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This visa is designed for self-funded retirees who have no dependants and who want to reside in Australia during their retirement years. The visa is temporary and will not lead to Australian permanent residence or citizenship. To be eligible for this visa, you must meet the following basic requirements:
 Age – you must be 55 years of age or older
Sponsor – you must be sponsored by an Australian State or Territory government agency
Family – you must have no dependent children or other dependent family members other than a spouse
Assets – you must have assets valued at least A$750,000
Income – you must have access to a minimum net income of A$65,000
Designated Investment – you must be able to make a designated investment of A$750,000 in your name in the state or territory in which you have been sponsored
With granted this visa, you can work in Australia for up to 20 hours per week, travel in and out of Australia any number of times as long as your visa is valid, live in Australia for four (4) years and have your spouse accompany you to Australia.
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