AMS Migration Services
The Specialists in Australian Migration
Retirement in Australia
Have you ever thought of spending your hard earned retirement in Australia and taking advantage of the wonderful life style, climate and relaxed pace of life?
If you or your spouse are over 55, with sufficient income and capital to meet requirements you may well be eligible for an Australian retirement visa and be able to fulfil that dream of retirement in Australia.
As a guide you will need at least A$1,000,000 in assets (you and your spouse combined if applicable) capable of and available for transfer to Australia, a proportion of which will need to be used for a designated government investment. Plus a (combined if applicable) minimum net income stream (for example pension rights) of A$50,000 annually.
Who is Eligible for Retirement in Australia?
To be eligible for an Australian retirement visa you and / or your spouse must;
- Have State or Territory government sponsorship
- Make an investment in a government treasury bond in that State or Territory
- Be 55 or older
- Have no dependent children or other dependent family members except a spouse
- Have sufficient assets to ensure they can support themselves in Australia
- Have no intention of working full-time in Australia. Investor Retirement visa holders are allowed to work up to 20 hours per week in Australia.
- Be of good health and character
- Maintain private health insurance for the duration of their visa.
How Long Can I Stay in Australia?
The initial visa will be valid for a stay period of 4 years. At the end of this initial stay period, applicants can apply for another 4 year visa. The criteria to be met for subsequent applications will be easier than those at the initial stage. Despite being a temporary visa, there is very little to prevent self-funded retirees from spending the rest of their lives in Australia.
What if My Health Deteriorates as I Get Older?
This is a natural concern many people have with the Australian Investor Retirement visa when planning their retirement in Australia. Lets face it very few people would be lucky enough to enjoy perfect health for the rest of their life once they have retired to Australia.
The Australian Government have recognised this fact, the easier criteria on subsequent applications includes a relaxation of the health criteria, only the presence of Tuberculosis or other public health risks will cause a problem which will require you to undertake to follow a prescribed coarse of treatment and monitoring. Simply the existence of a medical condition or illness will not result in failure to meet the onshore medical requirements and you will not be made to leave Australia for medical reasons. Also you will have comprehensive Australian medical insurance (a condition of the visa) so you will be able to take advantage of the finest medical care Australia has to offer.
Can I Buy a House on an Australian Retirement Visa?
Yes you can, however you have to gain approval from the Australian Foreign Investment Review Board first. As long as it is going to be your home for your retirement in Australia approval is usually a formality.
What Do I Do Next?
The next step you need to take towards realising your dream of retirement in Australia is to go to our free assessment page, complete the questionnaire as fully as possible, and I will send you, free of charge, an assessment of your eligibility for an Australian Investor Retirement visa, or any other type of Australian visa. Included in the assessment will be details of costs, our professional fees, and what to do next.
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