Eligibility and Application Process of Investor Retirement Subclass 405
For all the self-funded retirees who intend to live in Australia after their retirement and have no dependants can apply for the Investor Retirement Subclass 405 which grants them to work and live in Australia during their retirement years. This is the temporary visa category that is designed to allow the self-funded retirees to spend their retirement years in Australia. Since it is the temporary visa class, the applicant can seek the Australian permanent residency visa or citizenship. This visa category is only meant for people who are above 55 years and have no dependant and are self supported financially. They also need to ensure that they can make significant long term investment in Australian economy to become eligible for it.
What Does Investor Retirement Subclass 405 Grants?
Retirees who want to spend their retirement years with comfort and enjoyment in Australia can apply for Investor Retirement Subclass 405 and this visa category will grant the following benefits.
- They can work in Australia for at least 40 hours per fortnight
- It allows them to travel in and out Australia for multiple times
- They can live in Australia for a time span of four years
- You can accompany your partner along with you
- The visa can be renewed after a interval of four years
The Eligibility Criteria for Investor Retirement Subclass 405
There certain things which you need to fulfil in order to become eligible for the Investor Retirement Subclass 405. You need to meet the following eligibility criteria.
- Fulfil the criteria set by the Australian Department of Home Affairs
- Reside and invest in the economy of Australian with some long term investment
- You need to register you application with BSMQ directly.
- You need to be above the age of 55 years without any dependant
- You need to prove your financial standing
- Ensure that you are self-supported
Application Process for Investor Retirement Subclass 405
- Step One: You need to review and ensure to meet all the eligibility criteria, document checklist and visa conditions mentioned at the website of Department of Home Affairs.
- Step Two: You need to register your application at BSMQ website directly and also secure the state nomination
- Step Three: You are required to lodge the crucial documents at the website including Application Form or Queensland State Nomination Application for Investor Retirement Subclass 405, Completed form 1249, Copy of your Australian visa, one page summary and supporting evidence for your investment and assets, evidence of residency in Queensland, evidence of net annual income.
- Step Four: Upload all these forms and documents and pay the non-refundable application fees at BSMQ website and finalize your application. The BSMQ will review the application and may ask you to provide further details. It may take up to 14 days for finalizing the application and sending you the ITA.
Step Five: Upon approval, you will receive a signed copy of Department of Home Affairs Form 1249 which you need to lodge for your visa application and you need to submit it within one year.