These emails are designed for those investing into Australia and those who have plans to do so. We aim to keep the points short and sweet, and to merely list snippets of relevant but easy to read information.
- The Australia-UK Free Trade Agreement (FTA) came into force on 31 May 2023.
- The FTA itself comprises more than 2,000 pages.
- It includes changes to visa rules increasing the ability of nationals of each country to work in the other.
- Provisions are made for the services sector in each country to more easily access the other country’s market (in addition to provisions governing the sale of goods).
- The details of many aspects are to be worked out by committees.
- Many specific provisions of the FTA will only have effect once legislation is passed covering those specific provisions.
- Australia’s first FTA was with New Zealand and entered into force in 1983.
- Australia has actively negotiated FTAs with individual countries and with trading blocks ever since.
- Until Brexit was ‘done’, the UK has not had to negotiate FTAs since the 1960’s.
- Nationals can apply for a Working Holiday Maker (Australia) and a Youth Mobility Visa (UK) up to the age of 35 – and ultimately stay in the other country under that visa for up to three years.
This message is not given in the form of an opinion, legal opinion or tax advice. If any of the information provided is of interest or relevance to you or your company we would strongly recommend you contact us or another qualified professional for specific advice.