What You Need to Retire in Australia

Retirement is an excellent time to see the world and possible move yourself into a different location. For some, this is simply moving to a different state, but for others, it might be an entirely different country all together. If you are considering moving and retiring in Australia, you need to seek out the assistance of a migration consultant. This migration consultant is able to help you determine if you can retire and if you meet all of the necessary requirements to do so in Australia.

There are some very specific elements you need to prove in order to move and retire in Australia. First, you need to apply for what is known as an Investor Retirement Visa. In order to apply for this, you must be at least 55 years old, have no dependents other than your spouse and have the means to support yourself without living off of Australian welfare and social services.

Additionally, you need to have a set amount of assets and value in order to live in Australia. If you plan on living in a regional area, you need to have at least AUD500,000 in assets when you transfer to Australia and have a an annual income of at least AUD50,000 in investments and pensions. On top of this, you must invest at least AUD500,000 in the local state/territory government bonds (you will receive this money back when the bonds reach maturity, but you still must have the half million dollars to invest.

If you are looking at living in a non regional area of Australia, the ante is upped a bit. You must have at least AUD750,000 in assets available to transfer in Australia and an annual income of at least AUD65,000 annually. On top of this, you must invest in AUD750,000 in then local state/territory government bonds.

You need to hold onto all of these assets for at least two years before applying, unless you receive it form inheritance or pension rights. Either way, even when you receive the Investor Retirement Visa, you are not granted permeant residency, so you need to continue to apply before the visas expire.

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