You can apply to renew your subclass 405 visa up to three months before it has expired.
To be eligible you must demonstrate that you have met the requirements of the visa and are prepared to keep investing in the state. This four-year visa does not lead to permanent residency but can continue to be renewed providing you meet the eligibility criteria.
Applicants must already hold a state-nominated Investor Retirement visa subclass 405 to be eligible for a renewal.
- You must meet the requirements of both South Australia and the eligibility criteria <insert link> of the Australian Department of Immigration and Border Protection (DIBP). You must:
- Hold a valid Investor Retirement visa subclass 405 previously nominated by the South Australian Government.
- Continue living in South Australia. The visa allows you to travel freely in and out of Australia.
- Have no dependents other than your partner.
- Invest at least AUD$250,000 in South Australian Government Financing Authority (SAFA) bonds for four years. The amount is AUD$500,000 if you have previously been nominated by another state or territory.
- Receive a combined annual income of at least AUD$50,000.
Successful applicants must keep Immigration SA informed of any changes in status.
Before you apply
You must provide documents to support your state nomination application so use this checklist before you apply.
- Copy of your passport photo and information page.
- Expression of Interest reference number from the Australian Government’s SkillSelect.
- Proof of residency in South Australia for two of the past four years. Tenancy agreements, bank statements, utility bills.
- SAFA certificate
How to apply
- Check the visa conditions on the Department of Immigration and Border Protection’s to ensure you meet the eligibility criteria.
- Ensure you qualify for state nomination in South Australia.
- Submit an online application for state nomination.
- If you are approved for state nomination, you will receive an invitation from the DIBP asking you to lodge your visa application within 60 days of nomination.