Investor Retirement visa (subclass 405)

Sunday 5 November 2023

About the Investor Retirement Visa (Subclass 405)

The Investor Retirement visa (subclass 405) is a temporary visa that allows self-funded retirees without dependents to live in Australia during their retirement years. This visa is specifically designed for individuals who wish to retire in Australia and have the financial means to support themselves.

What This Visa Allows You to Do

The Investor Retirement visa (subclass 405) grants several privileges to its holders. Firstly, it allows you to work in Australia for up to 40 hours per fortnight, providing an opportunity for retirees to engage in part-time employment if desired.

Additionally, this visa allows you to travel to and remain in Australia for a period of four years from the date of grant. After this time, you will need to apply for another visa to continue your stay in Australia.

Furthermore, the Investor Retirement visa (subclass 405) allows your partner, who has also been granted this visa, to accompany you to Australia.

Eligibility Criteria

In order to be eligible for the Investor Retirement visa (subclass 405), you must meet the following requirements:

  • You must be an existing Investor Retirement visa (subclass 405) holder, or
  • You must be a former Investor Retirement visa (subclass 405) holder who has not held another substantive visa since last entering Australia.


There are costs associated with the Investor Retirement visa (subclass 405). In addition to the visa application charge, there is a second visa application charge payable prior to the grant of the visa. This charge must be paid for each person applying for the visa and must be paid prior to each grant.

It is important to note that there may be additional costs for additional applicants who are 18 and over, as well as for additional applicants who are under 18.


In order to apply for the Investor Retirement visa (subclass 405), you must be sponsored by an Australian state or territory government agency (excluding the Australian Capital Territory). More information about sponsorship can be found on the respective websites of the sponsoring agencies, such as New South Wales, Northern Territory, Queensland, South Australia, Tasmania, Victoria, and Western Australia.

Designated Investment

One of the requirements for the Investor Retirement visa (subclass 405) is the maintenance of a designated investment throughout the duration of the visa. The amount of the designated investment decreases by AUD250,000 when you reapply for the visa, and then remains constant. If you choose to reapply for your visa, a designated investment of AUD500,000 must be made and maintained. However, if you live in regional Australia, a designated investment of AUD250,000 must be maintained.

Income Requirements

In order to be eligible for the Investor Retirement visa (subclass 405), you (or combined with your partner) must have access to a minimum net income of AUD65,000 per year. If you intend to live in regional Australia, this minimum net income requirement is AUD50,000 per year. It is important to note that this income test applies each time you apply for the visa, and if you choose to reapply, you must demonstrate that your net income still meets the requirement.

Health and Character Requirements

As with any visa application, you must meet certain health and character requirements. Health examinations are generally valid for 12 months, and you are responsible for organizing the necessary health examinations upfront before lodging your visa application. Additionally, if you are 16 years of age or older, you must be prepared to provide a police certificate from each country you have lived in for 12 months or more since turning 16 years of age. However, you should not arrange for police certificates until asked to do so by the Department.

Health Insurance

It is a requirement for the Investor Retirement visa (subclass 405) that you and your partner hold an adequate health insurance package for the duration of your intended stay in Australia. The health insurance must be fully comprehensive and provide coverage that is at least equivalent to Medicare, including coverage of 85% of costs for hospital, emergency, and general practitioner services, as well as coverage for pharmaceuticals. While it is preferable to have the policy with an Australian insurer, alternative arrangements that meet the above requirements can be accepted. However, these alternative arrangements may result in processing delays, as the insurance policy will need to undergo individual detailed examination. Failure to maintain adequate health insurance may result in the refusal of future visa applications.

Biometrics and Compelling Circumstances

As part of the application process, you may be asked to provide biometrics, which are a scientific form of identification.

In certain cases, where an applicant is suffering from hardships associated with aging or difficulties following the death of a partner, compelling and compassionate circumstances may be considered by the Department. These alternative requirements were introduced on 1 July 2017 for Investor Retirement (subclass 405) visa applicants in Australia who cannot meet certain visa criteria. If you cannot meet certain visa criteria, you will have an opportunity to provide more information after lodging your application for a further subclass 405 visa.

Debts to the Australian Government

Prior to the grant of the Investor Retirement visa (subclass 405), you must have no outstanding debts to the Australian Government. If you do have outstanding debts, you must arrange to repay them before the visa can be granted.

Application Process

In order to apply for the Investor Retirement visa (subclass 405), you need to complete and submit the relevant application forms. These forms include the Application for a Temporary Visa for Retirees (Form 1383) and the State/Territory Sponsorship Investor Retirement Visa (Form 1249). Additionally, you will need to pay the appropriate visa application charge.

It is important to gather all the necessary documents to support your application, such as certified copies of passports, marriage certificates or relationship registrations, evidence of health insurance, and evidence of financial assets. You should also be prepared to undergo health and character checks as part of the application process.

Once you have completed the application forms and gathered the required documents, you can lodge your application either by post or courier at the designated addresses provided by the Department of Home Affairs.

Waiting for a Decision

After you have lodged your application, you will receive an acknowledgement from the Department to confirm that they have received your information. The processing time for your application will depend on various factors, such as the need for character or health checks and the completeness of your application. It is important to note that if you are applying for the visa from outside Australia, you should not make any travel arrangements until you have been advised in writing that your visa has been granted.

Visa Decision and Rights

If your visa is granted, you will receive a letter or email from the Department with details about your visa grant, including the visa grant number and any conditions attached to the visa. It is important to note that a visa label will not be placed in your passport.

If your visa is not granted, you will receive a letter or email explaining the reasons for the refusal, your review rights (if any), and the time limit for applying for a review, if applicable.

Workers' Rights and Obligations

Workers in Australia, including visa holders with permission to work, have rights under Australian workplace law. The Fair Work Ombudsman's Pay and Conditions Tool (PACT) provides information on pay rates, shift calculations, leave arrangements, and other employment entitlements. It is important for visa holders to familiarize themselves with their rights and obligations under Australian workplace law.

As a holder of the Investor Retirement visa (subclass 405), it is essential that you comply with all visa conditions and Australian laws. Additionally, any changes in your circumstances must be reported to the Department in a timely manner using the appropriate forms.

Finally, it is important to enter Australia before the date given to you in your visa grant notification and to notify the Department of any changes in your address or passport details.

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