‘The Regulations target retirees who,… on 8 May 2018, held a Subclass 405 (Investor Retirement)… or… 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 Migration Amendment (Pathway to Permanent Residence for Retirees) Regulations 2018 (Cth) (the New Regulations) was made on 25 October 2018 and will come into effect on 17 November 2018. The explanatory statement includes the following passage:
The Regulations provide that certain holders or former holders of temporary retirement visas (retirees) are able to obtain permanent residence by meeting criteria in specified permanent visas. This change responds to concerns about the difficulties faced by retirees, including lack of access to health and other Government and community services, and disadvantage in relation to taxation and property issues.
The Regulations target retirees who, at the time this change was announced in the Federal Budget on 8 May 2018, held a Subclass 405 (Investor Retirement) visa or a 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. In addition, the retiree must not have held a substantive visa, other than one of those visas, since 8 May 2018.
The retirees may apply for a Subclass 103 (Parent) visa or a Subclass 143 (Contributory Parent) visa. Retirees must apply in Australia, maintain adequate health insurance until the permanent visa is granted, and meet the relevant health, character and other public interest criteria for the grant of the permanent visa.
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