Have you considered the 405 (Investor Retirement) visa?

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Created on Monday, 09 December 2013 15:45

Written by Editorial staff

Many people believe travelling to exotic places is the domain of the young. However, it's also for the young at heart - those looking for an overseas adventure once they've left the workforce.

Australia is a fantastic country in which to live and work, but it's one of the best places in the world to retiree, too! With an enviable outdoor lifestyle, wonderful food and plenty of activities to keep you occupied, this could be the perfect destination for a few post-work years.

If you would like to retire Down Under, one way to do so is through the 405 (Investor Retirement) visa program. This has been designed just for prospective retirees who desire to spend their golden years in Australia.

There are a number of conditions attached to this kind of visa, and some of them - especially the financial requirements - can get a little complicated.

The following is a brief overview of the 405 visa. If you need more information or could use some help applying for this and other immigration visas, get in touch with migration agents in Australia today.

In order to be eligible for the 405 visa, you must be a minimum of 55 years old. It's important to note this age requirement applies to you alone - your spouse or de facto partner is allowed to be any age.

You and your significant other must also have no dependents, and you need to be nominated by the state or territory in which you want to reside.

When it comes to your finances, you should possess at least $750,000 AUD in assets if you want to set-up camp in most places around the country.

There is an exception, however, for those who choose to move to regional areas in Australia. Here, you're only required to have $500,000 AUD in assets if you wish to apply for the 405 visa.

In addition to such assets, you must also be willing to make a "designated investment" of at least $750,000 (or $500,000, if you head to regional Australia) to the state or territory you opt to reside in.

Finally, you must also fulfil certain health and character requirements to be considered for the 405 visa.

Still interested? Then get in touch with migration agents in Australia to discuss your options, and get ready for the adventure of a lifetime!