Stephi Posted January 30, 2018 Share Posted January 30, 2018 Hi folks, we are a 55 and 50 year old couple without children whose family in the main have now emigrated to Oz. (Mother, father, sisters brother in law, niece and nephew), we think the only way to join them is on the Retirement visa. We have checked the assets required and think we can comply however we simply don’t know where to start. We need advice to try and understand if there is a points system which would allow us to join the rest of the family perhaps, without having to go down the route of the sub class 405 visa which is expensive to say the least. The family are now citizens in the case of Mum and dad and permanent residents in the case of sister and her family. Any help would be really really appreciated.... Quote Link to comment Share on other sites More sharing options...
SPRINTER Posted January 30, 2018 Share Posted January 30, 2018 We recently acquired this visa and used Alan Collett (GoMatilda) to process it, a bit time consuming but most visas seem to be. Worth giving him a call. 1 Quote Link to comment Share on other sites More sharing options...
Stephi Posted January 30, 2018 Author Share Posted January 30, 2018 Hey thanks for the reply....will make contact. Are you settled now then ? Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted January 30, 2018 Share Posted January 30, 2018 My understanding is you can keep renewing this visa to stay in Oz but you will never have PR. Also, and I may get corrected if wrong but I'm sure the invested money has to remain invested which means you cannot enjoy it. I'm sure you've checked all these things but I just thought I'd mention it. Good luck with it all Quote Link to comment Share on other sites More sharing options...
SPRINTER Posted January 30, 2018 Share Posted January 30, 2018 Yup, quite settled now, furniture arrived 2 months ago, so almost feels like home except it is a bit warmer. We are in SA and the rather large deposit is paying 1.85% interest, not a fortune but better than most UK banks. Good luck. Quote Link to comment Share on other sites More sharing options...
ramot Posted January 31, 2018 Share Posted January 31, 2018 (edited) On the Sunshine Coast, there was a fairly large group of us on either the old 410 and the 405 visa and we met up fairly regulary over the last 10 years. We are on the old 410 retirement visa. We still meet up but Of the people that I know who came on the 405 visa, most have given up, as it is just so expensive to renew every 4 years, and factor in the rising cost of living, not least the cost of health insurance that went up an incredible 42%!!!! Last year. Although I think you get a certain amount of the initial deposit back after the initial 4 years, the fact that so much of their money was tied up, also became a factor. Good luck if you go down the 405 route, but think long and hard if you can afford it long term, we have been here for 15 years and it's a lot more expensive now. Any chance you are eligible for the parent visa? 2 of our 3 followed us to Australia so we are finally able to apply. Edited January 31, 2018 by ramot Quote Link to comment Share on other sites More sharing options...
ramot Posted January 31, 2018 Share Posted January 31, 2018 57 minutes ago, ramot said: On the Sunshine Coast, there was a fairly large group of us on either the old 410 and the 405 visa and we met up fairly regulary over the last 10 years. We are on the old 410 retirement visa. We still meet up but Of the people that I know who came on the 405 visa, most have given up, as it is just so expensive to renew every 4 years, and factor in the rising cost of living, not least the cost of health insurance that went up an incredible 42%!!!! Last year. Although I think you get a certain amount of the initial deposit back after the initial 4 years, the fact that so much of their money was tied up, also became a factor. Good luck if you go down the 405 route, but think long and hard if you can afford it long term, we have been here for 15 years and it's a lot more expensive now. Any chance you are eligible for the parent visa? 2 of our 3 followed us to Australia so we are finally able to apply. Sorry just reread your post properly, the 405 sounds your option Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted January 31, 2018 Share Posted January 31, 2018 6 hours ago, ramot said: On the Sunshine Coast, there was a fairly large group of us on either the old 410 and the 405 visa and we met up fairly regulary over the last 10 years. We are on the old 410 retirement visa. We still meet up but Of the people that I know who came on the 405 visa, most have given up, as it is just so expensive to renew every 4 years, and factor in the rising cost of living, not least the cost of health insurance that went up an incredible 42%!!!! Last year. Although I think you get a certain amount of the initial deposit back after the initial 4 years, the fact that so much of their money was tied up, also became a factor. Good luck if you go down the 405 route, but think long and hard if you can afford it long term, we have been here for 15 years and it's a lot more expensive now. Any chance you are eligible for the parent visa? 2 of our 3 followed us to Australia so we are finally able to apply. Ramot, they don't have any children Quote Link to comment Share on other sites More sharing options...
