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IMPORTANT INFORMATION FROM FOREIGN INVESTMENT REVIEW BOARD WEBSITE:

Foreign Investment Review Board: http://www.firb.gov.au/content/who.asp?NavID=48

"How to Apply: Residential Real Estate" page:
http://www.firb.gov.au/content/how_to_apply/residential_realestate.asp?pf=1

FIRB Policy
http://www.firb.gov.au/content/_downloads/Australia's%20Foreign%20Investment%20Policy.pdf