Australia: Foreign bank activity on Australian shores

In this video interview, Peter Luke from our Banking & Finance team speaks with BRR Media about some of the recent trends in foreign investment in Australia.

Peter discusses:

• the foreign investment trends that have emerged since the global financial crisis (GFC), particularly the contraction of investment by US and European banks alongside the strengthening presence of Asian banks
• the areas upon which Asian investors are particularly focused, including agribusiness as well as property connected with opportunities in specific industries such as tourism (hotels), education (schools) and healthcare (retirement villages, aged care centres and private hospitals)
• how foreign investment on Australian shores is being supported
• barriers to entry for foreign investors, including discussion about:
• • barriers arising at a federal level through the Foreign Investment Review Board (FIRB)
  • barriers introduced at state level, through additional surcharges on foreign property investment which has occurred most recently in NSW (read our previous update on this development here)
  • the proposed merger of the Singapore Stock Exchange and Australian Stock Exchange, which was rejected on public policy grounds.

This article is intended to provide commentary and general information. It should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this article. Authors listed may not be admitted in all states and territories