This is a temporary visa for self-funded retirees have no dependants and want to live in Australia throughout their retirement. To be eligible you need to be:
- Aged 55 or older;
- Have no dependents, other than a partner.
- Meet income requirements; and
- Are able to make a significant long-term investment in Australia.
The eligibility requirements are quite onerous. Applicants are required to transfer at least A$500,000 settlement funds, at least $500,000 investment funds hand have in income of at least A$50,000 per year to settle in a regional area. If you wish to live in a non-regional area settlement and investment funds increase by 50%, and minimum income by 30%.
State sponsorship from the State in which you wish to live is required for a successful application.
If you think that this is Right Visa for You, contact AK Migration & Visa Services and find out how we can help you enjoy your retirement in Australia.