Retirement Visa - £450k equity

[Guest Cornish Pasties]

Hi All,

 

I heard recently on Relocation Downunder that the guidelines for retirement in Oz had changed and you now need at least £450k equity to get granted a retirement Visa. I'm thinking ahead and worried that if my parents wanted to join us they would not be able to do so without the necessary funds. Do the rules differ slightly once you are Australian Citizen or should their health deteriorate and you wanted them to live with you out in Oz?

 

Cheers

[Gollywobbler]

Hi All,

 

I heard recently on Relocation Downunder that the guidelines for retirement in Oz had changed and you now need at least £450k equity to get granted a retirement Visa. I'm thinking ahead and worried that if my parents wanted to join us they would not be able to do so without the necessary funds. Do the rules differ slightly once you are Australian Citizen or should their health deteriorate and you wanted them to live with you out in Oz?

 

Cheers

 

 

Hello CP

 

There are different rumours going around about the subclass 405 Investor Retirement visa. The current details about the visa are here:

 

Investor Retirement (Subclass 405)

 

The current rumours seem to be here:

 

General Queries - Forum Powered by Social Strata

 

Howard Snow is the expert. He was the first person to get a sc 405 visa, I believe, and he has renewed it rrecently. He is more than willing to help anybody else who is thinking about a sc 405 visa and he is very clued up about all the details. As far as I know, he doesn't post anywhere except the Go Matilda forum.

 

I've exchanged e-mails with Howard in the past. He told me that people are very welcome to ask him questions but that he does ask them to read all his posts on the Go Matilda forum first, because he does not have time to repeat information that he has already provided. If you go into the GM forum and hit "find," you can do a search for all posts by Howard Snow. He is not prolific so it is not a mammoth task!

 

According to a post by Howard recently, the Aussie Government seem to be thinking about closing the sc 405 visa for new applicants. Please see his replies to Bertie on the thread below:

 

405 Visa - application temporary deferment - Topic Powered by Social Strata

 

I have glanced at the DIAC document that Howard describes but I have not read it properly.

 

I'd trust Howard Snow to know the details more than I would trust the researchers on a TV programme to understand them.

 

Why are you interested in the Investor Retirement visa option for your parents, please? Is it because they don't meet the Balance of Family Test for Parent migration? If yes, might they be likely to be willing to consider moving to Malaysia instead?

 

MM2H Malaysia My Second Home Forum - Index

 

I don't know what has been happening with the Malaysian MM2H visa lately but as far as I know there are no plans to close it.

 

MM2H visas are nowhere near as expensive as the Aussie Investor Retirement visa and Malaysia is a good jumping off point for regular tourist visits to Oz, so all is not necessarily lost if the Investor Retirement visa is closed off.

 

Cheers

 

Gill

[Guest Cornish Pasties]

Hello CP

 

There are different rumours going around about the subclass 405 Investor Retirement visa. The current details about the visa are here:

 

Investor Retirement (Subclass 405)

 

The current rumours seem to be here:

 

General Queries - Forum Powered by Social Strata

 

Howard Snow is the expert. He was the first person to get a sc 405 visa, I believe, and he has renewed it rrecently. He is more than willing to help anybody else who is thinking about a sc 405 visa and he is very clued up about all the details. As far as I know, he doesn't post anywhere except the Go Matilda forum.

 

I've exchanged e-mails with Howard in the past. He told me that people are very welcome to ask him questions but that he does ask them to read all his posts on the Go Matilda forum first, because he does not have time to repeat information that he has already provided. If you go into the GM forum and hit "find," you can do a search for all posts by Howard Snow. He is not prolific so it is not a mammoth task!

 

According to a post by Howard recently, the Aussie Government seem to be thinking about closing the sc 405 visa for new applicants. Please see his replies to Bertie on the thread below:

 

405 Visa - application temporary deferment - Topic Powered by Social Strata

 

I have glanced at the DIAC document that Howard describes but I have not read it properly.

 

I'd trust Howard Snow to know the details more than I would trust the researchers on a TV programme to understand them.

