The Investor Retirement visa (subclass 405) allows you to live in Australia if you:
- are 55 years or older
- have no dependents (other than a partner, if any)
- meet income requirements
- are able to make a significant long term financial investment in Australia.
This is a temporary visa.
You can include your partner in your application. You and your partner must not have any dependents.
You can apply for this visa whether you are in or outside Australia if you apply:
- in Australia, you must be in Australia when the visa is granted
- outside Australia, you must be outside Australia when the visa is granted.
What this visa lets you do
This is a temporary visa. It allows you to:
- work in Australia for up to 40 hours per fortnight
- travel to and remain in Australia for four years from the date the visa is granted – after that time you will need another visa
- have your partner (who has also been granted this visa) accompany you to Australia.
Before you apply
Usually, you and your partner need to have valid passports to be granted this visa.
If you plan to get a new passport, you should do this before applying for your visa. If you get a new passport after you have lodged your application, give the details of your new passport to one of
The visa application charges are listed in
Fees and charges.
There is a second visa application charge payable prior to the grant of the Investor Retirement visa (subclass 405). This charge is payable in respect of each person applying for the visa and must be paid prior to each grant (including each time the visa is renewed).
You may have to pay other costs, such as: health assessments, police certificates, other certificates or tests. You are responsible for making the necessary arrangements.
This information tells you whether you might be eligible for an Investor Retirement visa (subclass 405).
Who could get this visa
You might be eligible for this visa if you meet:
- the age requirements
- sponsorship requirements
- family requirements
- income and investment requirements
You must be 55 years of age or older. Your partner can be any age.
You must be sponsored by an Australian state or territory government agency (other than the Australian Capital Territory. Further information can be found on their websites.
You and your partner must not have dependent children or other dependent family members.
You must have assets (or if you have a partner, your combined assets) valued at least AUD750 000.
The assets must be:
- legally owned and lawfully acquired by you (or you and your partner)
- capable of and available for, transfer to Australia.
Exception: If you intend to live in regional Australia you must have assets (or if you have a partner, your combined assets) valued at least AUD500 000.
Regional Australia/Low Population Growth Metropolitan Areas
All assets listed must be held for two years before lodging your application, unless they are related to superannuation, pension and/or inheritance. If you are intending to sell assets for your move to Australia, we recommend that you wait until after your visa is granted. If you need to sell assets to meet visa requirements, you should carefully consider whether you will be able to finance your ongoing stay in Australia. The assets are in addition to the funds required to make the designated investment.
This asset test only applies to new Investor Retirement visa (subclass 405) applications. If you choose to reapply for your visa you do not need to meet the assets test again.
You (or combined with your partner) must have access to a minimum net income of AUD65 000 per year.
If you intend to live in regional Australia you (or combined with your partner) must have access to a minimum net income of AUD50 000 per year.
This income test applies each time you apply for an Investor Retirement visa (subclass 405). If you choose to reapply for your visa you will need to show that your net income still meets this requirement.
You must have made a designated investment of at least AUD750 000 in your name (or in the names of you and your partner), in the state or territory in which you have been sponsored. The funds for the designated investment are in addition to your asset requirements.
If you intend to live in regional Australia you must have made a designated investment of at least AUD500 000 in your name (or in the name of you and your partner) in the state or territory in which you have been sponsored.
A designated investment must be maintained for the duration of the Investor Retirement visa (subclass 405). The amount of the designated investment decreases by AUD250 000 the first time you reapply for the visa and then remains constant thereafter. If you reapply for your Investor Retirement visa (subclass 405) a designated investment of AUD500 000 must be made and maintained. If you live in regional Australia a designated investment of AUD250 000 must be maintained.
You must have evidence that you and your partner hold an adequate health insurance package for the period of your intended stay in Australia.
For health insurance to be considered adequate, it must:
- be fully comprehensive
- provide coverage that is at least equivalent to Medicare (including coverage of 85 per cent of costs for hospital, emergency, and general practitioner services)
- provide coverage for pharmaceuticals.
It is preferable that the policy is with an Australian insurer; however alternative arrangements that meet the above requirements can be accepted. Alternative arrangements, with an overseas insurer, will need individual detailed examination of the insurance policy and may result in processing delays.
If you do not maintain adequate health insurance it may result in the refusal of future visa applications.
You must meet certain
health requirements. The results of your health examinations are generally valid for 12 months.
This applies to you and any dependent family members included in the application.
You are able to
organise your health examinations upfront before lodging a visa application.
