Those interested in retiring in Australia can get a temporary Investor Retirement Visa (subclass 405) by making a large financial investment in Australia, reports the Australian Department of Immigration and Border Protection. The Retirement Visa (subclass 410) is only open to current or former 410 visa holders as of 2015.
Those eligible for a 405 retirement visa must be at least 55 years old and without dependents except for a partner, according to the Australian Department of Immigration and Border Protection. As of 2015, their assets must total more than AUD 750,000, and their yearly income must be at least AUD 65,000. An Australian territorial or state government agency must sponsor them, and they must invest at least AUD 750,000 in the sponsored territory. To satisfy health requirements, applicants must undergo a physical examination and have comprehensive health insurance. Applicants may also be asked to provide biometrics data as well as police records from any country they have lived in for the past 10 years.
No new 410 retirement visas are issued, but those who hold or formerly held 410 visas and their partners can receive or renew 410 visas, states the Australian Department of Immigration and Border Protection. No dependent children or other relatives are eligible to receive the visas, and applicants must be self-supporting and of good character.