Foreign interests require Foreign Investment Review Board (FIRB) approval for the acquisition of an interest in an urban land corporation or trust. Corporations or trust will usually be deemed to be an urban land corporation or trust if they hold more than 50 per cent of their assets in urban land (vacant or developed). Applications for approval are considered on a case by case basis based on the nature of the real estate interests being acquired under both the Urban Land Policy Guidelines and the policy regarding an Acquisition of Shares in an Australian business.