The Retirement Visa applies to foreign persons aged 55 years and over who wish to retire in Australia.
Candidates must meet an eligibility test which includes sufficient funds for transfer to Australia.
Applicants must have no dependents at the time of application; however, once in Australia, they can work for up to 20 hours per week.
This visa is a 2-stage process. It is initially granted for 4 years. Thereafter, it can be extended every 4 years.