Many people consider spending their retirement in Australia or relocating later in life to enjoy a different lifestyle and climate. A common question is how retirees can still obtain permanent residence in Australia. In this article, we provide a brief overview of the different visa options.
The key hurdle for staying in Australia long-term or permanently is obtaining the right visa. For permanent residence in Australia, you generally need what is known as Permanent Residency. There are different pathways available, each with its own requirements. Which Australian visa may be suitable therefore depends on your personal circumstances and plans.
Until 2018, financially independent retirees aged 55 and over who were willing to make an investment in Australia had access to the Investor Retirement visa. This visa allowed retirees to spend their later years in Australia. However, the Investor Retirement program has since been closed to new applications and is now only available to people who already hold a visa in this category and wish to extend it. For anyone newly deciding to spend their retirement in Australia, the only option is to consider alternatives. So what alternatives to the Investor Retirement visa might be available for retirees who want to migrate to Australia?
Age plays a key role for many Australian visas—particularly those that can lead to permanent residence. For many migrants, the classic pathway to Permanent Residency is via an Australian skilled visa. However, visas in this category generally have an age limit of under 45 (this limit applies at the time the visa application is lodged). Some other visa categories provide pathways to permanent residence up to the age of 54 (again, the age limit applies at the time of lodgement). From the age of 55, most visa options are generally no longer available. So what options remain for those who have already turned 55 but still feel young enough for a fresh start in Australia?
Skilled visas: the age limit applies only to the primary applicant
A skilled visa can also allow couples to migrate to Australia. If one partner meets the requirements for a skilled visa, that person can be the primary applicant and include their partner in the visa application.
In terms of the age requirement, the under-45 age limit applies only to the primary applicant, not to the partner. If the primary applicant meets all visa requirements—for example, occupation and work experience—then it does not matter if the accompanying partner has already exceeded the age limit. This means that for couples, only one person needs to meet the relevant age threshold.
Investor visas: age limits may depend on willingness to invest
Australia’s Business and Innovation visa options have a higher age limit compared to skilled visas. Australia offers a range of different streams for both passive investors and active business founders. In most cases, however, an age limit of 55 applies here as well.
That said, there is an exception in this area. The Significant Investor visa has no age limit and may therefore be a possible pathway for some people who wish to live in Australia. Aside from general formal requirements relating to character and health, there is essentially one key requirement: you must be willing to invest AUD 5 million (as at January 2021) for a period of at least four years into certain approved Australian investment categories.
The required investment portfolio for the Significant Investor visa is made up of a mix of shares and fixed-interest investments in Australian companies, commercial property, and investments in venture capital funds that invest in emerging Australian businesses. In practice, the invested funds are usually managed by specialist financial service providers and placed into specific funds that meet the visa requirements. Within certain limits, you may also have some influence over the investment mix. The returns from these investments do not need to be reinvested and may be withdrawn for living expenses or other purposes. After the required four years, holders of the visa may be eligible to apply for permanent residence, subject to meeting the relevant requirements in place at the time of application. Once permanent residence is granted, the investment obligation no longer applies.
Parent visas: living with your children in Australia
If your children already live in Australia, a parent visa may be an option. If your children are Australian citizens or permanent residents, a parent visa can, under certain conditions, be a suitable and age-independent pathway. There are different parent visa subclasses, some of which provide access to Permanent Residency.
Among the permanent options, the Contributory Parent visa and the Contributory Aged Parent visa are generally the subclasses that can provide a realistic pathway to permanent residence.
A key requirement for Contributory Parent visas is meeting the Balance of Family Test. This test assesses whether at least 50% of your children are Australian citizens or permanent residents. Example: if you have two children—one living overseas and the other living in Australia as a permanent resident—the Balance of Family Test is met, and this requirement for a parent visa is satisfied.
Partner visas: joining your partner in Australia
If you are in the fortunate position of having an Australian partner, a Partner visa may be an option where the partner is an Australian citizen or permanent resident. This visa category also has no age limit.
For a Partner visa, the primary focus is on demonstrating that you meet the relationship requirements set for the visa and that you can provide sufficient evidence of the relationship with your Australian partner.
You do not necessarily need to be married to apply for a Partner visa. Unmarried couples may also meet the requirements as de facto partners.
What if none of the options above apply? Which temporary alternatives are available?
What if none of the options above suit your circumstances? In that case, you may need to consider alternatives that are generally subject to certain restrictions and conditions, and therefore usually do not offer the same flexibility as Permanent Residency in Australia.
Temporary work visas
If you want to work and can secure an Australian employer, you may be able to be sponsored for a temporary skilled visa through the Temporary Skill Shortage visa (TSS). This Australian work visa is not age-restricted, but it only provides a temporary stay.
A genuine job offer is required, and the visa generally includes a condition to work full-time for the sponsoring employer while you are in Australia. If the employment ends, the visa ends as well. The validity period of a TSS visa depends on the occupation and the specific role, with a maximum of four years.
Temporary Parent Visa
For parents whose children live in Australia but who do not meet the Balance of Family Test, certain temporary parent visas may offer an alternative. These do not provide a pathway to Permanent Residency, but they can be granted for stays of up to five years at a time, allowing you to live with your children in Australia for several years.
Long-stay visitor visas
Another alternative—if you have neither a job offer nor children living in Australia—may be a Visitor visa, which can allow a continuous stay of up to 12 months. If granted with multiple entry conditions, this can provide additional flexibility and allow you to live in Australia on a temporary basis.
However, caution is required if multiple visitor visas and long stays in Australia are used back-to-back or in close succession. If stays are too long and/or too frequent, Australian immigration authorities may assume that the Visitor visa is not being used for genuine tourism or visiting purposes, but instead to establish a de facto residence in Australia. Depending on the pattern of travel, this may lead to a visa refusal. Anyone intending to apply for multiple visitor visas in a row should therefore seek clear information about the relevant migration requirements in advance.
What about health insurance if you move to Australia as a retiree?
A common and important question is how health insurance works if you want to move to Australia as a retiree. This depends primarily on which Australian visa you hold.
If you obtain a permanent visa (Permanent Residency), you generally become eligible to enrol in Australia’s publicly funded healthcare system, Medicare. Medicare does not involve separate membership contributions; it is funded through Australia’s tax system. For services not covered by Medicare, you can also take out private health insurance, which is generally possible for retirees as well.
If you do not hold a permanent visa and only have temporary permission to stay in Australia, the situation depends on several factors. For some temporary visa categories—particularly those that provide a pathway to permanent residence—it may be possible to obtain provisional access to Medicare in certain circumstances. If you are not covered by Medicare, you will need to arrange appropriate private health insurance.
