Retirement to Australia

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Retirement to Australia; Finances
Topic Started: 6 Jul 2006, 04:49 AM (584 Views)
Grarmo	6 Jul 2006, 04:49 AM Post #1
Newbie Posts: 3 Group: Members Member #773 Joined: 20 June 2006	As retired people thinking of emigrating to Melbourne to be nearer our son, we have been rather daunted by the Bond which is expected ($750,000). Is this in addition to the cost of buying a house? Would we have to buy a new build? Is interest paid on the Bond? We should welcome your help and comments.



Pootle	6 Jul 2006, 07:04 AM Post #2
Addicted Member Posts: 145 Group: Members Member #139 Joined: 8 December 2004 Migration Status Citizen	Grarmo Jul 6 2006, 04:49 AM As retired people thinking of emigrating to Melbourne to be nearer our son, we have been rather daunted by the Bond which is expected ($750,000). Is this in addition to the cost of buying a house? Would we have to buy a new build? Is interest paid on the Bond? We should welcome your help and comments. I take it you don't qualify for the parent contributory visa? My parents would also like to move here but I have 2 siblings in the uk so that option is closed for them. The investor retirement visa is unfortunately too expensive for them so at the moment they are making do with holidays over here to see us! As I understand it you need to bring into the country $750,000 and also lodge a further $750,000 with the government as a bond - not sure how long for? An awful lot of money either way! Good luck with your plans, Ruth ps yes I think you do have to buy new build and have to get Foreign Investment Board approval first.



Grarmo	6 Jul 2006, 07:13 AM Post #3
Newbie Posts: 3 Group: Members Member #773 Joined: 20 June 2006	Thank you, Ruth - that was really helpful. Yes, we too find it far too expensive, and will have to rely on holidays, like your parents. It's a pity Australia only wants rich retirees! All good wishes Lizzie



klh	6 Jul 2006, 02:30 PM Post #4
Addicted Member Posts: 232 Group: Members Member #349 Joined: 21 August 2005	you are allowed to stay for 6mnths a year . This would be a cheaper option.Summer in the Uk and summer in Oz! you would be able to find a long term rental if you wanted to do the 6 mnths in one go or you could break it up into 2 x 3mnths.



Grarmo	6 Jul 2006, 10:09 PM Post #5
Newbie Posts: 3 Group: Members Member #773 Joined: 20 June 2006	Thanks for your suggestion, klh. It's an idea we may well follow, unless by some unknown means we come into a fortune! Best wishes Lizzie


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