times
  • quicker processing times and decisions for investors and the Australian community.

Why the Treasury will no longer accept cover letters

The current FIRB Application Portal allows submissions before all necessary information is available and accepts cover letters instead of using data fields. These practices create several issues, such as:

  • increased administrative burden and manual data entry
  • delays in processing and decision-making
  • challenges in regulating foreign investments without extensive manual intervention
  • inhibited ability to conduct advanced analysis, impacting decision-making and reporting.

The new portal will prompt all required information upfront, in a new structured submission process, removing the need to attach cover letters.

This change will streamline Treasury’s processing times and deliver quicker turnaround on decisions for investors and the Australian community.

Delivery timeline

We are currently on track to complete the build of the new portal in March 2025.

Stay up to date

An online information session is planned for 26 September 2024 from 1:00 pm to 2:00 pm.

To join our mailing list and receive an invite to the information session, email the Foreign Investment Transformation Consultation team at FITC@treasury.gov.au.

We will increase our engagements over the next 6 to 9 months to prepare for the launch of the new portal.

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