Good news to the holders of Investor Retirement (subclass 405) and Retirement (subclass 410) visas. The Government has introduced a new pathway to permanent residency for you by way of the Parent (subclass 103) or the Contributory Parent (subclass 143) visas.
This new pathway was first mentioned in the Federal budget on 8 May 2018 and the visa application will be commenced from 17 November 2018. Within these Parent category places, a small number of places will be allocated to the retirement visa holders starting in 2018/19 program year.
Due to the introduction of the new pathway, new applications for the subclasses 405 and 410 are now closed. However, the pathway will remain open until all retirement visa holders who wish to transition to permanent residency have done so.
The holders of Investor Retirement (subclass 405) and Retirement (subclass 410) visas whose visas were granted before 8 May 2018 are eligible to apply onshore with certain exemptions such as no sponsorship and no balance of family test are required.
If you would like to know more about the new pathway or if you want to have a peace of mind for your visa application, please feel free to contact us at email@example.com.