Eligability to buy prop in Aus

Hi I was just wondering what if any eligability you require to legally buy property in Australia. I ask becuase i was wondering if there are higher taxs that apply to investors from such countries as the middle east and asia.

Also what issues may you come accross if you enter into a business agreement with a international investor. Would buying property under a registerd company in australia be better off then buying and selling land from an overseas company in terms of the profit the company would make.

Cheers