Since 1 July 2026, Australia’s expanded AML/CTF regime has applied to certain designated services provided by legal, conveyancing, real estate and other professional businesses. Foreign buyers of Australian property may be asked for more information about identity, ownership and funding, depending on the service and transaction.
This article explains the documents an international buyer may need to prepare for a Queensland property transaction. The exact checks depend on the designated service, the parties and the risk assessment.
Overview of the 2026 AML Law Reforms
The expanded regime can apply to designated services provided by:
- Real estate agents
- Solicitors and conveyancers
- Accountants and trust service providers
Businesses providing designated services may have customer due diligence, risk management, reporting and record-keeping obligations. The checks required for a buyer vary with the service and risk. See AUSTRAC’s reform guidance.
What This Means for Foreign Buyers
Foreign buyers may need to explain the purchasing entity, beneficial owners and the source of purchase funds. A contribution from another person is not automatically prohibited, but the parties, purpose and funding path may need to be understood and documented.
Documents that may help
Depending on the transaction, useful records may include:
- Identification and authority documents for the purchaser and relevant people acting on its behalf
- Bank or loan records explaining how the deposit and balance are funded
- Records explaining family gifts, company funding or third-party payments where relevant
Risky or Delayed Transactions
Buyers may face delays or complications in the following cases:
- Funds are sent from a third party without documentation
- The buyer cannot prove the relationship between themselves and the funder
- The remittance route lacks transparency or appears irregular
- No evidence is available to explain the origin of the purchase funds
In such cases, legal practitioners and banks may be unable to proceed with settlement, registration, or loan disbursement.
Practical preparation for current AML/CTF checks
A regulated service provider may ask for information such as:
- Identity and ownership details for the customer and relevant beneficial owners
- An explanation and supporting records for source of funds, and source of wealth where appropriate to risk
- Documents explaining third-party assistance, such as a gift letter, loan agreement or trust deed where relevant
- A clear record of how transaction funds will be transferred
Role of Property Lawyers Under the New Regime
Since 1 July 2026, businesses providing relevant designated services have had AML/CTF obligations. Depending on the service and circumstances, these can include:
- Conducting customer due diligence at the required time
- Monitoring the customer relationship and transactions as required
- Reporting suspicious matters to AUSTRAC where legally required
- Keeping records for the period required by law
Ask your lawyer what information is needed for your particular transaction and when it should be provided.
How to Prepare Now
If you are planning to invest in Australian property, we strongly recommend taking the following steps:
- Speak to your legal advisor early in the buying process
- Avoid using undisclosed intermediaries or unofficial remittance channels
- Begin collecting documentation that proves where your money comes from
- Where family or company funds are involved, prepare formal declarations and certified IDs in advance
Our Legal Support for Foreign Property Buyers
Ensure Legal has extensive experience assisting clients from Hong Kong, Singapore, Taiwan, and beyond with cross-border property purchases in Queensland and throughout Australia. We assist with:
- Drafting and reviewing sale contracts
- FIRB compliance and exemptions
- Foreign buyer legal due diligence
- Source of funds declarations and AML compliance
- Coordination with accountants, migration agents, and settlement agents
We can advise on Queensland property, FIRB and transaction requirements relevant to your proposed purchase.
For a closer look at evidence of funding, read our source of funds guide. For a proposed foreign investment, see our FIRB services.
Contact Us
To learn more or to discuss your property plans, contact our office for a confidential consultation.
