Investor Retirement Visa (405)

This visa is designed for self-funded retirees who have no dependants 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. This visa is for people from overseas who are 55 years or older, have no dependants (other than a spouse who can be of any age), are self supported, and are able to make a significant long term financial investment in Australia.

The visa allows you to stay in Australia for four years.  There is an option to apply for further Investor retirement visas which will allow you to stay for a further four years; however you will need to meet the requirements to be granted a subsequent visa. As long as you continue to satisfy the visa requirements you can keep applying for subsequent Investor Retirement visas.

Below are the requirements you must meet to be eligible for an Investor retirement visa:

• You must be 55 years of age or older. Your spouse (if any) can be of any age.
• You must be sponsored by an Australian State or Territory government agency (other than New South Wales or Australian Capital Territory).
• You must have no dependent children or other dependent family members other than a spouse.  If you are married or in a de facto relationship, your partner must have no dependent children or other dependent family members.
• You must have assets valued at least A$750,000. These assets will enable you (or you and your spouse) to meet initial settlement and ongoing costs of living in Australia.  The assets must be legally owned and lawfully acquired by you (or you and your spouse) capable of and available for, transfer to Australia.  
• Exception: If you intend to live in regional Australia you must have assets valued at least A$500,000.
  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.
• You (or you and your spouse combined) must have access to a minimum net income of A$65,000 (for example, pension rights).
  Exception: If you intend to live in regional Australia you must have access to a minimum income of A$50,000.
• You must be able to make a designated investment of A$750,000 in your name (or your name and your spouse's name), in the State or Territory in which you have been sponsored.
  Exception: If you intend to live in regional Australia you must make a designated investment of A$500,000.
• You must have evidence that you, and your spouse (if any), hold an adequate health insurance package for the period of your intended stay in Australia.  For health insurance to be considered adequate, it must be fully comprehensive or provide coverage that is at least equivalent to Medicare (including coverage of 85 per cent of costs for hospital, emergency, and general practitioner services) and provide coverage for pharmaceuticals.   If you do not maintain adequate health insurance it may result in the refusal of future visa applications.
• You must 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.)
• You and your spouse must meet health requirements for you to enter Australia. You will require an examination from a doctor, and possibly a chest x-ray and further medical tests.
• You and your spouse must be of good character for you to enter Australia.