Australia's temporary residence program includes a category for people wishing to live in Australia in their retirement. An Investor Retirement [subclass 405 - Temporary] visa allows retirees to spend some of their retirement years in Australia. Other categories of visa may be better suited to clients wishing to gain permanent residency including parent visas, remaining relative visas and other permanent visas. Speak to a Migration Matters consultant today to be further advised of your options.


What is an Investor Retirement visa?


An Investor Retirement visa is a temporary entry visa to Australia. It does not lead to permanent residency in Australia or to Australian citizenship. You may apply for an Investor Retirement visa if you are over the age of 55, have no dependants (other than a spouse), and are able to support yourself financially in Australia without being a cost to Australia's social and welfare services and are sponsored by a State or Territory. You must also be of good health and character, and have adequate health insurance.

Investor Retirement visa holders may work for up to 20 hours each week.

If you are successful in gaining an Investor Retirement visa you will be allowed to come to Australia, initially, for 4 years. Once in Australia, after the initial 4-year period, you can apply for a further stay.


What are the eligibility requirements?


You can apply for an Investor Retirement Visa if you:

• are 55 years of age or older;
• are sponsored by an Australian State or Territory government agency;
• have no dependent children or other dependent family members other than a spouse;
• are married or in a de-facto relationship, your partner has no dependent children or other dependent family members;
• have minimum assets legally owned and lawfully acquired by yourself, or yourself and your spouse, capable of and available for transfer to Australia, of:
• AUD$500,000 if you have indicated to your State or Territory government agency sponsor that you intent to live in a regional/growth area of Australia;
• AUD$750,000 if you have indicated to your State or Territory government agency sponsor that you do not intend to live in a regional/low growth area of Australia;
• have a minimum net income stream (for example, pension rights) that can be accessed for yourself or yourself and your spouse of:
• AUD$50,000 annually if you have indicated to your State or Territory government agency sponsor that you intend to live in a regional/low growth area of Australia; or
• AUD$65,000 annually if you have indicated to your State or Territory government agency sponsor that you do not intend to live in a regional/low growth area of Australia;
• are able to make a minimum designated investment of:
• AUD$500,000 in your name or your name and your spouse's name, in the State or Territory in which you have been sponsored, if you have told your sponsoring State or Territory that you intent to live in a regional area;
• AUD$750,000 in your name or your name and you spouse's name, in the State or Territory in which you have been sponsored if you have told your sponsoring State or Territory that you intend to live in a non-regional area;
• You must have held all of the assets listed above for 2 years prior to lodging your application, unless the assets are related to superannuation and/or inheritance;
• have evidence that you, and your spouse if applicable, hold a private health insurance package that meets Australian Department of Health and Ageing (DHA) guidelines during the period of your intended stay in Australia;
• have no intention of working full-time in Australia (you will be allowed to work up to 20 hours per week as the holder of an Investor Retirement visa);
• are of good health and character.

Note: Assets should NEVER be sold unless advised by DIMIA to do so.


Renewing your Investor Retirement Visa


You may apply for subsequent Investor Retirement Visas if you:

• are sponsored by an Australian State or Territory government agency;
• have no dependent children or other dependent family members other than a spouse;
• are married or in a de-facto relationship, your partner has no dependent children or other dependent family members;
• have a minimum net income stream (for example, pension rights) that can be accessed for yourself or yourself and your spouse of:
• AUD$50,000 annually ie you have indicated to your State or Territory government agency sponsor that you intend to live in a regional/low growth area of Australia; or
• AUD$65,000 annually if you have indicated to your State or Territory government agency sponsor that you do not intend to live in a regional/low growth area of Australia;
• are able to make a minimum designated investment of:
• AUD$2500,000 in your name or your name and your spouse's name, in the State or Territory in which you have been sponsored, if you have told your sponsoring State or Territory that you intent to live in a regional area;
• AUD$500,000 in your name or your name and you spouse's name, in the State or Territory in which you have been sponsored if you have told your sponsoring State or Territory that you intend to live in a non-regional area;
• have evidence that you, and your spouse if applicable, have held for the duration of your previous stay in Australia and continue to hold a private health insurance package that meets DHA guidelines;
• have no intention of working full-time in Australia (you will be allowed to work up to 20 hours per week as the holder of an Investor Retirement Visa);
• are of good health and character.

