Retirement Visa Class - An Overview

Just because you may be over the age of 45 does not necessarily mean your chances of moving down under are lost for ever.

There are a number of Retirement Visa Classes available for those entering your golden years who still have a yearning to move down under.

Below we present the main options available to you:

INVESTOR RETIREMENT VISA (Temporary) - sub class 405

Who can apply: Anyone who is 55 years of age or over. If a couple, one partner only has to be 55

What it entitles you to:. Four years temporary residence in Australia with limited work rights of 20 hours per week. Further applications can be made.

Terms & Conditions: Applicants can have no Dependants other than a spouse and must have full private medical/hospital insurance at all times. State/territory government sponsorship is required and the following charges apply :

- A second visa charge of $8,000 per person

- Assets of $500,000 if settling in a regional area of Australia, or $750,000 if settling in a non-regional area, to establish themselves.

- Funds for investment in a treasury bond with the sponsoring state/territory government of $500,000 if settling in a regional area

or $750,000 if settling in a non-regional area.

- Net annual income stream from investments, pensions, etc. of $50,000 p.a. if settling in a regional area or $65,000 p.a. if settling in a non-regional area.

Subsequent visa applications will carry the same second application charge and annual income requirements but the amounts for investment in treasury bonds are $250,000 if settling in a regional area or $500,000 if settling in a non-regional area.

Further Information: Normal health and character checks are required on initial application and streamlined procedures on subsequent applications. Limited work rights will allow for voluntary work or investment management activities.

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