THIS VISA HAS BEEN DISCONTINUED - NO MORE NEW APPLICATIONS
People from overseas who are 55 years or older, have no dependants (other than a spouse who can be any age), are financially independent and are able to make a significant long term financial investment in Australia.
If you are granted this visa you can:
- work in Australia for up to 20 hours per week
- travel in and out of Australia any number of times as long as your visa is valid
- live in Australia for four (4) years
- have your spouse accompany you to Australia.
You must be 55 years of age or older. Your spouse (if any) can be any age.
You must be sponsored by an Australian State or Territory government agency (other Australian Capital Territory).
You must have no dependent children or other dependent family members other than a spouse.
If you are married or in a de facto relationship, your partner must have no dependent children or other dependent family members.
You will be required to invest in goverment bonds A$750,000 and hold it there for the duration of your visa. You will also need to prove you have assets and income to meet the initial settlement costs and living iexpences in Australia.
The assets must be:
- legally owned and lawfully acquired by you (or you and your spouse)
- capable of and available for, transfer to Australia
Exception: If you intend to live in regional Australia the required investment is A$500,000.
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