Contact the treasury corporation, in the state or territory that is sponsoring you (other than the Australian Capital Territory). They will forward current information on the terms and conditions and an investment application form. They will also send detailed instructions on how to lodge the designated investment. At the initial inquiry stage, the treasury corporation can only indicate the likely rate of return on a proposed investment. The actual rate of return on your investment will be set when you deposit your funds in the designated investment. Interest rates change regularly and may differ between state and territory treasury corporations.

When your application has been processed and all requirements have been met, the Retirement Visas Processing Unit will ask you, and your partner, to complete relevant health and character checks.

To ensure the appropriate medical checks are undertaken, prospective applicants should not undergo medicals until advised by the Retirement Visas Processing Unit.

When your health and character checks have been finalised, the Retirement Visas Processing Unit will advise you in writing to lodge the designated investment with the treasury corporation in the state or territory that has sponsored you. The letter of advice will also include a form 1031 Declaration: Designated Investment, which will have been completed by the department. You should send this and your completed investment application to the treasury corporation in the state or territory that has sponsored you. Individual state and territory treasury corporations will provide advice on procedures to transfer your funds to the designated investment. Those funds must be in Australian dollars, and must be deposited in your name or your name and the name of your partner. Once the designated investment has been made, funds cannot be withdrawn before the 4-year term has expired, unless under exceptional circumstances approved by the Minister for Immigration and Citizenship. On receiving your funds, the stock issuing authority will send you a letter or certificate to acknowledge receipt. They will also complete part 3 of form 1031 and they will return the form directly to the Retirement Visas Processing Unit.

When you have submitted evidence that the designated investment has been made, the Retirement Visas Processing Unit will advise you in writing to pay the second application charge (which is payable in respect of each person applying for the visa and must be paid prior to each grant, including each time the visa is renewed).