Australian Visas for People Aged 55+
Investment Retirement Visa
If you are aged 55+, have no dependents other than your partner and can support yourself to live in Australia through your retirement years, you may consider the Subclass 405 Investment Retirement visa.
Investment Retirement visas are temporary visas which allow you to work and live in Australia for up to four years. After four years, you can apply for another Investment Retirement visa with reduced requirements.
The primary applicant for the Investment Retirement visa must be over 55, but your partner can be any age. To meet the requirements of this type of visa, the Department will look at your finances to make sure that you can support yourself after you move to Australia. You must have assets of more than $750,000 if you plan to move to an urban area, or $500,000 if you plan to move to regional Australia. These assets must have been held by you or by you and your partner for at least two years before you apply for your visa. There are various exemptions to this requirement if your assets lie in superannuation, a pension, or inheritance.
You must also meet the requirement for access to income – the Department will look for a minimum income of $50,000 a year, depending on where in Australia you want to live.
The final criteria to address is an investment – you must make an investment into the State or Territory that you plan to move to. The general health and character requirements that apply to all Australian visas will also apply. Choosing an Australian migration agent brings the benefits of local experience in relation to your investment choices.
Each time you reapply for a Significant Investor visa, you must show your income is still in operation, but your assets do not need to be re-tested. The investment you are required to make to meet the conditions of your new visa will decrease – our experienced migration lawyers can assist you with the requirements for your investments, income, and any other financial requirements for the successful grant of your Investment Retirement visa.
Visas for Parents
The Parent visa scheme is complex, with different requirements imposed on the different subclasses. The basic concept is that you have an Australian child who will sponsor you for migration to Australia, who can support you financially if required. Visas for parents fall into two categories – while the requirements are generally the same, the Contributory Parent visa scheme allows you to pay higher visa application charges for faster processing.
Contributory Parent Visa
The Contributory Parent visa scheme allows applicants the option of paying higher visa processing fees to secure faster processing of their visa. The Contributory Parent visa scheme also allows applicants to choose between applying directly for a permanent visa, or breaking down the payments into instalments over two years with a temporary visa option before moving onto the permanent visa. You can also bring your dependent children, relatives, or your partner with you on these visas, but remember that each person will attract a separate fee to migrate with you!
The following subclasses of visa are available under this category: