Australia’s new Register of Foreign Ownership of Australian Assets will take effect on 1 July 2023. Expanding on the previous registers for water interests and agricultural or residential land, the new Register records foreign interests in a broader range of Australian land, entities, businesses and assets, with significant potential penalties for non-compliance.
Leo Vellis is a partner in the Funds Transaction Group at Baker McKenzie, Sydney. Leo advises on domestic and cross-border investment funds, capital markets and M&A transactions. Prior to joining the Firm in 2010, Leo worked at another major law firm based in New York.