 

Why are you interested in the Investor Retirement visa option for your parents, please? Is it because they don't meet the Balance of Family Test for Parent migration? If yes, might they be likely to be willing to consider moving to Malaysia instead?

 

MM2H Malaysia My Second Home Forum - Index

 

I don't know what has been happening with the Malaysian MM2H visa lately but as far as I know there are no plans to close it.

 

MM2H visas are nowhere near as expensive as the Aussie Investor Retirement visa and Malaysia is a good jumping off point for regular tourist visits to Oz, so all is not necessarily lost if the Investor Retirement visa is closed off.

 

Cheers

 

Gill

 

Hi Gill,

 

Many thanks for supplying info. I only ask for future should my parents want to follow us out to Oz so Malaysia really isn't a viable option for them.

Cheers again

CP

[Guest Kazzarazza]

Hi CP,

 

You don't need anything like 450 thousand pounds for a normal age parent visa or the contributory parent visa. Why are they looking at the investor visa if they will have family in Aus. Or, as Gollywobbler asks, do they not meet the balance of family test to be eligible for one of the other visas available.

 

Also, will you be entering as a permanent resident, or on a temporary/provisional visa? This could be important in determining how long you may have to wait before you can sponsor your parents for their visa.

 

Cheers, Kazza

[Guest Cornish Pasties]

Hi CP,

 

You don't need anything like 450 thousand pounds for a normal age parent visa or the contributory parent visa. Why are they looking at the investor visa if they will have family in Aus. Or, as Gollywobbler asks, do they not meet the balance of family test to be eligible for one of the other visas available.

 

Also, will you be entering as a permanent resident, or on a temporary/provisional visa? This could be important in determining how long you may have to wait before you can sponsor your parents for their visa.

 

Cheers, Kazza

 

Hi Kazza,

 

Cheers for that. They're aren't looking at any visa at mo it's just me worrying that if they wanted to come over they might not have sufficient equity but if I can sponsor them then that'll sort that out. We'll be on a permanent visa. Of course parents will say they have no intention of emigrating but I thought if I start working on them now tee hee....

 

CP

[snifter]

This is interesting. About the parent visa. We'd perhaps encourage my parents to make a move if it were possible we could sponsor them in a few years.

[Guest Kazzarazza]

This is interesting. About the parent visa. We'd perhaps encourage my parents to make a move if it were possible we could sponsor them in a few years.

 

Hey Snifter,

 

Yes you can sponsor them, but they have to pass the "balance of family" test. This means they have to have at least 50% of their children living in Aus as permanent residents or citizens. So, if you're an only child, or one of two, no problem. If you are one of three then one of you're siblings must be here as well. That's obviously why Gollywobbler was asking the question about visa choice as the OP didn't make it clear and could have been looking at the wrong option.

 

Cheers, Kazza

[Gollywobbler]

Hi CP,

 

You don't need anything like 450 thousand pounds for a normal age parent visa or the contributory parent visa. Why are they looking at the investor visa if they will have family in Aus. Or, as Gollywobbler asks, do they not meet the balance of family test to be eligible for one of the other visas available.

 

Also, will you be entering as a permanent resident, or on a temporary/provisional visa? This could be important in determining how long you may have to wait before you can sponsor your parents for their visa.

 

Cheers, Kazza

 

Hi Kazza

 

How the very devil are you, my girl?!

 

Cheers

 

Gill

[snifter]

Hey Snifter,

 

Yes you can sponsor them, but they have to pass the "balance of family" test. This means they have to have at least 50% of their children living in Aus as permanent residents or citizens. So, if you're an only child, or one of two, no problem. If you are one of three then one of you're siblings must be here as well. That's obviously why Gollywobbler was asking the question about visa choice as the OP didn't make it clear and could have been looking at the wrong option.

 

Cheers, Kazza

 

I'm an only child. So makes things much more simple.

 

I did then go read about the wait times for both the sponsor routes. If they pay that contribution of whatever its called, its about $30,000 Aus or some such and visa within 2 years. If they don't have those funds then its up to 10 years

 

I'll do some more research and see if we could have it as an option at least.

 

Thanks