Permanent Pathway for Investor Retirement Visa Holders

[Lisa De Leon 21]

The following was announced in the federal budget announced tonight (8 May 2018). An implementation date has not as yet been announced.

Retirement visas - permanent pathway

A pathway to permanent residency for holders of Retirement (subclass 410) and Investor Retirement (subclass 405) visas will be introduced.  A portion of the parent permanent migration places will be quarantined for retirement visa holders each year.

Retirement visa holders in Australia will be eligible to apply onshore for a permanent visa through the Parent (subclass 103) or Contributory Parent (subclass 143) visa streams.

Retirement visa holders will be exempted from some parent visa requirements that they would typically be unable to meet, such as having family in Australia. The pathway will remain open until all retirement visa holders who wish to transition to permanent residency have done so. 

As part of the establishment of the pathway, the Government will close the subclass 405 visa to new applicants. The subclass 410 visa is already closed to new applicants.

[ramot 6,416]

1 hour ago, Lisa De Leon said:

The following was announced in the federal budget announced tonight (8 May 2018). An implementation date has not as yet been announced.

Retirement visas - permanent pathway

A pathway to permanent residency for holders of Retirement (subclass 410) and Investor Retirement (subclass 405) visas will be introduced.  A portion of the parent permanent migration places will be quarantined for retirement visa holders each year.

Retirement visa holders in Australia will be eligible to apply onshore for a permanent visa through the Parent (subclass 103) or Contributory Parent (subclass 143) visa streams.

Retirement visa holders will be exempted from some parent visa requirements that they would typically be unable to meet, such as having family in Australia. The pathway will remain open until all retirement visa holders who wish to transition to permanent residency have done so. 

As part of the establishment of the pathway, the Government will close the subclass 405 visa to new applicants. The subclass 410 visa is already closed to new applicants.

Thank you for posting this. We are on a 410 visa and have recently become eligible and applied for the 864 visa. Will be interesting to see the conditions when announced, if similar to a parent visa cost wise? if you don't have family here. 

[wm_shi 0]

" the Government will close the subclass 405 visa to new applicants ": will the 405 visa be closed forever or will it be open sometime again?

[Marisawright 9,510]

9 hours ago, wm_shi said:

" the Government will close the subclass 405 visa to new applicants ": will the 405 visa be closed forever or will it be open sometime again?

I'd say it's a fairly safe bet that it's closed forever.

[ramot 6,416]

9 hours ago, wm_shi said:

" the Government will close the subclass 405 visa to new applicants ": will the 405 visa be closed forever or will it be open sometime again?

Who knows, but the 410 retirement visa was closed in 2005, and never reinstated, it was replaced by the now closed 405. Historically unlikely .

[wm_shi 0]

So will a new visa replace the current 405 visa?

[Nemesis 1,603]

1 hour ago, wm_shi said:

So will a new visa replace the current 405 visa?

Don't think anyone has a crystal ball