Retirement Visa - Sliding Scale?
Aug 3rd 2003, 10:15 am
#1
Just Joined
Thread Starter
Joined: Jul 2003
Location: Saudi Arabia
Posts: 5
Retirement Visa - Sliding Scale?
Can anyone please tell me whether or not the money required for a Retirement Visa is on a sliding scale. I know that the requirements are A$650,000 or A$200,000 + A$45,000 income but does that mean that you can have say A$400,000 + A$20,000 income?
Also we are present living/working in Saudi Arabia and have to decide whether or not to go back to the UK to apply for the visa or go to Spain, where we were orginally going to retire to and apply from there. Does anyone hae any idea if it would be as easy to apply from Span.
Thanks
Anne
Also we are present living/working in Saudi Arabia and have to decide whether or not to go back to the UK to apply for the visa or go to Spain, where we were orginally going to retire to and apply from there. Does anyone hae any idea if it would be as easy to apply from Span.
Thanks
Anne
Aug 4th 2003, 1:05 am
#2
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Retirement Visa - Sliding Scale?
No, there's no sliding scale Anne, but you can consider your "excess capital" over A$200,000 to be income generating, which can contribute towards the income requirement of A$45,000 per annum.
As to the rate of return on your excess capital, I would work with the rate that is available on the State/Territory Treasury Corporation Bonds (about 4%) - unless you can verify a higher rate of return via (say) a financial planner in Australia.
Best regards.
As to the rate of return on your excess capital, I would work with the rate that is available on the State/Territory Treasury Corporation Bonds (about 4%) - unless you can verify a higher rate of return via (say) a financial planner in Australia.
Best regards.
Originally posted by Bob&anne
Can anyone please tell me whether or not the money required for a Retirement Visa is on a sliding scale. I know that the requirements are A$650,000 or A$200,000 + A$45,000 income but does that mean that you can have say A$400,000 + A$20,000 income?
Also we are present living/working in Saudi Arabia and have to decide whether or not to go back to the UK to apply for the visa or go to Spain, where we were orginally going to retire to and apply from there. Does anyone hae any idea if it would be as easy to apply from Span.
Thanks
Anne
Can anyone please tell me whether or not the money required for a Retirement Visa is on a sliding scale. I know that the requirements are A$650,000 or A$200,000 + A$45,000 income but does that mean that you can have say A$400,000 + A$20,000 income?
Also we are present living/working in Saudi Arabia and have to decide whether or not to go back to the UK to apply for the visa or go to Spain, where we were orginally going to retire to and apply from there. Does anyone hae any idea if it would be as easy to apply from Span.
Thanks
Anne
Aug 9th 2003, 4:39 pm
#3
Just Joined
Thread Starter
Joined: Jul 2003
Location: Saudi Arabia
Posts: 5
Thanks, Alan, for the information. We have found a massive amount of information on this forum which has answered most of our questions.
We hope to apply for a 410 visa when we leave Saudi next year.
Our son should be a permanent resident within a couple of years so we have the option of thinking about a parent visa, depending on how tough the medical is. Do they really expect people in their sixties to be in the same state of health as those in their thirties!!
Regards
Anne & Bob
We hope to apply for a 410 visa when we leave Saudi next year.
Our son should be a permanent resident within a couple of years so we have the option of thinking about a parent visa, depending on how tough the medical is. Do they really expect people in their sixties to be in the same state of health as those in their thirties!!
Regards
Anne & Bob
