For self-funded retirees who have no dependants and want to live in Australia during their retirement years.
Visa renewal eligibility
Once you are the holder of an Investor Retirement visa (subclass 405), you can apply for it to be renewed after four years. You must fulfil all of the requirements of the visa in the first four years and receive state sponsorship approval again in order to extend your stay in Victoria.
You can only apply for this visa if you are:
- an existing Investor Retirement visa (subclass 405) holder; or
- former Investor Retirement visa (subclass 405) holder who has not held another substantive visa since last entering Australia.
To find out further eligibility requirements for this visa, read the Department of Home Affairs' visa criteria for the Investor Retirement visa (subclass 405).
Victorian sponsorship eligibility
Age and dependants
You must be aged 55 years or older and have no dependants, other than your partner.
Sufficient funds to settle in Victoria
The applicant and their dependents must have sufficient funds to settle in Victoria. It is the responsibility of the applicant to research and determine the cost of living in Victoria to ensure their own financial resources are adequate for settlement. See further information on the cost of living in Victoria.
Living in Victoria
You must have a genuine commitment to establish a residence and reside in the State of Victoria as per the visa and nomination conditions.
Investment in Victoria
You must have maintained a designated investment of at least A$750,000 in your name (or in the names of you and your partner), in the Treasury Corporation of Victoria for the duration of your first Investor Retirement visa (subclass 405). The funds for the designated investment are in addition to the Department of Home Affairs' asset requirements.
If you intend to live in regional Victoria you must have maintained a designated investment of at least A$500,000 in your name (or in the names of you and your partner) in the Treasury Corporation of Victoria for the duration of your first Investor Retirement visa (subclass 405).
Metropolitan and Regional areas are based on postal codes nominated by the Department of Home Affairs.
A designated investment must be maintained for the duration of the Investor Retirement visa (subclass 405). The amount of the designated investment decreases by A$250,000 the first time you reapply for the visa and then remains constant thereafter. If you reapply for your Investor Retirement visa (subclass 405), a designated investment of A$500,000 must be made and maintained. If you live in regional Victoria, a designated investment of A$250,000 must be maintained.
You need to apply for Victorian visa sponsorship before you make a formal application for your visa. Applying for visa sponsorship from the Victorian Government involves two steps.
Step 1: Apply for visa sponsorship
You need to register as a user of this website and then complete your application. You will need to prepare the following documentation for your application and upload it when requested:
- Appointment of an Agent/Representative form (if applicable)
- Sponsorship Conditions form for State Sponsored Investor Retirement visa (subclass 405)
- Relevant Part B Renewal form.
All forms are available from the Supporting documentation and forms page.
Step 2: Lodge a formal visa application
If you receive visa sponsorship from the Victorian Government, you can then proceed to lodge a formal visa application with the Department of Home Affairs.
Victorian sponsorship processing times
Processing times can vary. You can expect an outcome within four weeks from the time your complete application for visa sponsorship is lodged.
We will contact you or your agent (if applicable) if we need more information to assess your application.
You or your agent (if applicable) will be notified of the outcome of your visa nomination application by email.
As part of your application, you will be required to agree and adhere to the following obligations:
- you have read (or have had read to you) the contents of your application and confirm that the information contained therein is true and correct
- you confirm that you meet all of the Department of Home Affairs' visa eligibility criteria
- you have sufficient financial resources to support yourself and your partner to settle in Victoria and understand that it is your responsibility to determine the cost of living in Victoria
- you will notify the Victorian Government of any changes to your contact details and agree to participate in any surveys that the Victorian Government may initiate.
The Victorian Government:
- may share information relating to your application and your business/investment activities in Victoria with the Department of Home Affairs
- reserves the right to make direct contact with you in relation to your application or related matters; this may include contact from the Commissioner of a Victorian Government Business Office to discuss potential assistance in relation to business/investment activity in Victoria
- has no legal authority to deal with visa matters and will not advocate to the Department of Home Affairs or the Migration Review Tribunal on your behalf
- does not endorse any investment made, or any business activity undertaken, by you nor does it accept liability for any financial loss, cost or expense incurred as a result of any business decision, business activities or investments made by any person in any way connected with your application or otherwise.
Without express written consent from the Victorian Government, failure to comply with the above conditions may result in the withdrawal of Victorian Government support for your application.