More and more South Africans are planning their retirement overseas and among the favourite places is Australia of course.
Retirees are offering a number of reasons for their decision to retire overseas but the most popular reasons are to join friends, family, children and grandchildren already living there. Some are keen on a passport that enabled them to travel the world easily while others are concerned with their safety in South Arica and said a lack in confidence in the country’s future. Others still cited that they’d rather their money be in a country with a growing economy, stable peaceful government and where it likely to increase in value instead of the opposite.
Retiring overseas is becoming now more possible than ever. The immigration process is less complicated and not as expensive as it was a few years ago. Australia has in this past year created a special visa specifically for parents and grandparents wanting to join their children Down Under.
Retirees will typically exhaust the family ties immigration avenue before considering alternative plans such as investing in property or a business to gain eligibility to immigrate to a country. Using an immigration professional is vital as they will know what the retiree’s options and obligations are during the immigration process.
To give you a broad idea we have listed two immigration options for senior citizens to Australia below.
Investor Retirement Visa
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 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.
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.
Parent Migration Visa
This visa would allow you to live and work permanently in Australia if you have a child who is an Australian citizen, Australian Permanent Resident or eligible New Zealand Citizen who has settled in Australia. You must have a child that has been living lawfully in Australia for 2 years immediately before the application is lodged.
This visa is for you if you:
- have a child living in Australia for 2 years as a Citizen, Permanent Resident or eligible New Zealand Citizen
- able to meet the balance of family (BoF) test
- be of good health and character
- have a sponsor
You must be outside of Australia when applying for this visa. If you are in Australia and want to apply for this visa, you must hold a valid temporary visa that does not have any conditions placed on it exempting you from applying for further visas in Australia. When the visa is decided, you must be outside of Australia.