This visa is for self-supporting people who wish to retire in Australia. Persons over the age of 54 who have a certain level of assets and income can apply under this category.
You must have sponsorship from an Australian State or Territory government, where a designated investment will be made. New South Wales are not part of this scheme.
The Investor Retirement Visa is a temporary visa that allows you to stay in Australia for four years. Provided you continue to satisfy the visa requirements, you can keep applying for subsequent Investor Retirement visas.
Holders of a temporary visa qualify for an exemption from Australian tax on most types of foreign sourced income, effectively making Australia a "tax haven" for individuals retiring to Australia on this visa.
Areas of each state are split into two for the purpose of this visa, areas of high growth and areas of low growth. The financial criteria is less demanding for individuals choosing to live in a low growth area.
To meet the financial requirement for low growth areas you must have a minimum total net worth of A$1,000,000, of which you will need to deposit A$500,000 in a designated investment with the appropriate State Government, who guarantee repayment of your investment on maturity.
Furthermore, you must have a minimum net income stream (for example, pension rights) that can be accessed by yourself and your spouse of A$50,000 per annum.
Designated investments, as offered by State and Territory Treasury Corporations, are:
If you wish to apply for a further Investor Retirement Visa after 4 years you will need to make a reduced minimum investment.
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