Retirement for yank - impossible?

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Retirement for yank - impossible?


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Old 08-04-2010, 12:59 PM
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Retirement for yank - impossible?

Hi, I am researching places for a possible early retirement. Looking at Australia's requirements, they have made it pretty impossible for most - although I will have a small govt pension and good savings, who has this kind of income and savings in retirement?

* are 55 years of age or older
* are sponsored by an Australian State or Territory Government agency
* have no dependent children or other dependent family members other than a spouse
* are married or in a de facto relationship, your partner has no dependent children or other dependent family members
* have a minimum assets legally owned and lawfully acquired by yourself, or yourself and your spouse, capable of and available to transfer to Australia of:
o A$500,000 if you have indicated to your sponsoring state or territory government agency that you intend to live in a regional/low growth area of Australia; OR
o A$750,000 if you have indicated to your sponsoring state or territory government agency that you do not intend to live in a regional/low growth area of Australia
* have a minimum net income stream (for example, pension rights) that can be accessed for yourself or yourself and your spouse of:
o A$50,000 annually if you have indicated to your sponsoring state or territory government agency that you intend to live in regional/low growth area of Australia
o A$65,000 annually if you have indicated to your sponsoring state or territory government agency that you do not intend to live in a regional/low growth area of Australia
* are able to make a minimum designated investment of:
o A$500,000 in your name or your name and your spouse name if you have indicated to your sponsoring state or territory government agency that you intend to live in regional/low growth area of Australia
o A$750,000 in your name or your name and your spouse name if you have indicated to your sponsoring state or territory government agency that you do not intend to live in regional/low growth area of Australia
* you must have held all of the assists listed above for 2 years prior to lodging your application, unless the assists are related to superannuation and/or inheritance
* have evidence that you, and your spouse if applicable, hold a private health insurance package that meets Australian Department of Health and Ageing (DHA) guidelines during the period of the intended stay in Australia
* have no intention of working full-time in Australia (you, and your spouse if applicable, will only be allowed to work up to 20 hours per week while in Australia)
* are of good health and character


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Old 08-04-2010, 01:53 PM
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There did use to be retirement visas but as you seem to have gathered, the only way of attempting the same now is to have sufficient capital to invest into a small business, and expensive process for here and also a lot of other countries I imagine, New Zealand for one having something similar I believe.





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