You must meet certain character requirements. If you are 16 years of age or older, you must be prepared to provide a police certificate from each country you have lived in for 12 months or more, during the past 10 years, since you turned 16 years of age. Do not arrange for police certificates until we ask you to.
Debts to the Australian Government
You must have no outstanding debts to the Australian Government or have arranged to repay any outstanding debts to the Australian Government before this visa can be granted.
You might be asked to provide
biometrics (a scientific form of identification) as part of the application.
Countries and visa subclasses included in the biometrics program has more information.
How to apply
This information explains what you need to do to apply for an Investor Retirement visa (subclass 405). You and anyone included in your application can apply for this visa when you are in or outside of Australia.
Prepare your documents
You need to provide documents to prove the claims you make in your application. These documents are listed in the Document checklist below.
Some documents could take some time to obtain. You should have all the required documents ready when you lodge your application to reduce any delays in processing.
Lodge your application
You must complete the following application form:
Application for temporary visa retirees (275 KB PDF).
You also need to complete and lodge
State/Territory sponsorship: Investor Retirement visa (76 KB PDF) with the state or territory in which you wish to be sponsored (other than the Australian Capital Territory). The relevant state or territory government agency will sign and stamp the form and return it to you if they agree to sponsor you. Once the completed sponsorship form is returned to you it should be lodged along with your application form.
Applying in Australia:
Lodge your application at the
Hobart office in Tasmania - attention Specialist Temporary Entry Centre (Tas).
Note: Applications lodged at other Immigration offices in Australia will be forwarded to Hobart which will delay processing.
Provide all relevant documents and pay the first instalment of the visa application charge when you apply. You can pay by credit card, bank cheque or money order made payable to the Department of Immigration and Border Protection and pay the visa application charge when you apply. Your visa application should be lodged at one of the following addresses:
Sending by post
Department of Immigration and Border Protection
GPO Box 794
Hobart Tas. 7001
Lodging by courier
Department of Immigration and Border Protection
14th Floor, 188 Collins St
Hobart Tas. 7000
Lodging in person
Department of Immigration and Border Protection
Ground Floor, 188 Collins St
Hobart Tas. 7000
Lodging via fax
03 6281 9453
Make a Designated Investment
As part of the application process you will need to make a designated investment. The following steps outline the process for making a designated investment:
- As well as applying to the state or territory government agency for sponsorship you should contact the treasury corporation, in that state or territory. They will forward current information on the terms and conditions and an investment application form. They will also send detailed instructions on how to lodge the designated investment. At the initial inquiry stage, the treasury corporation can only indicate the likely rate of return on a proposed investment. The actual rate of return on your investment will be set when you deposit your funds in the designated investment. Interest rates change regularly and may differ between state and territory treasury corporations.
- When your application has been processed and other requirements have been met, we will ask you (and your partner, if any) to complete relevant health and character checks. Prospective applicants should not undergo medicals until advised by us.
- When your health and character checks have been finalised, we will advise you to lodge the designated investment with the treasury corporation in the state or territory in which you have been sponsored. The advice will also include a
Declaration: Designated Investment (54 KB PDF), which will have been completed by us and will need to be sent with your investment application. The individual treasury corporations will be able to provide you advice on the procedures to transfer your funds for the designated investment. The funds cannot be withdrawn for the length of your visa except under exceptional circumstances.
- When you have submitted evidence that the designated investment has been made, we will advise you in writing to pay the second application charge.
Please refer to
preparing your application, for information on:
- certifying and translating documents into English
- communicating with us
- using a migration agent
- authorising another person to receive information from us
- receiving assistance with your application.
After you have applied
After you have lodged your application and documents, we will acknowledge that we have received your information.
Wait for a decision
visa processing times for each visa.
Your application could take longer if you need character or health checks (including x-rays), if you need to provide more information, or if your application is incomplete.
If you apply for this visa from outside Australia, do not make arrangements to travel to Australia until you are advised in writing that you have been granted a visa. Wait for a decision from us before you leave your job, sell your home or book your travel.
If you apply for this visa in Australia, you could be eligible for a Bridging visa that allows you to stay in the country lawfully while your application is processed. If you are given a Bridging visa A, you can apply for a
Bridging visa B (BVB) to travel outside Australia while you wait for a decision.
Provide more information
You can provide more information to us, in writing, at any time until a decision is made on the application. If you want to correct information you provided, you can use:
Notification of incorrect answer(s) (99 KB PDF).
We could also ask you for more information and will have to respond by a set date. After that date, we can make a decision about your application using the information that we have.
If another person gives us information that could result in you being refused a visa, we will generally give you the opportunity to comment on the information.
