Getting A Visa For Retirees

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For many retirees, being able to spend their last years in a good way is a must. And for those bent on immigration, Australia has become a popular destination in recent years. Indeed, there are many opportunities awaiting foreign retirees in the country.

And one of the best opportunities available for those finally leaving the corporate world is putting up a business in Australia. This can be done by applying for an Investor retirement visa, also known as the Subclass 405 visa. This visa allows you move in to Australia after retirement and set up a long term investment in the country. Note that this is different from a retirement visa in that the investor retirement visa allows the holder to work during his stay in the country.

To avail of the visa, the applicant must be at least 55 years old during the time of the application. He must also be able to support himself independently through sufficient funds. He must also be sponsored by the particular state that he wishes to live in.

In order to get sponsored by the state, you need to apply for it. The application form for state sponsorship for retirees is available at the Department of immigration and Citizenship’s website. The state representative will then return the form back to you upon approval. This you would then submit along with the rest of your application documents.

Note that you also need to make a designated investment in order to get your visa released. The Treasury Corporation of the particular state you are going to will provide you the details regarding the eligible investments that you can make, as well as the expected returns. Note that in order to make an investment, you need to have at least AU$ 750,000 worth of funds. For those planning to move in to regional Australia, you only need AU$ 500,000 as minimum funds. You also need to present evidence of a steady income of no less than AU$ 65,000 a year, coming from pensions and other sources.

The only relative that you can bring to Australia is your partner or spouse (of any age).also note that both of you must have no more dependents during the time that you apply for a visa. Your spouse also need to be self supporting. Also, you both need to get a comprehensive health insurance plan that covers everything.

Once you get your visa, you will be able to enter the country anytime you want and stay up to four years. You are also allowed to work for at the most 20 hours per week. You are also allowed to apply for subsequent investor retirement visas after its expiration, as long as you meet the requirements.

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