Australian Investor Retirement Visa (subclass 405)
This visa allows you to enter and remain in Australia for the initial period of 4 years – renewable for 4 years after each period Retirees
ValidityThis is a temporary visa. It allows you to:
- work in Australia for up to 40 hours per fortnight
- travel to and remain in Australia for four years from the date the visa is granted – after that time you will need another visa
- have your partner (who has also been granted this visa) accompany you to Australia.
How it works
You and anyone included in your application can apply for this visa when you are in or outside of Australia.
You need to provide documents to prove the claims you make in your application.
Some documents could take some time to obtain. You should have all the required documents ready when you lodge your application to reduce any delays in processing.
You have to complete and lodge the Temporary Retirees Visa application form.
You also need to complete and lodge State/Territory sponsorship: Investor Retirement visa form with the state or territory in which you wish to be sponsored (other than the Australian Capital Territory).
As part of the application process you will need to make a designated investment. The following steps outline the process for making a designated investment:
- As well as applying to the state or territory government agency for sponsorship you should contact the treasury corporation, in that state or territory. They will forward current information on the terms and conditions and an investment application form. They will also send detailed instructions on how to lodge the designated investment. At the initial inquiry stage, the treasury corporation can only indicate the likely rate of return on a proposed investment. The actual rate of return on your investment will be set when you deposit your funds in the designated investment. Interest rates change regularly and may differ between state and territory treasury corporations.
- When your application has been processed and other requirements have been met, you (and your partner, if any) will be asked to complete relevant health and character checks.
- When your health and character checks have been finalised,you will be advised to lodge the designated investment with the treasury corporation in the state or territory in which you have been sponsored. The individual treasury corporations will be able to provide you advice on the procedures to transfer your funds for the designated investment. The funds cannot be withdrawn for the length of your visa except under exceptional circumstances.
- When you have submitted evidence that the designated investment has been made, you will be advised in writing to pay the second application charge.
You might be able to get this visa if you:
- are 55 years or older
- have no dependents (other than a partner, if any)
- meet income requirements
- are able to make a significant long term financial investment in Australia.