Unfortunately, this visa class was closed in 2018 for new applicants.
For investors who wish to retire or spend part of their retirement in Australia, this temporary visa is suitable. Applicants can obtain this visa for an investment commitment the minimum amount of which depends on whether they want to settle in rural Australia or in one of the major cities. Currently, investments of A$500,000.- or A$750,000.- are required. A prerequisite is sponsorship by the Australian state or territory government, in which the applicant has to make an investment during the visa period. Furthermore, there are minimum assets and annual net income amounts that must be exceeded.
Since this visa is specifically designed for retirees, applicants have to be at least 55 years of age. Applicants can include their partners in the application (no age restrictions), but no other family members.
This visa is a temporary residence permit for max. four years, which can be extended for a further four years with simplified conditions. However, access to permanent residency is not possible via this pathway.
The most important visa requirements at a glance:
- Aged over 55
- Valid passport
- Sponsored by an Australian state or territory government
- Willingness to settle in a specific region
- Evidence of sufficient financial assets
- Health check
Visa validity and essential visa conditions:
- Temporary visa for four years
- Willingness to transfer assets to Australia
- Work rights (max. 40 hrs within a fortnight)
- Private health insurance required