AUSTRALIAN
RETIREMENT VISA – SUBCLASS 410
Basic
Requirements
In
order to qualify for an Australian Investor Retirement visa, applicants must be
over 55 years of age and have no dependents other than a spouse. Applicants
must be self-supporting and be willing to make a significant long-term
financial investment in Australia.
Applicants
require sponsorship from a participating State or Territory government and will
be required to make a designated investment in that sponsoring State or
Territory. The investment amount varies depending on where the applicant
settles and a reduced investment is available to applicants who settle in a
regional area of Australia.
All
Australian visa applicants must satisfy health and character requirements.
Visa
Entitlements
Applicants
who are granted an Investor Retirement visa will become temporary residents of
Australia for up to four (4) years. The Australian Investor Retirement visa is
not an avenue to permanent residence or citizenship in Australia. Investor
Retirement visa holders who continue to satisfy the visa requirements are
entitled to apply for subsequent Investor Retirement visas.
Successful
applicants are entitled to work up to twenty (20) hours per week and are
required to pay taxes on any income earned. Temporary residents cannot access
social welfare benefits or government subsidised health care (Medicare) and are
required to obtain adequate health insurance cover for the duration of their
stay in Australia. Citizens of countries with which Australia has Reciprocal
Health Care Agreements (RHCA) are entitled
to emergency medical cover in Australia.
RHCA
countries include Finland, Italy, Malta, the Netherlands, Sweden and the United
Kingdom.
