Investor Retirement Visa

To be eligible for an Investor Retirement visa, you must:

• be over 55 years of age

• be sponsored by an Australian State or Territory* government agency

• have no dependent family members (other than a spouse)

• have sufficient assets to enable you to be financially self-sufficient in Australia, without relying on the public healthcare system or social security benefits

• agree to take out comprehensive health insurance with an Australian company to cover any medical costs

The level of funds required is determined by where you intend to settle. Government is providing incentives to encourage people to settle in regional/low growth areas.

You must also satisfy the health and character requirements for an extended stay in Australia.

This visa entitles you to

• live in Australia, initially for four years. After this period, you can apply for a further stay of up to four years, but you must satisfy the criteria.

• As a retirement visa holder, you will be able to undertake paid work for up to 20 hours per week. Generally, you can work for any employer in any occupation. However, employment in the Australian Public Service or Defence Force is restricted to Australian citizens.

• You may be able to purchase a home or property in Australia, after gaining approval from the Foreign Investment Review Board (FIRB).

• As a temporary visa holder, you will not be entitled to public healthcare or social security benefits, nor will you be able to vote in elections.