New Options for Temporary Resident Retirees to obtain Permanent Residency
Law changes add to visa options for retirees
On 17 November 2018, the Migration Amendment (Pathway to Permanent Residence for Retirees) Regulations 2018 (‘The Regulation’) commences. The Regulation will provide a pathway to permanent residence for certain non-citizens who are temporary residents of Australia.
Which visas are affected by the change?
The Regulation targets retirees who on 8 May 2018 held a:
- subclass 405 (Investor Retirement) visa; or
- subclass 410 (Retirement) visa; or
- who did not hold a substantive visa on that date and the last substantive visa held was one of those visas.
The retiree must not have held a substantive visa other than a subclass 105 or subclass 410 since 8 May 2018.
Which visas may be applied for under the new law?
The Regulation will provide that a retiree may obtain permanent residency by applying for and being granted a:
- subclass 103 (Parent) visa; or
- subclass 143 (Contributory Parent) visa
Criteria that must be met
The potential applicant must be in Australia to apply, must maintain adequate health insurance until the visa is granted and must meet the relevant health and character criteria.
Exemptions to requirements for retirement visa holders
The gist of the change is that retirement visa holders will be exempt from certain parent visa requirements, such as having a family sponsor and the requirement to maintain an Assurance of Support.
Professional migration advice for you
Bell Legal Group’s dedicated migration team can assist you with all of your migration law needs. If you have a query regarding the new changes or need help from migration law experts please call us on +61 7 5597 3366 or fill out the ‘Contact Us‘ form below.
This article was written by Esef Mirascija of Bell Legal Group for general information purposes only. It is not legal advice and should not be relied upon as such. Always obtain legal advice based upon your own circumstances.