May 30, 2018 immiinfo

Investor Retirement Visa closes on 1 June 2018

The class UY Investor Retirement Visa is considered to no longer align with Australia’s economic priorities and will be closed.

The closure of the Class UY visa, which consists of one visa subclass, the Subclass 405 (Investor Retirement) visa, was announced in the 2018-19 Federal Budget, as part of the establishment of a pathway to permanent residence for current holders of the Retirement (Temporary)(Class TQ) visas and the Class UY visa. 

Current visa holders can apply to renew their visas, however the UY class is now closed to new applicants.  No more new applications are permitted from 1 June, 2018.