Australia - Retiree Migration

Background information

An Investor Retirement visa is a temporary entry visa only. It does not lead to permanent residence in Australia or to Australian citizenship.

If you are considering applying for an Investor Retirement visa, the principal applicant must be 55 years or older, have no dependants (other than a spouse), and be able to be self-supporting in Australia without cost to Australia's social and welfare services systems.

The Investor Retirement visa does not provide any entitlement to coverage by Medicare (Australia's national health cover) or to Australian social security benefits. Applicant will be required to hold private medical coverage for the duration of their visa.

A State or Territory government agency must sponsor a person for the Investor Retirement visa, and an investment must be made with the sponsoring State or Territory government treasury corporation.

Please note: New South Wales (NSW) does not provide sponsorship for Investor Retirees and the Australian Capital Territory (ACT) Treasury is currently unable to arrange the required Designated Investments.

Information provided by applicants regarding their intended place of residence in Australia will determine the amount required by them for settlement, annual income and designated investment to meet the financial requirement for the grant of an Investor Retirement visa.

If your application is approved, you will be given a visa that will allow multiple travel in and out of Australia initially for 4 years. Before your visa expires, you may apply to remain for further stay of 4 years, however, you will need to satisfy particular criteria for this further visa. There is no maximum period for which you can remain in Australia as the holder of consecutive Investor Retirement visas.

Investor retirement visa holders are subject to the 8104 'limited work rights' condition and will be valid until the expiry of your current visa allowing you to work for up to 20 hours per week.

There are no concessions if you have any family or children in Australia.

Regional Australia/low population growth residential areas

Applicants applying for Investor Retirement visa (subclass 405 - Temporary) may wish to consider living in regional Australia or a low population growth metropolitan area when nominating their intended residence as these attract a lower level of annual income, designated investment and settlement funds required from applicants. As NSW does not provide sponsorship for Investor Retirees, regional Australia for the purposes of this visa is anywhere in Australia except NSW Central Coast, Brisbane, the Gold Coast, Perth, Melbourne or the ACT. See: Regional Australia/low Population Growth Metropolitan Areas

Regional Australia/Low Population Growth Metropolitan Areas

This page lists the areas — including postcodes — for 'regional Australia' or a 'low population growth metropolitan area'.

Eligible postcodes

Who can apply

If you have ever held an Investor Retirement visa, you may apply for subsequent Investor Retirement visas if you:

• are 55 years of age or older
• are sponsored by an Australian State or Territory government agency other than NSW
• have no dependent children or other dependent family members other than a spouse
• are married or in a de facto relationship, your partner must have no dependent children or other dependent family members
• have minimum assets legally owned and lawfully acquired by yourself, or yourself and your spouse, capable of and available for transfer to Australia, the amount depending on whether you intend to live in a regional or non-regional area of Australia. These assets will enable yourself, or yourself and your spouse to meet initial settlement and ongoing costs of living in Australia
• have a minimum net income stream (for example, pension rights) that can be accessed for yourself or yourself and your spouse, the amount depending on whether you intend to live in a regional or non-regional area of Australia
• are able to make a designated investment in your name or your name and your spouse’s name, in the State or Territory in which you have been sponsored, the amount depending on whether you intend to live in a regional or non-regional area of Australia
• Note: You must have held all of the assets listed above for 2 years prior to you lodging your application, unless the assets are related to superannuation and/or inheritance. If you are intending to sell assets to enable transfer of funds to Australia, then please note that they should not be sold until you are advised to do so by your immigration case officer.
• have evidence that you, and your spouse if applicable, hold an adequate health insurance package for the period of the your intended stay in Australia
• have no intention of working full-time in Australia (you, and your spouse if applicable, will only be allowed to work up to 20 hours per week while in Australia)
• are of good health and character.