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Retirement Visas

Investor Retirement Visa Subclass 405

This visa is designed for self-funded retirees who have no dependants and who want to reside in Australia during their retirement years. The visa is temporary and will not lead to Australian permanent residence or citizenship.

If you are granted this visa you can:

• work in Australia up to 20 hours per week
• have multiple travel entry
• live in Australia for four years
• have your partner accompany you to Australia.

The requirements you must meet to be eligible for this visa are:

Age: You must be 55 years of age or older. Your partner (if any) can be any age.

Sponsor: You must be sponsored by an AustralianState or Territory government agency (other than New South Wales or Australian Capital Territory).

Family: You must have no dependent children or other dependent family members other than a partner. If you are married, or in a de facto relationship, your partner must have no dependent children or other dependent family members.

Assets: You must have assets valued at least AUD750,000. These assets will enable you (or you and your partner) to meet initial settlement and ongoing costs of living in Australia.

The assets must be:

• legally owned and lawfully acquired by you (or you and your spouse), and
• capable of and available for, transfer to Australia.

If you intend to live in regional Australia you must have assets valued at least AUD500,000.

You must have held all of the assets listed above for 2 years prior to you lodging your application, unless the assets are related to superannuation and/or inheritance. If you are intending to sell assets to enable transfer of funds to Australia, then please note that they should not be sold until you are advised to do so by your immigration case officer.

Income: You (or you and your partner combined) must have access to a minimum net income of AUD65,000 (for example, pension rights).

If you intend to live in regional Australia you must have access to a minimum income of AUD50,000.

Designated Investment: You must be able to make a designated investment of AUD750,000 in your name (or your and your partner’s name) in the state or territory in which you are being sponsored. If you intend to live in regional Australia, the investment amount need only be AUD500,000.

Retirement Visa Subclass 410

This visa is not available to new applicants other than:

• existing Retirement visa (subclass 410) holders and their partner to rollover their current visa
• former Retirement visa (subclass 410) holders and their partner who have not held another substantive visa since their Retirement visa ceased
• newly married partners of current Subclass 410 visa holders

If you are granted this visa, during its validity you can:

• leave and re-enter Australia at any time
• work full time while in Australia
• undertake study in Australia.

This visa is a temporary residency visa. It does not lead to permanent residency in Australia or to Australian citizenship for retirees. The renewal of this visa is now granted for 10 years instead of 4 years.