Education Beyond Vietnam 2024
On 14 January 2024 and 20 January 2024, Axegal together with partners such as CubeCorp, SET Education, LaFin Group, Vsenda and Vsita Dental successfully held the “Education Beyond Vietnam” series.
The first event was on 14 January 2024 at Sheraton Hotel in Ho Chi Minh City, and the second event was on 20 January 2024 at InterContinental Hotel in Ha Noi.
We welcomed over 100 clients and partners for both events.
Education Beyond Vietnam in Ho Chi Minh City on 14/01/2024
Our Principal, Vinson Luong presented with representatives from CubeCorp, SET Education and LaFin Group, which are leading experts in education consulting, real estate development and finance in Australia.
Education Beyond Vietnam in Hanoi City on 20/01/2024
Following the successful event in Ho Chi Minh City, Vinson Luong and the team continued to share with clients and partners in Hanoi on 20 January 2024 about the processes of buying a property in Australia, as well as the related laws for foreign buyers when buying and owning properties in Australia.
In the context of increasing interest in purchasing real estate in Australia, Vinson answered many questions from clients who wanted to buy a property or already owned a property in Australia.
Our Principal, Vinson Luong shared in his presentations the following key points:
General Timeline of Purchasing Your Property In Australia
Our Principal, Vinson Luong also shared in detail about stamp duty, especially for high-value real estate and additional tax for foreigners.
In addition, related taxes for foreigners are also emphasized so that customers have enough information when owning a house in Australia.
Current acts and regulations applied to foreign investors (FIRB)
- According to Australia’s foreign investment regulations, before buying real estate in Australia, foreigners need to be approved by the Foreign Investment Review Board (‘FIRB Approval).
- The type of property that can be purchased by a Foreigner Living Outside Australia depends on the FIRB applicant’s visa.
- Type of properties allowed to be purchased for temporary residents in Australia.
Potential changes in 2024 in laws applicable to foreign investors
In December 2023, the Australian government announced their plan to change the law for foreign investors, expected to take place in 2024.
At this event, our Principal Vinson Luong emphasized two main points, which were:
- Increase the investment application fee for foreigners by 3 times when buying used houses; and
- Increase the vacancy fee by 2 times.
Please follow us to know more about latest legal changes in real estate and investment in Australia.
Disclaimer: This article provides general information only. This article is not intended to be a legal advice or used as a substitute for detailed and competent legal advice. We recommend that you seek formal legal advice for your own situation.
