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Retirement Visa - Investor retirement visa

Australia immigration Retirement visa options

Australia's temporary residence program includes a category for those wanting to live in Australia in retirement.

Investor Retirement 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.

The Investor Retirement visa is being introduced following consultations with the State and Territory Governments. The visa provides incentives to encourage persons to settle in regional/low growth areas in those States and Territories that offer sponsorship.

In agreement with State and Territory governments, a two-tiered approach has been developed which will require applicants to nominate at time of sponsorship whether they intend to settle in a regional/low growth or a non-regional/non-low growth area. The definition of regional and low growth that will be used for the Investor Retirement visa will be the same as that used for the Skilled Regional Sponsored Visa (SRS). Their place of intended settlement will determine the level of funds required to satisfy the financial criterion. In line with the two-tier approach, reduced thresholds will apply for the required Designated Investment (DI), establishment costs and income stream for those intending to live in regional or low growth areas.

Each applicant must have no dependants other than a spouse

More specifically, the visa has the following characteristics:

  • for the first or initial visa application, main applicant would be 55 years or older (spouse could be under 55 years of age);
  • for the initial and all subsequent visa applications, payment of a second visa application charge of $8,700 per person per visa application to offset the possible cost of some applicants accessing aged care/nursing home services at a future time (not refundable, regardless of whether care is utilised during the life of the visa);
  • for the initial and all subsequent visa applications main applicant to be sponsored by a State/Territory Government with sponsorship being maintained for the entire period of the applicant's stay in Australia;
  • for the initial and all subsequent visa applications, main applicant to make a minimum designated investment (DI) (depending on whether they nominate a regional/low growth area or a non-regional/non-low growth area)in a State or Territory Treasury bond of:
    1. A$750,000 for the initial visa, if the main applicant has indicated to the State or Territory Government sponsor that they are going to live in a non-regional or non-low growth area;
      • A$500,000 for a second or further visa, if the main applicant has indicated to the State or Territory Government sponsor that they are going to live in a non-regional or non-low growth area;  
    2. A$500,000 for the initial visa, if the main applicant has indicated to the State or Territory Government sponsor that they are going to live in a regional or low growth area;
      1. A$250,000 for a second or further visa, if the main applicant has indicated to the State or Territory Government sponsor that they are going to live in a regional or low growth area;

In addition to the DI, and for grant of the initial visa only, main applicant to provide evidence of assets that can be used to establish a lifestyle in Australia, with those assets allowed to be combined with those of the spouse, of a minimum of:

  • A$750,000 if the main applicant has indicated to the State or Territory Government sponsor that they are going to live in a non-regional or non-low growth area; or
  • A$500,000 if the main applicant has indicated to the State or Territory Government sponsor that they are going to live in a regional or low growth area;

For the initial and all subsequent visa applications:

the main applicant to provide evidence of an annual income stream, with that income stream allowed to be combined with income stream of their spouse, of a minimum of;

  • $65,000 if the main applicant has indicated to the State or Territory Government sponsor that they will live in a non-regional or non-low growth area; or
  • $50,000 if the main applicant has indicated to the State or Territory Government sponsor that they will live in a regional or low growth area.

for the initial and all subsequent visa applications, each applicant

each applicant to have limited work rights of 20 hours per week, to allow visa holders to pursue activities such as volunteer work or investment management without breaching visa conditions;

each applicant to meet full migration health and character criteria for the first or initial visa only and to satisfy streamlined health and character for further visa applications;

Health insurance

You must have evidence that you and your partner hold an adequate health insurance package for the period of your intended stay in Australia.

For health insurance to be considered adequate, it must:

  • be fully comprehensive
  • provide coverage that is at least equivalent to Medicare (including coverage of 85 per cent of costs for hospital, emergency, and general practitioner services)
  • provide coverage for pharmaceuticals.

It is preferable that the policy is with an Australian insurer; however alternative arrangements that meet the above requirements can be accepted. Alternative arrangements, with an overseas insurer, will need individual detailed examination of the insurance policy and may result in processing delays.

You must be sponsored by an Australian state or territory government agency

- Department of Economic Development, Tourism and the Arts

In Australia:

If you apply for this visa in Australia, you could be eligible for a Bridging visa that allows you to stay in the country lawfully while your application is processed. If you are given a Bridging visa A, you can apply for a Bridging visa B (BVB) to travel outside Australia while you wait for a decision.

initial maximum period of stay would be 4 years, renewable if applicant continues to meet criteria, for an additional 4 years.

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