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INVESTOR RETIREMENT (SUBCLASS 405) by Alice Ken
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INVESTOR RETIREMENT (SUBCLASS 405) |
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Education,Law,Writing
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Investor Retirement (subclass 405) visa is a temporary visa designed for people who are self-funded retirees and who do not have dependents but they want to live in Australia in their years of retirements. To be eligible for investor retirement (subclass 405) visa, you must be over 55years of age but your partner can be of any age. You must not have dependent children or family member and this applies even to your partner. You must make sure that you are sponsored by Australian State/ territory government agency. You and your partner must meet certain health requirements that are listed on the visa application form. You and your partner must meet character requirements and in so doing, you are required to give police certificate from the country you have lived for 12 months for ten years after you turned 16 years of age. Before making application for investor retirement (subclass 405) visa, make sure that you or your partner do not have any outstanding debt that belongs to the Australian government. Your assets must be valued at AUD750000.The asset must be legally owned and available for transfer to Australia. The asset listed must be held for 2 years before your visa is lodged unless they are related to inheritance, pension, and superannuation. However, the asset test applies to new investor retirement (subclass 405) visa applicants. Your minimum income must be AUD65000 annually. The income test applies every time you apply for investor retirement (subclass 405) visa. You must give an evidence that you hold enough health insurance package for you and your partner for the time you intend to live in Australia. Failure to have adequate health insurance package may lead to your visa been refused or canceled. You are at times required to give biometrics during visa application. Investor Retirement (subclass 405) allows you to work for 40 hours per fortnight. You are required to comply with the visa conditions and Australian laws.
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