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Retirement

Time Processing Time in South Africa: 3 Months
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Government Fee for Visa: AUD$325 for the main applicant and AUD$165 for dependents over 18 years.

Applying for an Investor Retirement Visa (405) - Temporary

This is a temporary visa for self funded retirees that have no dependents other than a spouse/life partner who want to live in Australia during their retirement years.

This visa is for you if you:

- If you are 55 years or older
- If you have no dependents other than a spouse/life partner
- If you and/or your partner have access to a minimum net income of AUD$65 000 per annum (AUD$50 000 if going to live in Regional Australia).
- If you are able to make a significant long term investment in Australia
- If you meet the sponsorship requirements
- If you and/or your partner meet the assets requirements
- If you have adequate Health Cover

You can be either inside or outside of Australia when applying for this visa. If you are in Australia when applying for the visa, you must be in Australia when the visa is approved. If you are outside Australia when applying for the visa, you must be out of Australia when the visa is approved.

This visa lets you:

- Work in Australia for 20 hours per week (40 hours per fortnight)
- You to travel to and from Australia for 4 years from the date that the visa is approved. You are able to apply for a further visa if required
- Your spouse/life partner to accompany you and live in Australia

This visa does not lead to Australian Permanent Residency. It remains a temporary visa.


Who can by my Sponsor?

Only an Australian State or Territory Government Agency is able to provide you with sponsorship for this visa. This sponsorship needs to be applied for and approved by the relevant State or Territory before you are able to lodge your visa application with the Department of Immigration and Border Protection.

What are the Asset Requirements?

You and/or your spouse/life partner must have assets to the value of at least AUD$750 000 when applying for this visa. These assets must be legally and lawfully acquired and owned by you and/or your spouse/life partner. These assets must also be capable of and available for the transfer to Australia.

All of the assets listed on the application must be held by you and/or your spouse/life partner for 2 years prior to lodgement of the application, unless they are related to a pension, superannuation and/or inheritance. If you intend on selling your assets in order to facilitate your move to Australia it is recommended that you wait until your visa is approved before doing so. If you are needing to sell assets in order to meet the visa requirements you must make sure that you will be able to finance your ongoing stay in Australia as these assets are in addition to the funds required to make the designated investment.

The asset requirements only need to be met at the lodgement stage of your first application and you will not have to meet this with a further visa application.

What is the Minimum Income Requirement?

You and/or your partner must show that you have access to a minimum net income of AUD$65 000 per annum. If you and/or your spouse/life partner will be living in Regional Australia you must be able to provide evidence that you have access to a minimum net income of AUD$50 000 per annum.

The income test needs to be met with every Investor Retirement visa application that is lodged.

What is the Designated Investment Requirement?

You and/or your partner must make a designated investment of at least AUD$750 000 in your/their name in a the State or Territory from which you have received your sponsorship. These funds are in addition to asset requirements.

If you and/or your spouse/life partner will be living in Regional Australia then you are only required to make a designated investment of AUD$500 000.

This investment must be maintained for the duration of the validity of your Investor Retirement visa Subclass 405. This amount decreases by AUD$250 000 the first time you lodge a subsequent visa and then remains constant thereafter. This means that if you reapply for this visa you must make a designated investment of AUD$500 000 and this must be maintained for the validity for the second visa. If you reapply to live in Regional Australia you are required to make a designated investment of AUD$250 000 and this must be maintained for the duration of your visa.

The Main Requirements are:

1 x Valid Passport
1 x Academic qualifications
1 x Evidence of work experience for each period of employment
1 x Birth Certificate
1 x Evidence of English Language ability
1 x A clear criminal record (Certain cases can be discussed on a case by case basis, should there be an issue).
1 x A clean bill of health (Certain cases can be discussed on a case by case basis, should there be an issue)

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