Australia Investor Retirement
The Investor Retirement Visa category is designed for retired people who have significant assets and who want to spend some of their retirement years in Australia.
Applicants for the Investor Retirement Visa must be financially self-sufficient so that their existence in Australia will be at no cost to the Australian taxpayer. Holders of the Investor Retirement Visa do not have access to any social welfare services in Australia and must have Private Health Insurance for the duration of their stay in Australia. Investor Retirement Visa holders are entitled to work in Australia for up to 20 hours per week.
Duration
Migrating to Australia via the Investor Retirement Visa provides the successful applicant with a temporary visa which is valid for four years. The Investor Retirement Visa does not lead to permanent residency in Australia (or to Australian citizenship), however an Investor Retirement Visa holder may apply for subsequent four year periods after the expiry of the current visa.
Eligibility Criteria
To be eligible for the new Investor Retirement visa, the main applicant must:
- Have State or Territory government sponsorship (please note that New South Wales and the Australian Capital Territory are not participating in the sponsorship of Investor Retirement Visa applicants);
- Make an investment in a government treasury bond in that State or Territory;
- Have sufficient assets to ensure they can support themselves in Australia, and;
- Maintain private health insurance for the duration of their visa.
Age
The main applicant wanting to migrate to Australia under the Investor Retirement Visa must be at least 55 years of age. There is no age restriction on the spouse of the main applicant.
Relationship
Investor Retirement Visa applicants must have no dependents (other than a spouse).
Financial Requirements
Migration to Australia under the Investor Retirement Visa requires applicants to be sponsored by a State/Territory government in Australia. The Investor Retirement Visa provides incentives to encourage people to settle in regional/low growth areas in those States and Territories that offer sponsorship. If the Investor Retirement Visa applicant intends to live in a regional area of Australia they must have at least:
- AUD$500,000 assets available for transfer to Australia AND;
- AUD$50,000 net annual income from investment or pension rights.
Furthermore the applicant must invest $AUD500,000 in State/Territory government bonds if they intend to live in a regional area.
If the Investor Retirement Visa intends to live in a non-regional area of Australia they must have at least:
- AUD$750,000 assets available for transfer to Australia AND;
- AUD$65,000 net annual income from investment or pension rights.
Furthermore the applicant must invest AUD$750,000 in State/Territory government bonds if they intend to live in a non-regional area.
Please note that Investor Retirement Visa applicants must have held all of the assets for two years before applying, unless the assets relate to inheritance, superannuation, or pension rights.
Health & Character
Australia has strict health and character requirements that must be met before someones Australian visas will be granted. People attempting to migrate to Australia on the Australian Investor Retirement Visa will be required to:
- Undergo a medical examination and chest X-ray undertaken by one of a panel of doctors selected by the Australian authorities, and;
- Obtain police certificates for all countries in which they have lived for more than 12 months in the 10 years leading up to the application.
Processing Times
The current processing time for migration to Australia under the Australia Investor Retirement Visa is four to six months from the start of the process. A Global Visas consultant will be able to advise you of the latest processing times.
Additional Information:
Please note that the qualifying criteria for subsequent applications are easier than those required at the initial stage and while this is a temporary visa, it is possible for retirees to spend the rest of their lives in Australia under this visa category.
