Retirement visa is the permission which is to retire in Australia after your career or other reason. This is for those people who want to live in Australia for the later part of their life. There are particular norms in which the person has to accept certain conditions and fulfill basic attributes for which he will be eligible for the visa. Many non-locals come and settle in Australia as it is a very calm and peaceful country and also it provides many opportunities for starting business. The retires are allowed to spend some time in Australia.
Criteria for Eligibility of Retirement Visa
There are certain criteria which have to be fulfilled by the applicant so that he can apply for the retirement visa. The following points are some of the most important criteria to fulfill.
- The person should be at least 55 or older.
- The person should be sponsored by the Australian State or the Territory Government.
- The person should not have any dependent family members other than the person’s spouse. This will be one of the most important criterions.
- You should own assets for more than 2 years before you have started lodging. The asset can either be annuation or should be acquired by inheritance.
- Both you and your partner should own health insurance which is independently. The health package should be similar to the Australian Department of Health.
- They should not have plans of working there for a long time or they should not even try to apply for a full time job. They have permission to work only for 20 hours a week.
- Their health and character should be good the country doesn’t take responsibility of giving and kinds of conveyance to your illness.
Duration of the Visa
Retire in Australia is a temporary option. No one can stay in Australia forever without the legal notification. Any visa has a temporary duration and it doesn’t last for lot of time. Retirement visa is no different and the visa provides only limited period of time to stay in Australia. Saying this, the holder is allowed to apply for an extension of the visa. There are many retirees who apply for an extension when they are already holding a retirement visa. The advantages of applying for extension are that the possibility of acquiring extension is much easier than getting the permanent visa.
Advantages of the Visa
The person holding a retirement visa is awarded with few privileges which he can leverage on while his stay in Australia. Some of the advantages are written in the following points.
- For getting on with your basic financial support, the person is allowed to work for 20 hours per week. This will allow the person to do part time jobs and leverage the amount of money which is earned.
- Once you get the visa stamping done you can go in and out of Australia how many ever times you want. This is only valid till the visa is valid.
- The basic advantage as we all know is you can live anywhere in Australia for 4 years. Travelling inside Australia is very easy and one doesn’t need a special permission.
- You can take along your partner or spouse. This comes along with the stamping of the visa that you are eligible to take along one dependent partner of yours.