State and Territory government agencies


Before applying for an Investor Retirement visa, you need to contact a State or Territory government agency to obtain sponsorship. You can use the links listed below to access individual State or Territory government agency websites.

State/Territory	Agency
Australian Capital Territory	Business ACT
New South Wales	NSW Department of State and Regional Information
Northern Territory	Department of Industries and Business
Queensland	State Development and Innovation
South Australia	Immigration SA
Tasmania	Tasmania Department of Economic Development
Victoria	Business Migration
Western Australia	Small Business Development Corporation

State and Territory government treasury corporations


For information on the terms, conditions, investment application form and how to lodge the designated investment, please contact the Treasury Corporation, in the State or Territory that will sponsor you. You can use links listed below to access individual State or Territory treasury corporation websites.

State/Territory	Corporations
Australian Capital Territory
New South Wales	NSW Treasury Corporation Registry
Northern Territory	Northern Territory Treasury Corporation
Queensland	Queensland Treasury Corporation
South Australia	South Australian Government Financing Authority
Tasmania	Tasmanian Public Finance Corporation
Victoria	Treasury Corporation of Victoria
Western Australia	Western Australian Treasury Corporation

May I buy a house in Australia?


Yes you may be able to purchase a house in Australia, however you should contact the Foreign Investment Review Board (FIRB).

Migration Matters is able to assist you with any enquiries to the FIRB contact a consultant today.

Foreign Investment Review Board
C/- The Treasury
Canberra ACT 2600
AUSTRALIA

Telephone: +61 (0) 2 6263 2111
Facsimile: +61 (0) 2 6263 2940

http://www.treasury.gov.au


Resources for Retirees to Australia


Lifestyle Matters


Lifestyle Matters is a Melbourne based company owned and operated by Jill and Owen Weeks. The Executive Director is Owen Weeks B.Com, CFP, FNIA.

Lifestyle Matters plays a key role in delivering quality presentations and materials to companies and organisations around Australia, based on multi-award winning books, documents and articles they have written. Their books include "Where To Retire In Australia", "Retire Bizzi," "21 Ways To Retire", "Looking Ahead" and the "Tax Angles Of Retirement".

Jill and Owen Weeks:

• Specialise in gathering information about lifestyle locations, retirement locations, new ways of working and having fun.
• Ensure that quality and professional information is given to Australians 45+

In 1999 Jill and Owen took a year off to travel extensively around Australia to research their book, "Where To Retire In Australia". Their award - winning book has been a sell-out success, and it has captured the interest of the public. Jill and Owen are often featured on radio, in newspaper and magazine articles. They are popular keynote speakers for conferences and seminars around Australia.

Whilst travelling around Australia, Jill and Owen realised that there was a story that had never been told about how "retirees" and those seeking a "seachange" can develop additional sources of income from profitable hobbies, and lifestyle business ventures. This led to a second book titled: "Retire Bizzi", 101 case studies of people who have successfully made lifestyle career changes, or "retired" for a short time, and who were running small businesses or profitable hobbies.

In summary, Jill and Owen have developed a business built around the presentation of high quality materials and seminars, regarding the non-financial aspects of retirement and lifestyle.

For further information:

http://www.where2retire.com.au

http://www.retirebizzi.com.au

Email: tellus@where2retire.com.au


Greypath


Greypath is an Australia located seniors Internet portal with a substantial world reach. It is now in the top 5% of world sites, and carries a comprehensive range of free services for the 50+ age group, including travel, entertainment, free writers courses, chat rooms, for sale, home swaps, competitions, free advisories on computing, pets, travel, gardening and much more.

For further information: http://www.greypath.com