Subclass 405 Investor Retirement
This visa is intended for self-funded retirees who wish to live in Australia during their retirement years.
It is a temporary 4 year visa which does not lead to permanent residence or citizenship, If a holder of a 405 visa wishes to stay in Australlia for a further 4 years after the initial visa period, he or she will have to lodge a further application to be granted a subsequent 405 visa.
405 Visa requirements:-
- You are 55 years or older
- You have no dependents, other than your spouse
- You are able to make a Designated Investment of A$750,000 for a 4 year period OR an investment of A$500,000 if you intend to reside in a regional area
- You are able to transfer an additional amount of A$750,000 for your settlement costs in OR an additional amount of A$500,000 if you intend to reside in a regional area
- Your assets have been held for at least 2 years prior to your application
- You have an annual net income stream of A$65,000 OR A$50,000 if you intend to reside in a regional area and
- You and your spouse (if applicable) will hold private health insurance for the period of your intended stay
To be eligible for a further 405 visa, you must continue to meet the above criteria, with the following exception:
- You are able to continue with a Designated Investment of A$500,000 for a 4 year period OR an investment of A$250,000 if you intend to reside in a regional area
The Designated Investment amount you will need to pay is determined by the postcode of your intended residence in Australia. DIAC has a list of postcodes which are defined as regional. If your intended postcode falls within the confines of the list, then you will pay the lower figures relevant to regional area. If your postcode is outside the codes listed, your intended postcode is deemed as metropolitan area, in which case your the higher figures will apply to you. The DIAC regional post codes can be found here.
The following Provisional (temporary) Visas do not require state sponsorship and have a cut-off age of 45 years. These visas also have a higher financial thresholder requirements than the sponsored business visas.
