State Sponsored Retirement Investor
The State Sponsored Retirement Investor visa is a temporary visa (four years) for eligible people wishing to spend some of their retirement years in South Australia.
Further four year extensions are available for those who continue to meet the criteria.
What Criteria must You Meet?
Sponsorship by the South Australian Government requires that all the following criteria are met:
- The main applicant be 55 years of age or older, have no dependants, apart from a spouse (who may be younger).
- Applicants need to make a minimum designated investment (DI) with the South Australian Financing Authority of A$500,000 for the initial four year period and A$250,000 for any subsequent four year visas.
- For the initial visa only, provide evidence of at least A$500,000 (combined) that can be used to establish a lifestyle in Australia .
- For the initial and all subsequent visa applications, provide evidence of an annual (combined) income of at least A$50,000.
South Australian State Sponsorship in this visa category will allow your application to be considered under lower visa threshold criteria.
DIAC requirements
- For the initial and all subsequent visa applications, a non-refundable charge of A$8,000 per person is payable to offset aged care costs,
- Each applicant must also provide evidence that they hold a private health insurance package that meets the Department of Health and Ageing guidelines throughout their period of stay in Australia,
- Investor Retirement Visa holders have limited work rights of 20 hours per week, to allow activities such as volunteer work or investment management.
How to Apply
Further information & application forms regarding applying for the Retirement Investor 405 Visa can be found on DIAC's website.
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