For self-funded retirees who have no dependants and want to live in Australia during their retirement years.
Eligibility
- Visa renewal eligibility
- Once you are the holder of an Investor Retirement visa (subclass 405), you can apply for it to be renewed after four years. You must fulfil all of the requirements of the visa in the first four years and receive state sponsorship approval again in order to extend your stay in Victoria.
You can only apply for this visa if you are:
- an existing Investor Retirement visa (subclass 405) holder; or
- former Investor Retirement visa (subclass 405) holder who has not held another substantive visa since last entering Australia.
Victorian sponsorship eligibility
- Age and dependants
You must be aged 55 years or older and have no dependants, other than your partner.
- Sufficient funds to settle in Victoria
The applicant and their dependents must have sufficient funds to settle in Victoria. It is the responsibility of the applicant to research and determine the cost of living in Victoria to ensure their own financial resources are adequate for settlement. See further information on the cost of living in Victoria.
- Living in Victoria
You must have a genuine commitment to establish a residence and reside in the State of Victoria as per the visa and nomination conditions.
- Investment in Victoria
You must have maintained a designated investment of at least A$750,000 in your name (or in the names of you and your partner), in the Treasury Corporation of Victoria for the duration of your first Investor Retirement visa (subclass 405). The funds for the designated investment are in addition to the Department of Home Affairs’ asset requirements.
If you intend to live in regional Victoria you must have maintained a designated investment of at least A$500,000 in your name (or in the names of you and your partner) in the Treasury Corporation of Victoria for the duration of your first Investor Retirement visa (subclass 405).
A designated investment must be maintained for the duration of the Investor Retirement visa (subclass 405). The amount of the designated investment decreases by A$250,000 the first time you reapply for the visa and then remains constant thereafter. If you reapply for your Investor Retirement visa (subclass 405), a designated investment of A$500,000 must be made and maintained. If you live in regional Victoria, a designated investment of A$250,000 must be maintained.
