Find out how and what an exemption certificate for an apartment developer allows, and how to get one.
If you are an apartment developer, you can get an exemption certificate that allows an overseas person to buy an apartment as an investment without consent, before construction is complete. An exemption certificate allows overseas persons to buy up to 60% of the units in a building without first obtaining consent under the Act, on the condition that the overseas persons may not occupy the apartment they buy.
If you are completing a large apartment development, you can apply for an exemption certificate if:
- the development has one or more multi-story buildings, and
- each building contains more than 20 residential dwellings.
The application fee for an exemption certificate is $27,600.
Find information and resources to help you apply for an exemption certificate for a large residential development online. We recommend you seek expert legal advice as early as possible.