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Australia introduces tougher foreign investment regime
Published Tue, Dec 1, 2015 · 09:50 PM
Sydney
AUSTRALIA put into force a robust new investment regime on Tuesday, cracking down on foreigners who unlawfully own residential properties and tightening scrutiny on purchases of farmland from overseas.
The government announced in May that it planned to fine and even jail foreigners who flouted rules that only allow them to buy new dwellings and not existing residential property.
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