QLD FORM 25 - FOREIGN OWNERSHIP

[Sonia77]

I have a foreign Buyer and will be required to lodge a Form 25 Foreign Ownership with the Transfer instrument as per DNRME requirements.

Does PEXA have a Form 25 that can be prepared along with the Transfer ?

Or does it mean the transaction does not qualify ?

[tamaragrant]

Hi Sonia, 

A purchase settlement with a Foreign Buyer is definitely within scope to be a PEXA Transaction. 

When you create your client as a Participant in the Workspace, there is a question which asks you whether or not they are a Foreign Person, you will need to click 'Yes' and then provide your client's country of origin. 

Once you have done this, when you create the Transfer, the Workspace will automatically create your Form 25 as a part of the Transfer documents. 

You can then 'View' the document as you would any other within the Workspace, and it will lodge with the Transfer at the time of Settlement. 

Let me know if I can be of any further help!

Tamara