The short version
If you are on a student or skilled visa in Australia and funding the purchase from India under LRS, you are a foreign person: approval is needed and only a new dwelling or vacant land qualifies. The LRS limit applies per Indian financial year (April to March), which matters if you are paying deposits and settlement either side of 31 March.
Are Indian citizens foreign persons in Australia?
Yes. Indian citizens are foreign persons unless they hold Australian citizenship or a permanent visa.
Moving money to Australia
Under the Reserve Bank’s Liberalised Remittance Scheme every resident individual may remit up to US$250,000 per Indian financial year (April to March) for permitted purposes, and buying property abroad is one of them. Remittances by relatives can be consolidated for a single property, so a couple can move about US$500,000 a year. Indian tax rules on outward remittances, including tax collected at source, change often, so confirm the current position with an Indian adviser before you transfer.
Tax treaty
Yes — a double tax agreement has been in force since 1991.
Home loans and INR income
Indian rupees are on the accepted-currency list of some Australian non-resident lenders, usually with the income discounted for currency risk.
Lender policy changes. See our home loans guide for how lenders generally treat overseas borrowers.
Visas
Student (500), Skills in Demand (482), 189/190 and partner visas, plus the MATES stream under the Temporary Work (403) visa for graduates of top-ranked Indian institutions. On a temporary visa you are a foreign person and the established-dwelling ban applies to you.
Next steps
- Check the application fee and your state’s surcharge.
- Read the FIRB approval guide.
- Look at new homes foreign buyers can purchase.
Need a loan from India?
We can introduce you to a licensed broker who works with overseas buyers. Free to you.
Frequently asked questions
Do I need FIRB approval to buy property in Australia from India?
Yes, unless you are an Australian citizen or permanent visa holder (or a New Zealand citizen with a Special Category visa, or buying as a joint tenant with such a spouse). Foreign persons need approval to buy a new home or vacant land, and cannot buy established homes until 30 June 2029.
Does Australia have a tax treaty with India?
Yes — a double tax agreement has been in force since 1991.
Sources
- Reserve Bank of India — Liberalised Remittance Scheme FAQ
- Treasury — Income tax treaties
- Home Affairs — MATES (Temporary Work 403)
- Treasury — Guidance Note 2: Key concepts (v5, 12 December 2025)
- ATO — Banning foreign purchases of established dwellings
- ATO — Tax rates for foreign residents
- Home Loan Experts — Foreign income home loans (broker page)
- Odin Mortgage — Australian expat home loans (broker page)
Checked 5 October 2026.
firbapproval.com.au is an independent guide. It is not affiliated with, endorsed by or connected to the Foreign Investment Review Board, the Australian Treasury or the Australian Taxation Office. We do not lodge or process applications. Applications are made to the ATO. General information only, not legal, tax, migration or financial advice.