Riterment visa advice anyone..............
#1
Riterment visa advice anyone..............
Hi All
After a bit of advice re: Retirement visa's mainly from someone who has retired to Oz or understands the system fairly well saying that any input would be appreicated.
The story is my in-laws are currently on there second 6 month visa in Oz. They would dearly love to stay long term espeically as we will be moving out there as soon we can sell the house. From what I can understand the current requirements are: Those without children in OZ require either $870,000 Dollars or $350,000 dollars plus an income of 52,000 dollars per yr and private medical insurance. They have had the medicals and x-rays so no problems there.
They have funds of about £280,000 (approx $700,000). with a seperate annual income of about $40,000. So option 1 would not be possible. I'm no finance wizz but if they used $350,000 towards the second option. would it not be possible to raise the remaining $12,000 dollars needed to cover the annual income. By putting the other $350,000 in a bank account and using the interest raised from this. at 5% this should raise at least $17,500.
I know that takes some following but any one got any ideas.
Rgds
RichNkim
After a bit of advice re: Retirement visa's mainly from someone who has retired to Oz or understands the system fairly well saying that any input would be appreicated.
The story is my in-laws are currently on there second 6 month visa in Oz. They would dearly love to stay long term espeically as we will be moving out there as soon we can sell the house. From what I can understand the current requirements are: Those without children in OZ require either $870,000 Dollars or $350,000 dollars plus an income of 52,000 dollars per yr and private medical insurance. They have had the medicals and x-rays so no problems there.
They have funds of about £280,000 (approx $700,000). with a seperate annual income of about $40,000. So option 1 would not be possible. I'm no finance wizz but if they used $350,000 towards the second option. would it not be possible to raise the remaining $12,000 dollars needed to cover the annual income. By putting the other $350,000 in a bank account and using the interest raised from this. at 5% this should raise at least $17,500.
I know that takes some following but any one got any ideas.
Rgds
RichNkim
#2
Re: Riterment visa advice anyone..............
Originally posted by RichnKim
Hi All
After a bit of advice re: Retirement visa's mainly from someone who has retired to Oz or understands the system fairly well saying that any input would be appreicated.
The story is my in-laws are currently on there second 6 month visa in Oz. They would dearly love to stay long term espeically as we will be moving out there as soon we can sell the house. From what I can understand the current requirements are: Those without children in OZ require either $870,000 Dollars or $350,000 dollars plus an income of 52,000 dollars per yr and private medical insurance. They have had the medicals and x-rays so no problems there.
They have funds of about £280,000 (approx $700,000). with a seperate annual income of about $40,000. So option 1 would not be possible. I'm no finance wizz but if they used $350,000 towards the second option. would it not be possible to raise the remaining $12,000 dollars needed to cover the annual income. By putting the other $350,000 in a bank account and using the interest raised from this. at 5% this should raise at least $17,500.
I know that takes some following but any one got any ideas.
Rgds
RichNkim
Hi All
After a bit of advice re: Retirement visa's mainly from someone who has retired to Oz or understands the system fairly well saying that any input would be appreicated.
The story is my in-laws are currently on there second 6 month visa in Oz. They would dearly love to stay long term espeically as we will be moving out there as soon we can sell the house. From what I can understand the current requirements are: Those without children in OZ require either $870,000 Dollars or $350,000 dollars plus an income of 52,000 dollars per yr and private medical insurance. They have had the medicals and x-rays so no problems there.
They have funds of about £280,000 (approx $700,000). with a seperate annual income of about $40,000. So option 1 would not be possible. I'm no finance wizz but if they used $350,000 towards the second option. would it not be possible to raise the remaining $12,000 dollars needed to cover the annual income. By putting the other $350,000 in a bank account and using the interest raised from this. at 5% this should raise at least $17,500.
I know that takes some following but any one got any ideas.
Rgds
RichNkim
#3
Guest
Posts: n/a
Interesting......
My folks would love to retire in OZ, (they could have gone on a £10 passage 30 years ago but Mom wes preg with my sister and wouldn't go I could have grown up there!!!)
Anyway in 5 weeks I will be there and my sister will be arriving about a month later!! (only the two of us no other siblings).
Does this mean in two years time we can sponsor my mom and dad and it will be easier than a normal retirement visa??
Earlswood x
My folks would love to retire in OZ, (they could have gone on a £10 passage 30 years ago but Mom wes preg with my sister and wouldn't go I could have grown up there!!!)
Anyway in 5 weeks I will be there and my sister will be arriving about a month later!! (only the two of us no other siblings).
Does this mean in two years time we can sponsor my mom and dad and it will be easier than a normal retirement visa??
Earlswood x
#4
I believe that they could use a parent visa type not sure of the in's and outs. I think thatthe majaroty of there children would needto be in Oz to qualify which in your case sounds OK.
#5
Guest
Posts: n/a
Cheers RichnKim that's what I'm hoping, will probably check it out with our old agent once we're over there.
If you are tuning in George didn't mean YOU are old
Anita
If you are tuning in George didn't mean YOU are old
Anita
#7
Originally posted by RichnKim
Hi Helinuk
Tryed to PM you back but your mailbox is full
Hi Helinuk
Tryed to PM you back but your mailbox is full
#8
The interaction between parent visas, Contributory Parent visas, and Retirement visas is a confusing one for a lot of people. Get good professional advice so you can be confident opportunities are not being missed due to confusion ...
Jeremy
Jeremy
Originally posted by earlswood
Cheers RichnKim that's what I'm hoping, will probably check it out with our old agent once we're over there.
If you are tuning in George didn't mean YOU are old
Anita
Cheers RichnKim that's what I'm hoping, will probably check it out with our old agent once we're over there.
If you are tuning in George didn't mean YOU are old
Anita