If you want to retire in Melbourne
If you wish to retire to Australia, and have adequate funds to bring to the country for investment purposes, they’ll be happy to have you and take your money.
Investor Retirement Visa (subclass 405)
This visa is initially valid for four years, but can be renewed indefinitely in 4 year intervals provided you continue to meet the requirements. To be eligible for this visa you must be 55 years or older, have no dependents, and be able to prove you are self supportive. Your spouse or partner can be of any age, and you will both be allowed to work up to 20 hours a week and enter or leave the country any number of times during the visa’s validity. This visa does have some very specific monetary requirements (depending on where you intend to settle) that many average retirees will not be able to meet. You must be able to provide evidence of the following asset, income, and investment requirements:
- At least $750,000 AUD in assets (or $500,000 AUD if settling in a Regional Growth Area)
- A combined, ongoing annual income of at least $65,000 AUD, such as pensions (or $50,000 AUD if settling in a Regional Growth Area)
- Be able to make a designated investment of $750,000 AUD in the state in which you are settling, independent of your assets (or $500,000 AUD if settling in a Regional Growth Area)
If you meet the above requirements, and can provide your own comprehensive health insurance (which shouldn’t be too difficult, with those sorts of resources) this visa should be relatively easy for you to obtain.
For detailed current information see http://www.immi.gov.au/visitors/retirement/405/
