Investor Retirement Visa
The Investor Retirement visa is designed to attract self-funded retirees to spend their retirement years in Australia.
An Investor Retirement visa is a temporary visa, valid for four years and cannot lead to permanent residence. It is possible to apply for further Investor Retirement visas which could allow you to stay in Australia for a further four years.
AUSTRALIAN INVESTOR RETIREMENT VISA BASIC REQUIREMENTS
In order to qualify for an Investor Retirement visa, applicants must be over 55 years of age and have no dependents (other than a spouse). Applicants must be self-supporting and be willing to make a significant long-term financial investment in Australia.
Applicants will require sponsorship from a participating State or Territory government and will be required to make a designated investment in that sponsoring State or Territory. Depending on where you intend to settle, the actual investment amount may vary. If you are willing to live in a regional area of Australia, you can take advantage of the reduced investment amount.
You are also required to satisfy health and character requirements.
AUSTRALIAN INVESTOR RETIREMENT VISA ENTITLEMENTS
Upon being granted an Investor Retirement visa, you will become a temporary resident of Australia. You will be able to work up to 20 hours per week and travel freely in and out of Australia for four years.
Temporary residents are required to pay taxes on income earned and cannot access social welfare benefits or government subsidised health care (Medicare). As a condition of your Investor Retirement visa, you will be required to obtain adequate health insurance cover for the duration of your stay in Australia. Citizens of countries with which Australia has Reciprocal Health Care Agreements (RHCA) are entitled to emergency medical cover in Australia, but this coverage does not extend to pre-existing medical conditions.
RHCA countries include Finland, Italy, Malta, the Netherlands, Sweden and the United Kingdom.