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Retirement Visa - Investor Wish to spend your Retirement in Australia? |
In order to apply for this visa the main applicant must:
- Make a designated financial investment in Australia.
- Demonstrate minimum earnings ability from pensions and/or investments.
- Be over 55 years of age when application is lodged.
- Gain state sponsorship from a participating Australian state or territory.
- Have no dependents other than their spouse or common law partner.
- Give an undertaking not to work for more than 20 hours per week.
- Take out and maintain the necessary level of private health cover.
- Show that they have sufficient funds available to settle and set up in Australia (this is in addition to the designated investment).
The applicant and spouse will have to make a designated investment in the state or territory that provides sponsorship to the application. There are two options available when making the designated investment. The option taken will depend on whether the applicants wish to live in a major capital city (with the exception of Adelaide and Hobart) or if they choose to live in a more regional area. Taking the option to settle in a regional area of Australia requires a lesser designated investment and lower income. The financial requirements for each option are:
- Designated investment of A$750,000.00 and
- Demonstrate annual income of A$65,000.00
For those who elect to settle in a regional area:
- Designated investment of A$500,000.00 and
- Demonstration of annual income of A$50,000.00
The visa is valid for 4 years and is renewable with a lesser designated investment of A$250,000.00 for each subsequent renewal. For further information on other Australian Family Class visas, click on a link below:
