Eligibility

Below are the requirements you must meet to be eligible for a Investor retirement visa.

Age

You must be 55 years of age or older. Your partner (if any) can be any age.

Sponsor

You must be sponsored by an Australian state or territory government agency (other than the Australian Capital Territory).

Family

You must have no dependent children or other dependent family members other than a partner.

If you are married or in a de facto relationship, your partner must have no dependent children or other dependent family members.

Assets

You must have assets valued at least AUD750,000. These assets will enable you (or you and your partner) 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 partner)
• capable of and available for, transfer to Australia

Exception: If you intend to live in regional Australia you must have assets valued at least AUD500,000.
See: Regional Australia/Low Population Growth Metropolitan Areas

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. The assets are in addition to the funds required to make the designated investment.

Income

You (or you and your partner combined) must have access to a minimum net income of AUD65,000 (for example, pension rights).

Exception: If you intend to live in regional Australia you must have access to a minimum income of AUD50,000.

Designated Investment

You must be able to make a designated investment of AUD750,000 in your name (or your name and your partner'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 AUD500,000.

Note: The funds used to make the designated investment are in addition to the assets requirement.

Health insurance

You must have evidence that you, and your partner (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.

It is preferable that the health insurance be with an Australian insurer, however alternative arrangements that meet the above requirements can be accepted. Alternative arrangements with an overseas insurer will require individual detailed examination of the insurance policy and may result in processing delays.

If you do not maintain adequate health insurance it may result in the refusal of future visa applications.

Working in Australia

You must have no intention of working full-time in Australia (you, and your partner if applicable, will only be allowed to work up to 20 hours per week while in Australia.)

Health examination

You and your family 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.
See: Information form 1163i Health requirement for temporary entry to Australia (69KB PDF file)

Character

You and your family must be of good character for you to enter Australia.
See: Character Requirement

Applying for a further Investor Retirement visa

You may apply for one or more further Investor Retirement visas if you meet the following requirements.

• You hold or have held an Investor Retirement visa.
• You must be sponsored by an Australian state or territory government agency other than the ACT.
• You or your partner must have no dependent children or other dependent family members other than a partner.
• You need to have a minimum net income stream (for example, a pension) that can be accessed for yourself or yourself and your partner. If you live in a metropolitan area the minimum is AUD65,000 or if you live in a regional area, the minimum is AUD50,000.
• You are able to make or maintain a designated investment in your name or your name and your partner's name, in the state or territory in which you have been sponsored. If you live in a regional area you need to invest a minimum of AUD250,000, and if you live in a metropolitan area you need to invest a minimum of AUD500,000.
• You have evidence that you and your partner, if applicable, have held and continue to hold adequate health insurance.
• You and your partner, if applicable, will only be able to work up to 20 hours per week while in Australia.
• You and your partner are of good health and character.
• You have maintained the Designated Investment associated with your previous Investor Retirement visa for the period of that investment.

Australian Values Statement

If you are aged 18 years or over, you must declare that you will respect Australian values and obey the laws of Australia. For this visa, the values statement is included in the general declaration section of the application form. When you sign the application form it means you will also be signing the values statement. You will not be required to have read the Life in Australia book, but may do so if you wish.

You are also encouraged to gain an understanding of Australia, its people and their way of life, before applying for this visa.
See: Australian Values - Overview