Eligibility
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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 spouse (if any) can be any age.
Sponsor
You must be sponsored by an Australian State or Territory government agency (other than New South Wales or Australian Capital Territory).
Family
You must have no dependent children or other dependent family members other than a spouse.
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 A$750,000. These assets will enable you (or you and your spouse) 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 spouse)
- capable of and available for, transfer to Australia
Exception: If you intend to live in regional Australia you must have assets valued at least A$500,000.
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.
Income
You (or you and your spouse combined) must have access to a minimum net income of A$65,000 (for example, pension rights).
Exception: If you intend to live in regional Australia you must have access to a minimum income of A$50,000.
Designated Investment
You must be able to make a designated investment of A$750,000 in your name (or your name and your spouse'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 A$500,000.
Health insurance
You must have evidence that you, and your spouse (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 spouse 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 NSW or the ACT.
- You or your spouse must have no dependent children or other dependent family members other than a spouse.
- You need to have a minimum net income stream (for example, a pension) that can be accessed for yourself or yourself and your spouse. If you live in a metropolitan area the minimum is A$65,000 or if you live in a regional area, the minimum is A$50,000.
- You are able to make or maintain a designated investment in your name or your name and your spouse'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 A$250,000, and if you live in a metropolitan area you need to invest a minimum of A$500,000.
- You have evidence that you and your spouse, if applicable, have held and continue to hold adequate health insurance.
- You and your spouse, if applicable, will only be able to work up to 20 hours per week while in Australia.
- You and your spouse 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