The Treasury is releasing a new Foreign Investment Portal for FIRB applications. Once live, this portal will be used for:
submitting FIRB applications;
paying FIRB application fees;
communications with FIRB in relation to FIRB applications; and
submitting compliance reports (for conditions under no objection notifications).
Timeline
The portal will be released in two key phases:
Expected date | Event | Users will be able to: | |
24 February 2025 | Compliance launch |
| |
End of April 2025 | Full launch |
|
Practical implications
From 24 February 2025
We recommend allocating a staff member who will, log in to the new FIRB portal using their myID (formerly myGovID) and create an account for your organisation.
If you are required under a no objection notification or exemption certificate to submit compliance reports to FIRB, the email submission will be replaced by this new portal.
You will still need to prepare and sign your compliance report, which will be uploaded to the FIRB portal.
You should ensure relevant staff are aware they must use the FIRB portal for compliance reports going forward.
The new FIRB portal will also function as FIRB’s communications platform. If FIRB is seeking to communicate with you in relation to an approval and/or compliance report, they will start to do so through the new FIRB portal. FIRB will also provide email notifications if they have sent you a message on the portal. As such you should ensure appropriate staff are linked to your organisation’s account.
There will be significant changes to the way FIRB applications are prepared and lodged. We will provide a further update closer to the full launch in April.
myID
myID is a smartphone application that can be downloaded on the Apple Store or Google Play. It can be used by people outside of Australia.
myID is a two-factor authentication app for logging onto Australian government websites. To set up myID, you will need to enter your email address (choose a personal email you have ongoing access to), create a password and enter your full name and date of birth. A ‘basic strength’ account is generally sufficient for compliance reports, but you can upgrade the strength of your account by verifying it against your passport or other ID documents.