Can US citizen retire in Australia?

Written by: David Scott

Retirement can be either a pleasant or a difficult period in our life, depending on the decisions we make before its arrival. If you are a US citizen considering to spend your retired ages in such a close-to-nature place, like Australia, this article was written to help you.

Why Australia? 

Australia is a very attractive place to stay. It is one of the richest countries in the world and its natural treasures are definitely a part of its magnetism. Moreover, several people experience relief in their allergic or respiratory problems during visiting Australia, where you can drink pure water and breathe in clear air. All in all, once it has come into your mind, it is worth being informed about your possibilities of living there. 

Can this concept of you come true at all? 

Yes, absolutely. However, it requires patience, time, and last, but not least- money. Money can make things possible by providing background for our long-term plans; and the comfort of our ages as a pensioner must be built on calculability and safety. 

First of all, you have to make your stay legal by applying for a visa. There are different kind of visas you can apply for:

  • Parent
  • Investor Retirement
  • Age Dependent Resident
  • Remaining Relative
  • Carer Relative

When you cannot certify your legal status in Australia as a parent or a last-living relative of a local resident, possibly a guardian of someone in need living there, the only option you have: apply for an „ Investor Retirement Visa”. Although it is one of the most expensive method, it is open for anyone who meets the requirements. 

What are those requirements ?

To get this visa, you have to prove that you have minimum AUD$500,000 or at least AUD$750,000. The necessary amount depends on the given area where you aim to settle down within the borders of Australia. Keep in mind that the costs of this application are higher; the fee to apply can be up to AUD$10,000. 

Do not worry if you feel overwhelmed by details during the application process: you can ask professional aid as there are experts who are specialized in such migration cases. 

What about healthcare?

Fortunately the Australian government did not make it difficult for US citizens. There is a worldwide system called Medicaid which provides healthcare for elderly people possessing both lower and higher financial resources. There are nursing home-care and also personal care services available. At the same time, some restrictions do occur, so it is recommended to make inquiries beforehand.

So … what are needed to be pondered over first and foremost? 

To avoid finding yourself roofless, search for a community, suburban area or whatever you prefer to reside well in advance, make sure that you know how AD differs from USD. Find the most beneficial exchange office to turn your money into the proper currency.

Ask yourself: Am I aware of the differences between the US and Australian lifestyle? Am I prepared for the higher living costs? Do not forget that Australian transport, housing, catering, etc. cost more. 

When all comes to all, know what you take upon yourself. If everything works out, I hope the Australian chapter will be a wonderful one in the autumn of your life.

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