Dreaming of a retirement on the Australian coast? The first thing to understand is that there is no longer a visa called the “retirement visa” open to new applicants. Both of Australia’s dedicated retiree visas, the Investor Retirement visa (subclass 405) and the Retirement visa (subclass 410), have been repealed and closed to first-time applicants.
That does not mean retiring to Australia is impossible. It means the route is narrower and more strategic, and the families who plan early still get there. This guide explains what remains today, and the pension and tax traps to plan around.
Our Entrepreneur & Investor guide is packed with useful information you will need to know when emigrating to Australia.
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In short, no. There is currently no standalone visa that lets a person migrate to Australia purely to retire. The Department of Home Affairs closed the subclass 405 and 410 retirement visas to new applicants, and they have not been replaced with an equivalent.
The subclass 410 Retirement visa was a temporary visa for self-funded retirees, and the subclass 405 Investor Retirement visa required a substantial investment in an Australian state or territory plus an ongoing income. Both have been wound down and are now closed to new and first-time applicants.
There is, however, important relief for people who already hold one of these visas. Existing 405 and 410 holders can continue to apply for subsequent retirement visas and now have a pathway to permanent residence through the Parent (subclass 103) or Contributory Parent (subclass 143) streams, with exemptions from some of the usual requirements. If you already hold a 405 or 410, take specialist advice on this pathway.
With the dedicated retirement visas closed, prospective retirees now reach Australia through a small number of alternative pathways. The right one depends on your family situation, your wealth, and how much of the year you want to spend in Australia.
Australia closed its dedicated retiree visas, so a retirement move now runs through one of the family, business or visitor routes. The right one turns on whether you have an adult child settled in Australia, whether you plan to stay permanently, and whether you have a business record behind you.
Retirees who built a successful business career often find the National Innovation Visa the strongest route. It leads directly to permanent residence, it carries no upper age limit and no points test, and once granted it lets you live, retire and buy property anywhere in Australia. It suits people able to make an active contribution rather than relying on passive wealth alone. The earlier Business Innovation and Investment Program closed to new applications, and this visa now carries that ambition.
The United Kingdom pays the State Pension in Australia, and it stays frozen at the rate applying when you move, because the two countries hold no up rating agreement. Build that fixed figure into your projections from the start, and treat any private pension separately, since a transfer follows its own rules.
Australia charges no inheritance or estate tax in any state or territory, which is welcome news for most families. Once you become an Australian tax resident you are generally taxed on your worldwide income, and that can include foreign pension income. Cross border tax advice before you move is money well spent.
Purchases of residential property by foreign persons go through the Foreign Investment Review Board, and current rules reserve established dwellings for citizens and permanent residents. New dwellings and vacant land stay open with approval. Permanent residence lifts the restriction, which is one more reason the permanent routes above matter.
Retiring to Australia now turns on choosing the right route and building the case that supports it. We look at your family position, your business record and your finances together, tell you plainly which routes are realistic, and manage the application from first assessment through to grant.
Yes, dependent children up to the age of 23 may be included in your application.
Yes, however, this cannot be included as part of your investment.
We work with regulated advisors to provide guidance on the Qualifying Recognised Overseas Pension Scheme (QROPS). Along with other methods of relocating your private pension.
The National Innovation Visa runs in two stages: an expression of interest, then the visa application once invited. The Department of Home Affairs processing guide currently shows half of visa applications decided within four months of invitation and nine in ten within seven months. Most clients complete the move within twelve to twenty four months of first contact.
Places are allocated on a first-come, first-served basis until the quotas are reached.
We always work with our clients to accommodate their plans.
Australia has no inheritance tax. Your entire estate can be passed on to your loved ones.
There is no fixed figure now that the investor retirement visa has closed. Costs depend on the pathway.
You can spend extended periods on a Visitor visa (subclass 600), but it does not grant residency or the right to work, and continuous visa-hopping is not recommended
Comparing life in Australia to the United Kingdom.
Money drawn from Australian retirement savings after sixty arrives tax free, and the pension replaces more of a lower wage. The British pension pot grows without tax, and the income taken from it is then taxed as income.
| Measure | Australia | United Kingdom |
|---|---|---|
| Tax on retirement fund earnings once you retire | Nil | Fund growth untaxed, pension income taxed |
| Tax on withdrawals after sixty | Nil from a taxed fund | Income tax above the personal allowance |
| Pension replacement rate for a lower earner | 82.7% | 76.2% |
Sources: ATO; GOV.UK; OECD Pensions at a Glance Australian source
Australia records under a third of the robbery rate of England and Wales, and ranks well above the United Kingdom for peace. Only measures that both countries define the same way are shown here.
| Measure | Australia | United Kingdom |
|---|---|---|
| Robbery, per 100,000 people, against England and Wales | 42 | 141 |
| Global Peace Index rank | 20th | 39th |
Sources: ABS Recorded Crime; ONS; Institute for Economics and Peace Australian source
The Australian retirement favourites collect around three more hours of sunshine a day than the sunniest stretch of the English coast. Both columns come from long term station averages published by each country’s national weather service.
| Measure | Australia | England |
|---|---|---|
| Adelaide against Torquay, sunshine per day | 7.6 hours | 4.8 hours |
| Perth against Eastbourne, sunshine per day | 8.8 hours | 5.2 hours |
Sources: Bureau of Meteorology; Met Office Australian source