The Australian Investment Retirement Visa allows non Australian residents to spend their retirement years living in Australia provided they meet a number of requirements.
To apply for an Australian Investment Retirement Visa you must meet the following criteria:
(You must have held all asset requirements for a minimum of two years prior to lodging your application)
An Australian Investment Retirement Visa is valid for 4 years and can be renewed at the end of each 4 year period providing the necessary criteria are met. This visa does not lead to residency.
During your stay you are entitled to work up to 20 hours a week in almost any industry other than the Australian Defense force or Australian Public service.
Visitors may be entitled to by property within Australia if they are approved to do so by the Foreign Investment Review Board.
You are not entitled to public healthcare or other social security benefits which may put a tax drain on the country. For this reason substantial assets and private health insurance must be held.
An application fee of $180 applies to each person applying for the Australian Retirement Visa. This fee is non refundable if the application is declined.
You must also cover cost of police checks, health examinations and document postage.
The application process varies depending on the country you are applying from. The standard time of processing is somewhere between 2 and 6 months.