The Investor Retirement visa is a TEMPORARY visa for self-funded retirees who are more than 55 years old, have no dependants other than a partner (who can be of any age) and who are sponsored by an Australian State or Territory. It is valid for four years and allows you to travel in and out of Australia without restriction, as well as work in Australia for up to 20 hours per week. It does not lead to permanent residence or citizenship, but you can renew the visa every 4 years, as long as you meet the eligibility requirements.

Eligibility

The eligibility requirements for this visa are slightly more lenient if you are prepared to go and live in Regional Australia, which refers to the whole of Australia with the exception of Sydney, Newcastle, the Central Coast, Wollongong, the greater Brisbane area, the Gold Coast, the Melbourne metropolitan area and Perth and surrounding areas. To qualify for this visa you need to

• be 55 years of age or older
• be sponsored by a State or Territory Government
• have no dependants, apart from a partner
• have assets that are legally owned and capable of being transferred to Australia and
  • valued at at least AUD500,000 if you intend to live in Regional Australia, and
  • valued at least AUD750,000 if you don't
• have access to a minimum net income, such as a pension
  • of AUD50,000 if you intend to live in Regional Australia
  • of AUD65,000 if you don't
• be able to make a Designated InvestmentA Designated Investment is an investment in a primary-issue government security issued by an Australian State or Territory government authority. It has a maturity of no less than 4 years from the date of purchase and is non-transferable and non-redeemable - the security cannot be sold to another investor or sold back to the issuing authority before maturity. Repayment of the principal on maturity is guaranteed by the State/Territory government. in your name (or your name and your partner’s name) in the State or Territory that is sponsoring you
  • of AUD500,000 if you intend to live in Regional Australia
  • of AUD750,000 if you don't
• show that you (and your partner, if applicable) have adequate health insurance while you are living in Australia
• have no intention of working full-time
• be of good health and character
• sign an Australian Values Statement.This statement is included in your visa application form and all applicants aged 18 years and over will need to sign it to confirm that they will respect the Australian way of life and obey Australian laws. Before signing this statement you are required to have read, or had explained to you, material made available by the government on life in Australia which is contained in the Life in Australia book.