Retirement to Australia may be possible for you, what are the requirements?

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Want to enjoy your retirement years in Australia?

Australia’s high quality of life and an opportunity to enjoy retirement in a spacious, pollution-free environment that has an abundance of natural resources and widely diverse beauty hot spots have made Australia a popular retirement destination.

Retirement to Australia may be possible for you, what are the requirements?

In addition, Australia’s highly developed and sophisticated infrastructure, high-quality health and social care facilities, moderate winters and possessing some of the least expensive cities in the world that offers a low cost of living comparative to the quality of life have made Australia an increasingly popular destination for those retirees from abroad who seek warm, pleasant climates in a safe yet affordable environment.

For retirees who are 55 years of age and over, Australia’s Temporary Residence Program includes an Australian visa category for those wanting to live in Australia in retirement.

The Retirement Visa Program will enable retirees over 55 years of age who are able to support themselves financially to spend some of their retirement years in Australia. This Australia visa program provides retirees an opportunity to work part-time while enjoying a relaxed and rewarding lifestyle in Australia. See more information here http://www.nationalvisas.com.au/retirement/retirementvisas.htm

For new or first time applicants considering spending a period of their retirement in Australia, the recommended Australian visa application for you is the Investor Retirement (subclass 405) visa.

The Investor Retirement (Subclass 405) Visa is a type of temporary Australian visa that is designed for self-funded retirees aged 55 years or older who are able to make a significant long term financial investment in Australia. As this visa is temporary, it will only enable you to live in Australia for four (4) years and will not lead to Australian permanent residence or citizenship.

To qualify to apply for the Subclass 405 Retirement Visa, you must meet several eligibility requirements such as:

  • being 55 years of age or older though your partner (if any) can be of any age;
  • must be sponsored by an Australian State or Territory Government agency;
  • have no dependent children;
  • and meet health requirements.

You are also required to meet the financial requirements such as:

  • having assets available for transfer to Australia in excess of AU$750,000;
  • have access to a minimum net income of AU$65,000 per annum;
  • and must be able to make a designated investment of at least AU$750,000.

However, if you intend to settle in a Regional Area in Australia,

  • then you only have to have assets available for transfer to Australia in excess of AU$500,000;
  • an income of at least AU$50,000 per annum;
  • and make a designated investment of at least AU$500,000.

You are also required to show evidence that you, and your partner (if any), hold an adequate health insurance package for the period of your intended stay in Australia.

However, if you already or currently hold a Subclass 410 Retirement Visa and your partner, or if you are a former Subclass 410 Retirement Visa holder and your partner has not held another substantive visa since your last Retirement Visa was granted, then the right Australia visa type for you is the Retirement (Subclass 410) Visa.

To qualify for this visa, you must be a current Subclass 410 Retirement Visa holder and be able to financially support yourself. You must also show evidence that you maintained health insurance during your previous stay in Australia and have ongoing adequate health insurance.

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National Visas offers Personalised Services to help you apply for a visa. National Visas has developed into a world leader in online immigration services. Our Migration Agents are registered to provide Australian immigration advice, as required by Australian law.

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