The Australian Investor Retirement (temporary) visa is for foreigners who are self-funded retirees who want to reside in Australia after their retirement. It does not lead to Australian permanent residence or citizenship.
In order to apply for this visa, you must meet the following requirements:
- be 55 years or older;
- have no dependants (other than a partner of any age, who must have no dependent children or other dependent family members);
- demonstrate that you are self-sufficient;
- have assets which are legally owned and lawfully acquired by you, valued at A$750,000 (A$500,000 if in regional Australia) at least, and capable of transfer to Australia (you must have held all of these assets for 2 years prior to you lodging your application, unless the assets are related to superannuation and/or inheritance);
- you (or you and your partner combined) must have access to a minimum net income of A$65,000 (A$50,000 if in regional Australia);
- demonstrate that you are able to make a significant long-term financial investment in Australia;
- hold an adequate health insurance package for the period of your intended stay in Australia;
- you and your family must be of good character for you to enter Australia.
Once you are in a position to meet the requirements, the process for this visa has three steps:
1) Apply for sponsorship: you must be sponsored by an Australian state or territory government agency (all except the Australian Capital Territory);
2) Complete and lodge the application, including all the necessary documentation;
3) Make a designated investment in Australia.
Once you have been granted this visa you are able to:
- work in Australia for up to 40 hours per fortnight;
- travel in and out of Australia (multiple entry and exit applies) for the entire validity of your visa;
- live in Australia for 4 years;
- have your partner accompany you to Australia.
After the expiry of the initial 4 years, you do have the option to apply for a further 4 years in Australia on the same visa. Similarly, you will need to meet the above requirements. Furthermore, you are able to keep on applying for this visa forever, so long as you meet the above requirements.
Other Australian visa types:
Australian Skilled Migration Visas
Australian Business Visas
Australian Employer-sponsored Visas
Australian Investor Retirement Visa
Australian Student Visas
Australian Family and Spouse Visa
Australian Resident Return Visa
Australian Working Holiday Visa
Australian Travel Visa