This visa is for older people with no dependents (other than a spouse) who want to retire in Australia.
- You must be at least 55 years of age and have no dependents other than a spouse. Your spouse can be under 55 years of age.
- You must be sponsored by a State/Territory government in Australia.
- If you intend to live in a regional area of Australia, you must have at least:
- $500,000 assets available for transfer to Australia AND;
- $50,000 net annual income from investment or pension rights.
- If you intend to live in a non-regional area of Australia, you must have at least:
- $750,000 assets available for transfer to Australia AND;
- $65,000 net annual income from investment or pension rights.
You must have held all of the assets for 2 years before applying, unless the assets relate to inheritance, superannuation, or pension rights.
- You must invest in State/Territory government bonds:
- $500,000 if you intend to live in a regional area OR;
- $750,000 if you intend to live in a non-regional area.
- You must meet health, character, public interest and special return criteria.
How do I apply?
You can apply from either outside Australia or in Australia (providing you are in Australia as the holder of a substantive visa).
- This visa allows you to stay temporarily in Australia for 4 years.
- If you wish to stay longer, you can apply for a further Investor Retirement visa which is valid for another 4 years. You will need to satisfy certain health and financial criteria, and also lodge a further bond.
- You are not entitled to social security or welfare benefits while in Australia, and you will need to take out adequate health insurance to cover your stay in Australia.
- You will be entitled to work for up to 20 hours per week on your investor retirement visa.