The Australian Investor Retirement visa is a temporary visa that allows self-funded retirees to invest and spend up to four (4) years in Australia.
Australian Retirement Visa Basic Requirements
In order to qualify for an Australian Investor Retirement visa, applicants must be over 55 years of age and have no dependents other than a spouse. Applicants must be self-supporting and be willing to make a significant long-term financial investment in Australia.
Applicants require sponsorship from a participating State or Territory government and will be required to make a designated investment in that sponsoring State or Territory. The investment amount varies depending on where the applicant settles and a reduced investment is available to applicants who settle in a regional area of Australia.
All Australian visa applicants must satisfy health and character requirements.
Australian Retirement Visa Entitlements
Applicants who are granted an Investor Retirement visa will become temporary residents of Australia for up to four (4) years. The Australian Investor Retirement visa is not an avenue to permanent residence or citizenship in Australia. Investor Retirement visa holders who continue to satisfy the visa requirements are entitled to apply for subsequent Investor Retirement visas.
Successful applicants are entitled to work up to twenty (20) hours per week and are required to pay taxes on any income earned. Temporary residents cannot access social welfare benefits or government subsidised health care (Medicare) and are required to obtain adequate health insurance cover for the duration of their stay in Australia. Citizens of countries with which Australia has Reciprocal Health Care Agreements (RHCA) are entitled to emergency medical cover in Australia.
RHCA countries include Finland, Italy, Malta, the Netherlands, Sweden and the United Kingdom.