Stephi Posted January 31, 2018 Author Share Posted January 31, 2018 Many Thanks folks for the reply’s really appreciate them. Lots to look into then. Quote Link to comment Share on other sites More sharing options...
ramot Posted January 31, 2018 Share Posted January 31, 2018 (edited) 1 hour ago, Tulip1 said: Ramot, they don't have any children I realised that after re reading the post. That's why I added the sorry etc comment saying the 405 was the way to go. thought it was obvious I realised I had made a mistake. Edited January 31, 2018 by ramot Quote Link to comment Share on other sites More sharing options...
mudcrab Posted February 28, 2018 Share Posted February 28, 2018 On 31/01/2018 at 08:56, Tulip1 said: My understanding is you can keep renewing this visa to stay in Oz but you will never have PR. Also, and I may get corrected if wrong but I'm sure the invested money has to remain invested which means you cannot enjoy it. I'm sure you've checked all these things but I just thought I'd mention it. Good luck with it all After 4 years and on the first renewal, I understand that you can take half the investment back. It's still a lot of money tied up though for sure! Quote Link to comment Share on other sites More sharing options...
mudcrab Posted February 28, 2018 Share Posted February 28, 2018 Sprinter, glad to hear that the process went well with Alan and that you are settling in. I am still mulling over whether to start the 405 process this year. May I ask how long the process took? Homeaffairs website doesn't give any clues at all due to the low uptake of the visa. Alan did give me an indication but always good to hear what it actually takes. Quote Link to comment Share on other sites More sharing options...
SPRINTER Posted February 28, 2018 Share Posted February 28, 2018 I would say it took about 5-6 months, probably a bit longer for us as we were living in Switzerland, so some paperwork took us a bit longer to get. Once Alan had all the paperwork it was just a waiting game. Good Luck for the hopeful move. Quote Link to comment Share on other sites More sharing options...
Stephi Posted March 1, 2018 Author Share Posted March 1, 2018 Thanks for the tips. Must say it’s looking more doubtful for us as there is no PR at the end of the process and a four year renewal costing approx $32,000. That together with the lock in of at least 50% of the investment for ever seems like financial suicide. ? we will however keep on hoping and searching for a more suitable opportunity. Quote Link to comment Share on other sites More sharing options...
mudcrab Posted March 1, 2018 Share Posted March 1, 2018 Yes for 2,of you that is a high renewal cost. Difficult decision isn't it. Quote Link to comment Share on other sites More sharing options...
mudcrab Posted March 1, 2018 Share Posted March 1, 2018 9 hours ago, SPRINTER said: I would say it took about 5-6 months, probably a bit longer for us as we were living in Switzerland, so some paperwork took us a bit longer to get. Once Alan had all the paperwork it was just a waiting game. Good Luck for the hopeful move. Thanks sprinter. Well at least good news on the timings. Faster than quite a lot of other visas. Quote Link to comment Share on other sites More sharing options...
SPRINTER Posted March 2, 2018 Share Posted March 2, 2018 Don't forget, dependent on your income/investments on a 405 your tax could be very low and could sweeten things on the finance side a bit. Quote Link to comment Share on other sites More sharing options...
Stephi Posted March 2, 2018 Author Share Posted March 2, 2018 Thanks folks..NZ had crossed my mind recently!..will research and see what’s what. Can’t believe at 50 and 55 you can be already considered to be too old for something. I thnk life’s only just beginning for us! Quote Link to comment Share on other sites More sharing options...
SPRINTER Posted March 2, 2018 Share Posted March 2, 2018 50 and 55, lifes just beginning, with luck you are only half way through, we were 71 and 66 when we moved here having spent 10 years in Switzerland, have heard so many people say "wish we had done that" , its a big world out there, many different cultures and each one interesting, some more than others. Our attitude, you only have one life, do whatever you can and enjoy it. And don't live your life for other people, at most you are only 20 hours away from anywhere. Enjoy life. Quote Link to comment Share on other sites More sharing options...
Marisawright Posted March 2, 2018 Share Posted March 2, 2018 (edited) 2 hours ago, Stephi said: Thanks folks..NZ had crossed my mind recently!..will research and see what’s what. Can’t believe at 50 and 55 you can be already considered to be too old for something. I thnk life’s only just beginning for us! It's not that you're considered too old to be useful. It's because the Australian taxation system won't be able to collect enough money to pay for your old age. If you were allowed to migrate to Australia at 55, by the time you're 65 you'd have been resident in the country for 10 years and eligible for a full pension. Plus, of course, you'd start costing Medicare more and more money as you age, not to mention aged care. Yet you'll have paid only 10 years' tax into the system. Basically, the government doesn't want to bring in people who are going to cost more money than they contribute (and as an Aussie taxpayer, I'm quite glad of that, even though I appreciate it's tough on families!). I think you're right to have second thoughts about the 405 visa. As you say, you're still very young and it's hard to imagine how you could afford to keep renewing the visa every 4 years for the next 30 years! It would probably work out cheaper to take an extended holiday each year. Edited March 2, 2018 by Marisawright Quote Link to comment Share on other sites More sharing options...
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