FIRB's digital transformation: New consolidated Foreign Investment Portal
On 28 May 2025, Treasury launched its overhauled and interactive Foreign Investment Portal which is the new centralised platform for lodging foreign investment applications in Australia.
This marks the completion of FIRB's digital transformation, with the Foreign Investment Portal consolidating FIRB's entire assessment process into a single platform. The platform allows foreign investors and their representatives to:
- lodge foreign investment applications and pay the relevant filing fee;
- communicate with FIRB and respond to requests for information; and
- submit foreign investment compliance reports.
The new Foreign Investment Portal is significantly more sophisticated than the previous online lodgement system.
The platform is:
- Designed to streamline the application and review process. Investors are required to provide all relevant investor, target and transaction details at the time of lodgement. By front-loading this information, investors can expect to receive fewer requests for further information following lodgement of their applications.
- Adaptive and guides users to submit foreign investment applications through a dynamic and responsive form. Following a sequenced online process, investors are questioned and prompted to provide details which are tailored to the particulars of each application.
How the new Portal differs from the previous lodgement system
The Foreign Investment Portal modernises and streamlines the submission and compliance process for foreign investors.
Key changes include:
- Secure log-in process via myID: To access the Foreign Investment Portal, an individual must log-in to the platform using myID. myID is the Australian Government's digital identity application which allows individuals to access online government services.
- Investor profiles: Investors can create a profile for their entity directly within the Foreign Investment Profile. Following creation, the investor profile is saved and automatically populates other forms within the platform. This includes sharing details between foreign investment applications and compliance reports.
- Centralised communication system: The Foreign Investment Portal replaces the previous email-based system of communication with FIRB. Investors now engage with FIRB using an integrated, in-platform communication channel. Investors are no longer provided with details of the Treasury case officer or case team responsible for assessing the investment proposal.
- Application format: Investors can no longer submit application cover letters. The Foreign Investment Portal requires investors to respond to questions and prompts within the dynamic online form with limited opportunity to submit attachments. An application cannot be lodged until all required information has been provided by the investor.
- Consolidated compliance reporting: Foreign investor compliance reports, including annual officer reports, acquisition reporting and condition compliance reports, must be uploaded through the Foreign Investment Portal. Submissions made by email are no longer accepted.
FIRB update following the 2025 Federal election result
Following the Federal election on 3 May 2025, and the re-election of the Labour government, Treasury's caretaker period has now ended.
With the re-election of the Labour government, a new Assistant Treasurer, Daniel Mulino, has been appointed. Mr Mulino replaces outgoing Assistant Treasurer Stephen Jones. The Assistant Treasurer is a decision-maker for certain foreign investment proposals.
During the caretaker period, decisions on more complex and sensitive investment proposals may have been deferred until after the election. With the end of the caretaker period, and appointment of a new Assistant Treasurer, these applications are now beginning to be processed within the usual timeframes via the new Foreign Investment Portal.
With FIRB’s digital transformation now complete, all foreign investment applications and compliance reporting must now be managed through the new Foreign Investment Portal. Foreign investors and their representatives will need to familiarise themselves with the new platform.
Our national FIRB team remains dedicated to supporting clients through every step of FIRB's digital transportation. Whether it's navigating the new platform, adapting to updated compliance reporting requirements or streamlining application submissions, our team is here to provide clear guidance to ensure a smooth transition.
For further information or assistance with utilising the new Foreign Investment Portal, or understanding Australia's FDI regime more generally, please contact MinterEllison's team of FIRB specialists.
