Please Note: The Department of Home Affairs removed the 405 Investor Retirement visa from the list of available visas on 1 June 2018. New applicants are no longer able to apply for this visa.
The Investor Retirement subclass 405 visa are for investor retirement applicants (age 55 and older) who meet certain financial requirements and have no dependants.
How do Investor visas work?
The Investor Retirement subclass 405 visa is a temporary visa that is issued for a period of 4 years. The visa can subsequently be extended for a period of another 4 years if the criteria is met.
Criteria for an Investor Retirement subclass 405 visa
Applicants must meet requirements in the following fields:
- Age – applicant must be 55 older (partner can be any age).
- Must have no dependant children or other dependant family.
- Notify the State/Territory.
- Must have AUD 750,000 worth of legally squired assets which can be transferred to Australia within 2 years. For regional growth areas AUD 500,000.
- Must have access to a net income (partner and applicant combined) of AUD 65,000 per annum. For regional / low growth areas AUD 50, 000.
- You are required to make a designated investment of AUD 750, 000 in the area/region that sponsors your application. For regional/low growth areas AUD 500,000.
- Must have in place comprehensive Health Insurance.
- Meet the health requirements.
- Have no intention of working full time in Australia (20 hours per week is permitted).
- Be of good character.
- All applicants over the age of 18 need to sign and agree to the Australian Values Statement. Prior to signing applicants for this visa are required to have read, or had explained to them, material made available by the government on life in Australia which is contained in the Life in Australia book.
What options are the at the end of 4 years?
An application can be made for a further Investor Retirement Visa subject to the below criteria:
- Appropriate state sponsorship is in place.
- No dependant children.
- Net Income requirement continues to be met.
- A designated investment for AUD 250,000 must be maintained in the applicants (or applicants and partners name), this rises to AUD 500, 000 for metropolitan areas.
- You maintained you previous designated investment for the period.
- Hold comprehensive health insurance.
- Have no intention to work more than 20 hours per week.
- Continue to meet the good character and health requirements.
Getting help with an Investor Retirement subclass 405 visa
Intergate Emigration has a licensed immigration agent – Katrin Maja Maehl. You can view her details on the official Migration Agents Authority website here.
You should only deal with licensed immigration agents and must also take care of ‘agents’ outside of Australia with an Australian DIBP Offshore ID. This looks very official and gives you a sense of security – do not be fooled! Migration agents operating outside Australia do not have to be registered with the Office of the MARA. The department issues ‘offshore agents’ with an identification number for administrative purposes only.
In short, if an agent does not appear as licensed immigration agent on the MARA website, do not enlist their services.
Contacting Intergate Emigration
To find out more about the Investor Retirement subclass 405 visa as well as other Australian immigration and visa options, you are welcome to call us on + 27 (0) 21 202 2800 or e-mail us here.