I have been looking for my options to relocate to Australia for my retirement. I noticed that many visa categories require the principal applicant to be no elder than 55 years old, which renders me ineligible. In my case, what are some other options?
Answers
Most of the business visa options have an age limit of 55 unless your business is of exceptional economic benefit to the state or territory. This usually involves making an investment of at least 50% more than the usual requirement, but it is also dependent on quota. However, the 188C significant investor visa has no age limit. It requires an investment of $5 million
into complying investments for a period of four years, after which time you can apply for permanent residency. As the investor retirement visas have been discontinued, this is probably the best option unless you have children living in Australia and are eligible for a parent visa.
If you have sufficient funds of at least $5 million to invest in complying investments over four years, you are not bound by age for the subclass 188 significant investor visa. This is a visa which ultimately leads to permanent residency if you hold your funds consecutively in that amount for four years. You are not obligated to start any business in Australia.