The Australian Govt. will soon launch a new PR pathway for holders of Retirement Visa (Subclass 410) and Investor Retirement (Subclass 405) Visa.
From 2018-19, a portion of the planned PR places will be set aside for the retirement visa holders. Retirement Visa holders will now be able to apply for an Australian PR onshore. They would be able to do so under the Parent Visa (Subclass 103) or the Contributory Parent Visa (Subclass 143) schemes.
Retirement Visa holders would be exempt from certain Parent Visa requirements that they may not be able to meet. Having family in Australia is one such need they would be exempt from, as quoted by the SBS.
This Australian PR pathway would remain open till all the Retirement Visa holders who wish to transition to permanent visas have done so.
To establish the PR pathway, the Australian Govt. has plans to close Subclass 405 to new applicants. Subclass 410 is already closed to new applicants.
This new Australian PR pathway has brought cheer to the Subclass 410 and 405 visa holders in Australia. For many years retirement visa holders had been lobbying for Permanent Residency in Australia. However, this move may lead to delay in existing Parent Visa applicants in being granted their visas.
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