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Retirement Visa

Investor Retirement Visa (Subclass 405)

This is not a permanent visa, it allows the holder to travel freely in and out of Australia for up to four years and work up to 40 hours per fortnight. The visa can be renewed for a further two years thereafter. This visa is available to applicants over the age of 55 in certain circumstances where the Applicant can prove assets in excess of AUD 500,000. If you intend to live in regional Australia you and your partners combined assets should value a minimum of AUD 250,000. The Applicant must also meet certain character and health requirements.

Health Care

Prior to the issuing of a retirement visa, the Applicant must prove that he/she has made arrangements regarding health insurance in Australia with comprehensive cover at least equivalent to Medicare.

Income

You and your partner (if applicable) need to prove that you will have access to a net income of AUD 65,000 per year for each year of your stay in Australia. If you intend to live in regional Australia you and your partners the requited net income is AUD 50,000 per year.

Investment

You and your partner (if applicable) must make an investment of at least AUD 500,000 in the state or territory in which you have been sponsored. If you intend to live in regional Australia you need to make an investment of at least AUD 250,000.

 

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