405 retirement visa

Old Oct 9th 2009, 3:55 pm
  #1  
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Default 405 retirement visa

Hello all
First post ever here so be gentle !
I've been planning to move to Oz from next March for some years on a 405 visa.
Firstly I've read that NSW is not offering state sponsorship under this category at the moment.....anyone know if this is true....and if so can I invest in another state government and still reside in NSW?
Secondly...I am really struggling now to get the required lump sum together as the exchange rate has dropped so much ( $1.76 today !!).....I have budgeted for a rate between $2.00 and $2.30 (seen as high as $2.82 over the last few years) and was wondering how many would be applicants plans have been completely stuffed by this horrendous rate ?
All comments gratefully received.
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Old Oct 9th 2009, 4:55 pm
  #2  
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Default Re: 405 retirement visa

Welcome to BritishExpats

I do hope the 59 in your user name doesn't indicate you were born in 1959 given that you need to be 55 to qualify for a 405 visa....

I don't really know much about these visas, they were an alternative for us if we didn't get PR which we did, but there is no indication that NSW aren't supporting them on their website here. Also the New South Wales Treasury has investment information here so it doesn't look at though there is a problem at the moment.

Good luck. There are loads of people who are adversely affected by the strength of the dollar and I'm sure some of them must be potential 405ers.

Last edited by louie; Oct 9th 2009 at 4:59 pm. Reason: Added something
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Old Oct 9th 2009, 5:27 pm
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Default Re: 405 retirement visa

Originally Posted by louie View Post
Welcome to BritishExpats

I do hope the 59 in your user name doesn't indicate you were born in 1959 given that you need to be 55 to qualify for a 405 visa....

I don't really know much about these visas, they were an alternative for us if we didn't get PR which we did, but there is no indication that NSW aren't supporting them on their website here. Also the New South Wales Treasury has investment information here so it doesn't look at though there is a problem at the moment.

Good luck. There are loads of people who are adversely affected by the strength of the dollar and I'm sure some of them must be potential 405ers.
Thanks Louie
Very fast response with valuable links...it would appear that there are no restrictions after all then.....other than getting hold of the not insignificant amount of money required......you sound one of the fortunate ones to get PR..lucky you....but as you say I'm guessing there are lots of British would be emigrants feeling very depressed at the moment.
I can't see the pound strengthening against the dollar now until UK interest rates start rising and the gap between Oz rates and here closes significantly....and that could be a long long way off.....time to find an Aussie wife I think !!
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Old Oct 10th 2009, 7:03 am
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Default Re: 405 retirement visa

You might like to pose your questions on the following site were some 405 visa holders often lurk. It is primerially for 410 visa holders but some holders of 405 visas are very often online.

http://groups.yahoo.com/group/BERIA/

Regards,

Gillian
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Old Oct 10th 2009, 12:46 pm
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Default Re: 405 retirement visa

Originally Posted by ray2gill View Post
You might like to pose your questions on the following site were some 405 visa holders often lurk. It is primerially for 410 visa holders but some holders of 405 visas are very often online.

http://groups.yahoo.com/group/BERIA/

Regards,

Gillian
Thanks Gillian...I'll check out that website you suggested !
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Old Oct 11th 2009, 5:17 am
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Default Re: 405 retirement visa

I've moved you to the Immi Forum as the experts come here.
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