Retiring to Australia?

Question

My husband and I are looking into retiring to Australia,and , have discovered that we need 500,000 to 750,000 dollers in a bond,We both have good retirement pensions, Can the bond Money be used to buy property ,and general living expenses

can any one give us this info Thankyou Jacqueline

Answer 1

im from the gold coast and generally houses vary from aud$320 000 and above, so ye u will have extra for expenses

Answer 2

of course, it will either buy you a house in any city or rent any property you choose to disiere also it is more than enough for living expences where in Aust do you plan to reside as it is a key componant to answer your question

Answer 3

It's a bit convoluted, but all of the information you need is on the government website. The most important requirements are that you make a 'Designated Investment' of at least $750k (or $500k in a regional area) AND, you need assets of at least $750k ($500k) capable and available for transfer to Australia AND an income of at least $65k ($50k) per annum. Your Designated Investment cannot be in income producing property, but must be in certain specified investments (listed on the form below). Funds invested in your DI must be made at the beginning of your 4 year visa term and cannot be withdrawn during the 4 years. See the Temporary Investor Retirement Visa form 1248i at http://www.immi.gov.au/allforms/pdf/1248... for details of what is acceptable as a DI. The same form has virtually all of the information required to answer your questions in full.

As the above indicates, your living expenses must come out of your pension and other income. You will not be able to draw upon your DI for this purpose. You must also have acceptable full health insurance.

The visa in question is valid for 4 years. Provided that all financial and health requirements have been met, a new visa can be issued upon the expiry of each 4 year validity period.