Temporary Investor Retirement visa - subclass 405
Am I eligible?
If you can answer YES to the following questions you are in a position to apply for an Investor Retirement visa.
- You are aged 55 years or over? The age of your spouse, if applicable, is irrelevant.
- You do not have any dependent children or other dependant family members.
- You have owned tour assets for a minimum of 2 years
- If you intend to reside in a regional area of Australia you can evidence funds of A$1 million or if you intend to reside in a non-regional area of Australia you can evidence net assets of A$1.5 million
- If you intend to reside in a regional area of Australia you can make a designated investment of A$500,000.00 or if you intend to reside in a non-regional area of Australia you can make a designated investment of A$750,000.00
- You have a net income of A$50,000.00 (regional) or a net income of A$65,000.00 (non-regional). It should be noted that income from your designated investment will attract interest at approximately 5%
- You are of good health and character?
Things you should know
The Investor Retirement visa is available to applicants who have sufficient assets and income and who can make a significant long term financial investment in Australia. An investor retirement visa is valid for an initial stay in Australia as a temporary resident for up to four years. Further stays can be granted at four year intervals. Holders of Investor Retirement visas are not able to:
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Sponsor relatives
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Become permanent residents or Australian citizens
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Access social security/Medicare benefits
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Work for more than 20 hours per week
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Purchase property without approval from the Foreign Investment Review Board.
Regional
Entire states of South Australia and Tasmania, Northern Territory, Queensland (except Brisbane and the Gold Coast), Victoria (except Melbourne), New South Wales (except Sydney, Wollongong and Newcastle) and Western Australia (except Perth) are regional.
Non-regional
Brisbane and the Gold Coast, Melbourne, Perth, Sydney, Wollongong, Newcastle & Canberra are non-regional.
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