Report changes in circumstances
Tell us if your circumstances change. You can use the following forms:
Form 929Change of address and/or passport details (86 kB PDF) — if you move to a new address or change your passport
Form 1022Notification of changes in circumstances (77 kB PDF) — if there are other changes in your circumstances.
Withdrawing your application
You can withdraw the application at any time before we make a decision about it. To do this, send us a letter or email to ask for the withdrawal. Your request must include your full name, date of birth, and either your file reference number, client ID, or a Transaction Reference Number.
Applicants who are 18 years of age or iolder must sign the letter of withdrawal or send a separate email.
If the visa is granted, we will send you a letter or email to tell you:
- when you can use the visa
- the visa grant number
- any conditions attached to the visa.
You will not have a visa label placed in your passport.
The letter we send you will also tell you the date you must enter Australia.
If the visa is not granted, we will send you a letter or email to tell you:
- why the visa was not granted
- your review rights (if any)
- the time limit for applying for a review (if applicable).
You need to provide documents to support your application for this visa. We can make a decision using the information you provide when you lodge your application. It is in your interest to provide as much information as possible with your application.
Provide certified copies of original documents. Do not include original documents unless we specifically ask for them. Police certificates should be original documents. Documents not in English must be accompanied by accredited English translations.
Use this checklist to make sure your application is complete.
Application for a temporary visa for retirees (275 KB PDF)
State/territory sponsorship Investor retirement visa (77 KB PDF).
- Pay the visa application charge.
- If someone gives you advice or lodges your application for you, that person completes:
Advice by a migration agent/exempt person of providing immigration assistance (the agent or exempt person completes the form and you must sign it) (133 KB PDF).
- If you would like someone to receive correspondence from us on your behalf, that person completes:
Appointment or withdrawal of an authorised recipient (the recipient completes the form and you must sign it) (116 KB PDF).
- Certified copies of the biographical pages of the current passports or travel documents of all people included in the application (these are the pages with the holder's photo and personal details and the issue/expiry dates).
- Two recent passport-sized photographs (45 mm x 35 mm) of each person included in the application.
- These photographs should be of the head and shoulders only against a plain background.
- Print the name of the person on the back of each photograph.
- Certified copies of marriage certificates or relationship registrations for you and anyone else included in your application, even if they are not joining you in Australia.
- If you are living in a de facto relationship: independent evidence that you have been in the relationship for at least 12 months (for example, joint bank account statements or billing accounts in joint names).
Your health insurance
- Evidence that you and your partner (if applicable), hold an adequate health insurance package.
Australian Values Statement
- An Australian Values Statement signed by everyone included in the application who has turned 18 at the time of the visa application.
- A one-page summary statement outlining the assets and liabilities on a single day in the three months preceding your application. You should identify which assets are to be used to:
- establish yourself in Australia
- fund the designated investment
- generate an annual income.
- Evidence of ownership and value of the assets included in your summary statement for at least two years preceding your application.
For cash assets:
- bank statements, at least two years preceding your application and on a single day in the three months preceding your application. All bank statements must have the same date of issue.
For real estate assets:
- overseas real estate
- evidence of ownership, such as title deeds
- evidence of value, such as valuation certificate by an accredited property valuer (valuations by real estate agents who are not accredited property valuers are generally not acceptable)
- mortgage statements (if applicable) showing balance of amount owed.
- real estate in Australia
- certified copy of approval letter for the purchase of real estate in Australia from the Foreign Investment Review Board (FIRB).
For business assets:
- evidence of ownership and value, including business registration certificate or licence, evidence of share of ownership (this may include evidence of purchase, share registers/company registers/share transfer documents or historical company extracts), annual returns of directors and shareholders or partnership/trust/franchise agreements
- extracts from financial statements for your business, prepared by an independent accountant to International Accounting Standards, including balance sheet, profit and loss statement and notes to the accounts. Financial statements must be provided for two of the four fiscal years prior to application.
Note: Letters from an independent accountant must be on company letterhead. Any letter prepared in plain paper will not be acceptable.
For personal or business loans:
- loan agreements, loan statements indicating amount borrowed and repayment schedule, listed in business balance sheet (if loan is to / from a business).
For stocks and bonds:
- share or bond registers, share / fixed interest securities / debentures certificates, transfer certificates, market value.
- statement from superannuation fund managers.
- statement from government agency/pension fund stating amount of pension received and date that pension commenced.
Other personal asset items:
- evidence of ownership and evidence of value, such as valuation certificate by an accredited valuer, for example antiques or jewellery.