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 40 hours per fortnight
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 the 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.
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