This visa is available for self-funded retirees who wish to reside in Australia during their retirement years. You must be nominated by the Government of Western Australia.
The 405 is a temporary four year visa and is only available to existing Investor Retirement visa (subclass 405) holders, or former Investor Retirement visa (subclass 405) holders who have not held another substantive visa since last entering Australia.
You can re-apply for further 405 visas which will allow you to stay a further four years in Australia, however you must meet the criteria to be granted the subsequent visas.
An application fee of AUD$750 is payable for the Investor Retirement visa (subclass 405) State Nomination Application.
State Nomination criteria
Western Australian State Nomination criteria includes:
- you are 55 years or older
- you are an existing Investor Retirement visa (subclass 405) holder or a former Investor Retirement visa (subclass 405) holder who has not held another substantive visa since last entering Australia
- you have no dependants (other than a partner who is already the holder of, or whose last substantive visa was, a subclass 405)
- you have an income of AUD$65,000 per year (or AUD$50,000 per year if you wish to live in a regional area)
- you have a Designated Investment of AUD$500,000 with the Western Australian Treasury Corporation (or an investment of AUD$250,000 if you wish to live in a regional area)
- you (and your partner if applicable) will hold private health insurance for the period of your intended stay
Regional postcodes for this visa
The postcodes in Western Australia which are defined as regional for this visa are:
- 6041 to 6044
- 6083 to 6084
- 6121 to 6126
- 6200 to 6799
All other postcodes in Western Australia are metropolitan.