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Do I still have to build on vacant land I acquired with foreign investment approval now that my visa status has changed and I have become an Australian permanent resident?

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Do I still have to build on vacant land I acquired with foreign investment approval now that my visa status has changed and I have become an Australian permanent resident?

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Yes. Your obligation to improve the vacant land to a value of at least 50% of the purchase price of the land or market value does not change. If you are having problems meeting this requirement you should contact FIRB.

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