Investor Retirement (Subclass 405) Visa

The Investor Retirement (Subclass 405) visa allows eligible retirees to obtain a long term (4 years with an option to extend) temporary visa to settle in Australia.

Australia’s Northern Territory is participating in the Investor Retirement visa and actively seeks to attract retirees to settle in our jurisdication.

Under the Investor Retirement visa you can choose to settle either in a metropolitan or a regional or low growth area of Australia.  Retirees who choose to settle in a regional or low growth area can access lower eligibility criteria through sponsorship by a State or Territory Government.   If you are sponsored by the Northern Territory, these lower eligibility criteria apply to the whole of the Northern Territory as it is considered “regional” for the purposes of the visa.

You can choose to live anywhere in the Northern Territory including Darwin, its capital. Information on living in the Territory is available at www.theterritory.com.au.

Eligibility

You must:

  • be aged 55 years and over (your spouse can be younger) with no dependents
  • have Northern Territory Government sponsorship
  • deposit A$500 000 as a Designated Investment with the Northern Territory Treasury Corporation in Territory Bonds initially for 4 years
  • show evidence that you have an additional A$500 000 in assets available for transfer to establish yourself and to live in the Northern Territory
  • show that you have a minimum net income stream of A$50 000 per year
  • demonstrate that you have appropriate health cover for you and your partner
  • demonstrate that you do not intend to work full-time in Australia (Investor Retirement visa holders are only permitted to work up to 20 hours per week).

You and your partner will also need to meet the Department of Immigration and Citizenship’s (DIAC) health and character requirements for the Investor Retirement visa.

Northern Territory sponsorship

To lodge a sponsorship application with the Department of Business and Employment (DBE), you will need to:

  • determine whether you meet the criteria for Northern Territory Investor Retirement sponsorship
  • complete the Form 1249 State/Territory Sponsorship: Investor Retirement Visa (www.immi.gov.au.allforms/pdf/1249.pdf)
  • submit your completed Form 1249 to DBE together with a Statement of Assets for each of the previous 2 financial years and other supporting documents
  • provide evidence that you can meet the minimum annual income stream requirement of A$50 000
  • lodge A$500 000 with the Northern Territory Treasury Corporation in Territory Bonds as a Designated Investment.

If Northern Territory sponsorship is granted DBE will return the completed Form 1249 and other documentation to you.

You will then need to:

The application checklist is at http://www.immi.gov.au/visitors/retirement/_pdf/405-document-checklist.pdf

A Northern Territory Investor Retirement sponsorship is valid for 12 months from date of approval.  If the Northern Territory sponsorship approval expires before you lodge your visa application, you will need to lodge a new sponsorship application.

You will be advised by DIAC when the Designated Investment of A$500 000 into Territory Bonds should be lodged with the Northern Territory Treasury Corporation.

If successful, you and your spouse will be granted a temporary residence visa initially for 4 years. If you intend to apply for a further visa, you will again require Northern Territory sponsorship but the Designated Investment amount will reduce to A$250 000. DBE will not require you to submit another Statement of Assets and Liabilities. However, you will be required to demonstrate that you have been living in the Northern Territory to qualify for ongoing Territory sponsorship.

If you are assessed as eligible for Northern Territory sponsorship you will be advised and asked to sign a sponsorship agreement. Northern Territory Sponsorship is conditional upon:

  • The Designated Investment of A$500 000 invested in Territory Bonds through the Northern Territory Treasury Corporation for the initial 4 year term of the visa. For subsequent visas, a Designated Investment of $250 000 in Territory Bonds is necessary.
  • Residency in the Northern Territory. You should notify DBE of your arrival and residency details. Evidence of ongoing residency in the Northern Territory will be required for continued sponsorship if you intend to apply for further Investor Retirement visas.
  • A minimum annual income stream of $50 000 (combined income of both spouses is acceptable).

Further information

It is recommended that you visit the Department of Immigration and Citizenship’s (DIAC) website for comprehensive information on eligibility and the visa application process. The website is http://www.immi.gov.au/visitors/retirement/405/

Department of Business and Employment
Postal Address: GPO Box 9988, Darwin NT 0801 Australia
Email: migration.dbe@nt.gov.au
Web: www.migration.nt.gov.au

DISCLAIMER:The Northern Territory of Australia and the Department of Business and Employment disclaim any liability or responsibility or duty of care towards any person for loss or damage (including special, indirect or consequential loss or damage such as loss of revenue) suffered or caused by any use or reliance on this information. While care has been taken in the production of this Fact Sheet, it is provided as general information only. The Northern Territory of Australia and the Department of Business and Employment accept no responsibility (including for negligence) for errors or omissions and do not assert or imply that it is complete, accurate or current. No person should rely upon the information in this Fact Sheet for the purpose of making any serious, business or investment decisions without obtaining independent and/or professional advice in relation to their particular situation.

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