richjop

Visa 405-4 Year Investment Retirement Visa (temp)

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    Hopefully someone out there may be able to help. My parents have come over on the above Visa and have lodged a bond with the SA Government. Their agent in the UK advised that they would receive half of the bond back after 2 years and the other half after the 4 years are up and then reapply if they are not permanent by then. Having looked on the immigration website we can see very little reference to the money, has anyone come over on one of these or know anyone? Thanks Joanne

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    Hmmmm ..... that doesn't sound correct to me, Joanne.

     

    Have a look at the Designated Investment requirements here:

    http://www.immi.gov.au/visitors/retirement/405/eligibility.htm#f

     

    and the renewal requirements for a subclass 405 visa here:

    http://www.immi.gov.au/visitors/retirement/405/eligibility.htm#k

     

    As an aside, are your parents aware that 405 visaholders can make use of the temporary resident provisions in the tax legislation, and pay no Australian tax on overseas source investment income and capital gains?

     

    Best regards.

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