Visa Services 
| Retirement |
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This visa is designed for self-funded retirees who have no dependents and who want to reside in Australia during their retirement years. The visa is temporary and will not lead to Australian permanent residence or citizenship. The initial Investment Retirement Visa is a temporary visa, valid for four years. It is possible to renew this visa for further terms of 4 years provided certain criteria are met. Basic Requirements: In order to qualify for the Investor Retirement Visa, applicants must be over 55 years of age and have no dependents (other than a spouse who can be any age). Applicants must be self-supporting and be willing and able to make a significant long-term financial investment in Australia. Applicants will require sponsorship from a participating state/territory government and will be required to make a designated investment in that sponsoring state/territory. You must also demonstrate a regular income sufficient to fund your on going costs of living in Australia. The actual investment amount will vary, depending on where you intend to settle. If you are willing to live in a regional area of Australia the required investment amount is less. You are also required to satisfy certain health and character requirements in order to meet the Visa criteria. You must also demonstrate that you and your spouse hold an adequate health insurance package for the period of your intended stay in Australia. Entitlements: Upon being granted an Investor Retirement Visa, you will become a temporary resident of Australia. During this period of temporary residence you will, in general, not have access to Medicare (government subsidised health care). However, citizens of countries that have a reciprocal heath care agreement (RHCA) with Australia are entitled to emergency health care in Australia. This care does not extend to pre existing medical conditions. RHCA countries include Finland, Italy, Malta, the Netherlands, Sweden and the United Kingdom. You (and your partner) are also permitted to work 20 hours per week and travel in and out of Australia as many times as you like provided your visa remains valid. Temporary residents in Australia are required to pay taxes on income earned, and they cannot access social welfare benefits. |
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| Last Updated ( Wednesday, 16 January 2008 ) |
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